// Metrics
TCV
Also known as Total Contract Value
Total Contract Value, full multi-year contract value including one-time fees, services and expected overages.
In depth
TCV is the biggest number in the deal and the most gameable. A 3-year $300k ARR deal with $50k of services has $950k TCV. Boards want ARR; sales leaderboards often show TCV; the two must be reconciled.
Related terms
ACV
Annual Contract Value, normalised annual revenue from a customer contract, excluding one-time fees.
ARR
Annual Recurring Revenue, the run-rate of contracted subscription revenue at a point in time.
Bookings
Signed contract value in a period. Not revenue; not cash. The leading indicator RevOps lives on.