Calculating your business' Total Cost of Ownership (TCO) is key to understanding and communicating the entire cost of your HR Tech investments. From the software, implementation, training, migration, upgrades, hardware, resources, etc., it all needs to be taken into account in order to have a complete picture of your investment and to benchmark your success after purchase.
Unfortunately, most do not know or plan out the total cost of ownership and instead present only the cost of the subscription, setting themselves and their organization up for additional costs and challenges both for the immediate future and long-term as well. Understanding the difference between the software price and total cost of ownership of technology investment(s) is to calculate not only the subscription cost but also the implementation, short and long-term training, future upgrades, integrations, support, and the time-line prior to the ROI taking effect.
Specialists at Providence help you make this preparation to not only determine the total cost of ownership but prepare, implement, and succeed. Our experts work with all industries, although typically for mid-sized to enterprise organizations. Our expertise includes HR / Payroll (HCM), Benefits Administration, Time, ACA, and many other aspects of the Human Capital Management (HCM) market.
Below are additional HR Strategic Advisory that our Consultants can help you with:
For expert HR Strategic Advice, you can contact us online by completing the form below. Our team is ready to help your company streamline processes and services to enhance ROI and achieve business goals.