New LIMS Industry Study Confirms Standardization Reduces Total Cost of Ownership

02-Sep-2004

Thermo Electron Corporation (NYSE: TMO) has announced findings from a market survey on LIMS (Laboratory Information Management System) standardization and Total Cost of Ownership (TCO), conducted on its behalf by IDC, a Framingham, Massachusetts-based research and consulting firm. The new study identifies and quantifies a number of compelling benefits that can be realized from harmonizing processes and standardizing on a single global LIMS. Entitled "Standardizing on LIMS: TCO and ROI for the Multi-Lab Setting", the study is the first of its kind to investigate the IT and business value of LIMS standardization.

IDC's study is based on in-depth interviews with senior LIMS and IT managers at leading companies, in industries such as pharmaceuticals, chemicals, food and beverage, and oil and gas, that have either standardized or are in the process of standardizing on one LIMS solution. Participating companies, including Thermo LIMS customers, cited the potential for reduced IT personnel, improved reporting and easier access to data as the principle reasons for standardizing on one LIMS. Key findings of the study include:

- Companies reported as much as a 40% reduction in TCO by standardizing on one LIMS.

- Annual benefits of approximately $300,000 per lab were realized from implementing a standardized LIMS.

- On average, companies improved IT efficiency and were able to reduce their IT staff supporting LIMS by 57%.

- User support activities, applications management and validation, time devoted to troubleshooting and data management were typically reduced by as much as 90%.

TCO is a business concept model that helps organizations account for all direct and indirect costs incurred throughout the lifecycle of an IT asset, from original acquisition through retirement. Commenting on the study, Jim Neville, Director of Marketing and Business Development of Thermo Electron's Informatics business, stated: "This groundbreaking study confirms that our customers are realizing substantial cost savings and impressive operational benefits from implementing Thermo?s LIMS as a global standard. Further, the study reaffirms the critical role a vendor plays in rolling out a global solution and the importance of selecting a vendor capable of delivering and supporting a standard solution across different geographic locations."

https://www.chemeurope.com/en/news/39386/new-lims-industry-study-confirms-standardization-reduces-total-cost-of-ownership.html