3 Capabilities of a High Quality LIMS

Laboratories serve a vast amount of essential processes in the world today. For instance, a chemical testing laboratory will identify what materials are made of and test their quality to find if there’s anything that shouldn’t be there. Another example is a testing center that can detect diseases and develop treatments based on that sample.

To carry out these processes efficiently, the industry has had to innovate using technology that automates workflows and manages data. This is done through a laboratory information management system (LIMS) which is essential for labs to have today to provide the highest quality results. 

LIMS are commonly used because they offer far more in terms of performance efficiency and consistency in comparison to traditional methods of data management. Here are some of the features that have earned LIMS this reputation:

1) Process Execution

Whatever typical operating procedures or methods are utilized in a lab, this software system gives the laboratory full control over all of these aspects. In effect, the processes can be organized in a step-by-step format by technicians that will help analysts through the process. 

When integration is consistent, data can be downloaded in real-time during this process.

2) Integrating Instruments

LIMS instrument integration is a great way to interact with specific lab instruments by inserting files and directing their functioning. When it comes to data integration, security and customization are focal points for the LIMS to deliver. Instrument integration customizes this workflow by tailoring it to the needs of the laboratory. The benefits of this step also include:

  • Boosted productivity and efficiency 

  • Consistent innovation

  • Identifying which instruments need to be integrated (remember wants vs needs)

  • Improved integrity and quality of data

Lastly for this section, the LIMS will be able to take instrument files and extract data to test it for quality (QC assessment). 

3) Managing Data

Laboratories are continuously seeing more and more in-house generated data which has triggered the requirement for LIMS to be implemented to ensure top-of-the-line data management. 

The specific reason LIMS can benefit these workflows is through strategic configuration and archiving. 

Data files are standardized in the format of Extensible Markup Language (XML) in addition to having archived the original data file. What this allows for is the data to be accessed via computer and/or browser. 

Files from the archive can be migrated across all mediums. For systems that have data dating back years and years, this is a pivotal feature. 

When it comes to documentation, the LIMS operates entirely paperless. This boosts approval time and allows data to circulate, and files to be viewed in line with the needs of the lab. You can also expect to see cost reductions from paperless operations in addition to data efficiency and consistency.

The Importance of LIMS

The most evident advantage that laboratories with a custom LIMS will notice is that it offers a central platform where all information and activities can be stored securely. We could outline all the specific benefits and we’d be here for ages. With that being said, let’s take a look at 5 of the most important benefits that stand out:

  • Safety: The number one priority for labs that are managing sensitive workflows (such as chemical testing or sample management, for example) is safety. Keeping samples safe in addition to safekeeping data are two guarantees of a LIMS.

  • Speed: Again, the paperless approach is a lifesaver for lab companies who want to cut down the time it takes to send and receive information. Labs will also be able to cooperate as access to data can be shared.

  • Workflow Comfort: Ever expect to see those two words together? LIMS is a lab technician's best friend considering the level of their responsibilities. Technicians will take any and every opportunity to gain support for their day-to-day operations. LIMS are multifunctional, versatile, and scalable which is what makes this comfort possible. 

  • Compliance: Laboratory regulations are incredibly important as failure to stay in line with these regulations will result in serious repercussions (losses and legal action are among the many). LIMS ensures these guidelines are followed using its built-in compliance software.

  • Efficiency: LIMS are most admired for their efficiency in terms of facilitating and improving workflows. Again, lab technicians are the ones who benefit the greatest from the advanced functionalities. Labs can expect to see this apply to all performance facets with the right LIMS implemented.  

What’s Next? 

When a laboratory begins implementing its LIMS, there will be extensive evaluation and discussion regarding requirements, concerns, and engagement with lab technicians. This is important as some labs don’t take the necessary time to implement their systems and instead rush through the process with hopes it’ll revolutionize their operations. Don’t be in a rush, take your time, ask questions, and ensure that you’re building the best possible system for your laboratory.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

Why FinTechs Use Python

A business's long-term goals need to be aligned with the systems they implement to achieve an ideal outcome. FinTechs know this and those who make it a priority to fulfill their needs with the right software are the most successful. Startups looking to build digital products, for example, would run into challenges without effective solutions for a few reasons.

