Meaning of “total cost of ownership” in the English Dictionary

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"total cost of ownership" in Business English

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total cost of ownershipnoun [ U ]

uk us abbreviation tco ACCOUNTING

a calculation of all the costs involved in buying and using a product over time:

Outsourcing services can dramatically cut the total cost of ownership.

(Definition of “total cost of ownership” from the Cambridge Business English Dictionary © Cambridge University Press)