Electro Rent Europe now has created a brand new Cost of Ownership whitepaper and calculator which show you how to save money!
Cost of Ownership definition according to the Business Dictionary: “Estimate of all direct and indirect costs associated with an asset or acquisition over its entire life cycle”
Whenever test equipment is provisioned a Cost of Ownership calculation should be undertaken. In most of the cases the calculation is used to decide between alternative test strategies and alternative equipment suppliers.
However, Cost of Ownership analysis is also important when considering the acquisition alternatives available and this usually involves a comparison between the rental, lease or purchase of equipment.