The first is that solutions need to allow businesses to scale, offer compatibility, and perform powerfully in a simple format. Additionally, the software that FinTech companies use needs to cater to the demands of the FinTech industry which innovates systems based on three things: 

Taking into account the facets that make an ideal software for a FinTech, it begs the question of how to create the best one. Every software requires a programming language, and with so many moving parts in this aspect, it can be intimidating for companies just beginning to plan their project. However, there is one language that has become a staple for development in FinTechs today: Python. 

A computer monitor displaying code

In 2016, studies began showing us the increased endorsement of Python among FinTech programmers. Of course, speaking on this 6 years later, making that statement wouldn’t be useful unless it was still relevant. In this case, the relationship between Python and FinTech has become more than just relevant and is now mainstream understanding. Why is that?

The Significance of Python

Not only is Python regularly ranked as one of the top three programming languages for people to learn and use, it is also heavily favoured by developers with well over 70% placing it as their most loved language. This goes to show you the kind of expertise that can be found and the resources available for FinTech startups looking for developers that can build an efficient platform. 

The reason for the wide-scale usage of Python can be attributed to the sheer simplicity of the language. What this entails is that programmers can use it to develop an application with ease. The result will be a platform that runs into fewer errors and bugs, which in the financial industry, being as regulated as it is, is pivotal as these issues can be detrimental.

How Python Makes a Developers Job Easier

Python offers open-source financial libraries that eliminate the need for developers to build add-ons from the ground up. Here are 5 of the top tools that Python can deliver for financial institutions:

  • ffn - financial function library

  • pandas - tool for analyzing and manipulating data

  • finmarketpy - used to backtest financial markets and trading strategies

  • NumPy - a scientific computing package

  • pyalgotrade, zipline - libraries for algorithmic trading

There are many more tools like these that are used for economic measuring, stocks, and finances, the majority of which are going to be compatible (via API) with the application built for your FinTech. This list is just to get a sense of Python’s capabilities when used to create financial applications. 

Bitcoin Graph

Another one of the most important things to understand about Python today is just how flexible it can be. In the financial sector, it’s great for managing sensitive data, crypto markets, banking, trading, and much more. However, the language can be used for just about any software development involving task automation, website building, or analyzing/visualizing data. All of these are regular needs for business applications.

Life For FinTech Startups Today

As of this year, there are around 30,000 FinTech startups. While China is one of the biggest markets for this technology, North America still holds limitless potential. 88% of Americans use FinTechs and 70% of the world's payments are processed through companies based in Atlanta alone. The growth potential is still there as the technology becomes mainstream with younger generations. What won’t change is the need for consistency in terms of performance. 

The Takeaway

In the financial industry, it’s pivotal that there is trust between the client and the firm. Technology is the most trusted resource in the world. The combination of the two leads to a product that requires flawless input and output processes. FinTech requires automation and management which is why choosing the right coding language is important as this will dictate how well your application can perform. It all starts with a vision.

Written By Ben Brown

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.

 
 

7 Reasons Digital Transformation Is the Best Investment for Your Business

As a business owner, you know that the best way to grow your company is through digital transformation. But what does that mean?

Digital transformation refers to a company’s move from traditional ways of doing business to a new, more digital-friendly approach. The term digital transformation is used by companies and individuals alike to describe the process of moving from traditional business models to those that rely on technology and data.

Digital transformation means making changes to your business processes, systems and tools so that your company operates more efficiently. It can be as simple as updating your website or as complex as building a mobile app. The key to digital transformation is that it needs to be specific to your business — not just another generic software solution. Finding the right custom software development company can make all the difference in a successful transformation.

