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New Study Presents Current Service and Cost Benchmarks for Corporate Libraries and Information Centers
Date:7/24/2015

CHAPEL HILL, N.C., July 24, 2015 /PRNewswire/ -- Corporate libraries and information centers are under increasing pressure in today's environment of shrinking business resources. To meet those pressures, libraries and information centers need to demonstrate their value to their organization. That means library leaders need to know whether their activities are cost effective and whether they are spending in the areas that have the greatest impact for their customers.

Research and consulting leader Best Practices, LLC undertook this new study to benchmark the services and resources of corporate libraries within the biopharmaceutical industry. This study will help library and information leaders compare the scope and delivery of library services at their companies with those at other organizations. In addition, this research study will help library and information center leaders compare the budget, cost recovery and staffing for library services at their companies with those at leading organizations within the biopharmaceutical industry.

One-third of participating libraries do not recover costs for the services and resources they provide, while others used more than one method, according to "2015 Library Services Benchmarks: Corporate Library Services in the Pharmaceutical & Medical Device Industries." The most common method for recovering costs is asking heavy user groups to chip in to pay for specialized resources.

Some of the issues addressed in this research include:

  • Use of vendors in services delivery
  • Financial resources
  • Cost recovery practices
  • Distribution of FTE hours by service category
  • Penetration of potential user base
  • Forces of change likely to impact libraries in the near future

The full 52-page report contains more than 400 metrics, providing library leaders with critical benchmarks that will allow them to compare their operations with those of leading organizations. Review a complimentary summary of the study at http://www3.best-in-class.com/rr1366.htm.

Twenty-nine companies participated in this benchmarking study. Among the participants, 17 represented pharmaceutical companies, five were medical devices libraries, and seven represented health science libraries in other industries. Data is presented for the total benchmark class and for the pharma segment.

For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.

 


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SOURCE Best Practices, LLC
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