In order for the client to choose an ERP solution within budget, Panorama conducts a cost assessment of potential vendors early in the project. This high-level analysis is designed to eliminate vendors that provide software that is too costly or risky relative to the client’s business needs. The intent is that the initial total cost of ownership (TCO) analysis will provide a budgetary estimate in the +/- 15-percent accuracy range to help eliminate potential vendors that do not meet pre-defined cost criteria. The TCO analysis is the starting point for narrowing the vendor long-list to a short-list. The TCO estimate is further refined once an initial vendor decision has been made.