In a nutshell, the greatest benefits of digital transformation include:

  • Rethinking how your company uses technology to streamline processes and create better customer experiences

  • Investing in analytics software that helps you make better decisions about your business

  • Increasing security and protecting your data in an era where cyber-attacks are on the rise

  • Automating processes to capitalize on technology’s ability to fill the labour shortage gap

Let’s go into each category and explore the full range of benefits that come with digital transformation, and discover why 56% of companies are currently prioritizing digital transformation worldwide as of 2021.

  1. Enhance Customer Experience

The consumer's expectations have changed, and businesses are looking for innovative solutions to meet those demands. According to Forbes, companies that lead in customer experience outperform laggards by nearly 80%.

Custom software can lead to a better customer experience by making your products and services faster, easily accessible, and easier to use.

"Customer experience" or "CX" refers to the emotions and feelings that customers have when interacting with a brand. Think of a time you had difficulty getting what you wanted out of a business. You might have experienced frustration, anger, or even disappointment. On the flipside, you might have had a great experience, where a website was easy to use and allowed you to access what you needed right away. Which one would you recommend to your friends and family?

To put it simply, CX is how your customers feel about their interactions with you — whether it's good or bad.

There are many benefits companies can reap from using custom software to improve CX:

1) Improve the onboarding process for new customers with a streamlined design

2) Make it easy for customers to find what they're looking for on your site

3) Reduce drop off during checkout by simplifying the purchasing process

4) Increase likelihood of users recommending your product or service to others

5) Establish brand dominance by offering an innovative and positive exchange with users

Having a high rating for customer experience suggests a culture within the business that embraces innovation and adapts quickly to change. These are vital qualities consumers are looking out for in today’s world. It’s up to you to stay up to date or risk losing valuable customers to your competitors.

2. Business Intelligence Plays a Crucial Role in Entrepreneurial Success

Often overlooked is the valuable data within a business. The ability to summon certain data, have a program automatically organize it in meaningful ways, or to use it to calculate forecasts can make a world of difference. This is what digital transformation can do.

In order for entrepreneurs to succeed, they need access to the right information at the right time — especially when making critical decisions about their business’s future.

How will sales grow? What challenges do customers face when using your product or service? Do you have enough cash left in your bank account to make payroll next month? These are just some of the questions that could be answered through BI software.

BI is an umbrella term for all sorts of tools and technologies that help companies gain insights into their operations and allow them to make informed decisions about how to improve their performance over time. BI can be used for predictive analytics, which provides insight into future trends and patterns. Predictive analytics can also be used for forecasting and scenario planning, as well as for risk analysis and fraud detection.

Data is the new currency. The more you have, the more you can do with it, whether that be analyzing trends or making decisions based on data points that would otherwise be impossible to evaluate.

Understanding the role of Business Intelligence in company success is essential for those looking to build their own enterprise from scratch or take an existing one to the next level.

The fact is that businesses need accurate data in order to make decisions that will help them grow bigger and stronger over time, but not every company has access to this kind of information at their fingertips yet.

3. Digital Transformation is the Fortress Protecting Your Business

The internet is a dangerous place. With millions of people connected to one another and sharing information online, there’s no shortage of cyber criminals looking to exploit any vulnerability they can find.

Custom software development can be a key component of your digital transformation strategy by helping to keep your enterprise safe from cyber attacks.

Here are some ways custom software development can help protect your business:

Secure Data Storage

With cloud-based solutions becoming increasingly popular, it’s important to have a secure way to store data in the cloud without compromising security or privacy. Custom software development can help ensure that any data stored in the cloud is encrypted and protected from unauthorized access by using strong encryption algorithms and strong passwords to protect information stored on servers or mobile devices.

Secure Communication Channels

Custom software development can also play an important role in securing communication channels between employees within your organization as well as between employees at different companies who may be collaborating on projects together.

