E-Notebook ROI (Return On Investment)
E-Notebook provides a unique opportunity to increase the productivity of researchers through the deployment of information technology. While many industries, such as the financial industry, have seen dramatic productivity improvements through IT investments, the hand-crafted nature of scientific research has limited the return on investment for IT initiatives.
Indeed, scientists track the work they perform much as Louis Pasteur did in the late 18th Century – by making copious, hand-written entries in paper journals. Work flow analyses of scientific research highlight the critical role of the lab notebook in the day-to-day activities of scientists and show that, without an electronic notebook, the application of technology is limited.
By providing a dependable, convenient means for scientists to enter their experimental records in an electronic system, ENotebook provides the foundation for the significant application of information technology to research–intensive disciplines. The financial return for such IT investments is quantifiable and significant.
Return on Investment of E-Notebook
- Direct Return - over-all productivity gain of 12.5%, which translates into an over-all cost-savings of approximately $25,000/user/year.
- Costs and ROI Calculation – charts and assumptions
- Direct Return with Hybrid Use Case
- Financial Collateral Returns
- Non-financial collateral benefits – audit trail, adherence monitoring, & accuracy improvements
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