4. Mitigate the Setbacks of the Labour Shortage with Automation Tools

One of the biggest challenges facing businesses today is finding and retaining skilled workers. In fact, 49% of business leaders report that the top impediment to growth is the shortages of qualified job candidates to fill open roles.

So how can you solve this problem? One way is by automating roles that are otherwise going unfilled due to lack of experience or expertise required to fill them efficiently and effectively.

Through digital transformation, companies can use automation as an essential tool for improving productivity without increasing costs or staffing levels. While automation contributes directly to productivity by performing routine tasks faster and more accurately than humans can, it also creates a foundation for innovation by freeing up workers’ time so they can focus on higher-value functions.

5. Get to Market Faster and Continuously Improve Systems

Digital transformation should be a top priority for businesses because it can help you get your product or service to the market faster and allow your business to continuously improve systems.

That's because it increases speed, improves quality and reduces costs for your organization. The goal is to enable faster decision making that leads to better outcomes for customers and employees alike.

Digital transformation requires you to understand what's possible with technology and then build it into your existing business processes. It's not just about adding new technology but also leveraging existing assets in new ways — like artificial intelligence (AI), machine learning and automation software — so they can be applied more effectively throughout the organization.

Digital transformation is more than just adopting new technologies; it’s about changing the way you operate to bring about a fundamental shift in how you do business. It enables organizations to go from being product-centric to customer-centric, from batch-based processes to real-time interactions, from siloed systems to integrated operations, and from data storage to data generation and analysis.

In other words, digital transformation is an opportunity for businesses to transform their internal processes and systems so they can better serve customers and compete in a fast-moving marketplace.

6. Increase Overall Revenue With Higher Output Volumes

The benefits of digital transformation are endless. However, one of the biggest advantages is that it can help your business increase overall revenue with higher output volumes.

Digital transformation means that the company is able to leverage the power of technology to improve its efficiency and productivity, as well as reduce costs. This translates into increased profits for the business.

The digital transformation of your business is a long-term process. You need to start small and add more features over time. But it’s worth it. Why? Because you’ll be able to do more things with your business, which will lead to more revenue.

The digital transformation of your business isn’t just about getting new customers or improving the customer experience. It’s about increasing your output volumes as well.

Here are some ways that digital transformation can help your business increase overall revenue with higher output volumes:

- Automate processes and streamline data organization

- Increase the productivity level of your employees

- Reduce costs through automation

7. Provide a positive employee experience

When you think about the concept of digital transformation, it's easy to focus on the technology itself. The cloud, artificial intelligence, and big data are all important parts of this effort, but they're not the only part. As much as these technologies help you make better decisions and run more efficient operations, they can't take care of everything.

Employees Are More Creative Than Algorithms

You may have heard about how technology is taking over the workplace, but this isn't necessarily a bad thing. Building off of our earlier point, using technology to cover mundane tasks can free up your employees to work on more meaningful things. Humans have a great capacity for creativity, innovative thinking, and conceptual problem solving that technology just can't match yet. Instead of wasting your resources giving your employees tasks that are time consuming and repetitive, allow the power of digital transformation to decide what can be done through an algorithm. Your business processes can be accomplished through customized programs that allow your workers to worry about the tasks that will ultimately contribute to the overall success of your business.

The Takeaway

Digital transformation has become the primary focus for many businesses because it allows them to improve operational efficiency, reduce costs, enhance customer satisfaction and increase revenue. If your business is looking for ways to grow its bottom line, then you should consider making digital transformation part of your strategy using a qualified team of professionals.

In summary, the benefits of digital transformation are endless:

  • Improve customer experience

  • Make informed company decisions

  • Protect your business from the ever-increasing risk of cyber attacks

  • Increase operational efficiency and reduce costs at every level of your organization through automation

  • Get your products & services to market faster and improve your systems consistently

  • Boost overall revenue

  • Provide a better employee experience

Written by Natalie Mansilla

ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.