A report by Bioinformatics has offered industry solutions for optimising service and maintenance contracts and explored ways to balance risk, quality and cost.
The report, entitled 'Instrumentation Service Contracts: Opportunities for Differentiation', provides a market overview and analysis of the most common types of contracts offered in the life sciences market.
While almost one-half of maintenance and service contracts are with the original equipment manufacturer (OEM), customers are more frequently turning to alternative suppliers.
According to the life scientists surveyed for the report, in addition to dependability, customers also expect personalised service and maximum flexibility.
The report found that 49 per cent of maintenance and service contracts are for a year's duration.
36 per cent of scientists who are disappointed with service would give contract providers a second chance and request a contract extension.
41 per cent of respondents are highly interested in consolidating maintenance and service contracts with a single OEM.
The report provides suppliers with a roadmap for differentiating service offerings in order to build customer loyalty and charge premium prices.
Tamara Zemlo PhD, director of syndicated research and analysis at Bioinformatics, said: 'Navigating the complex terrain of service and maintenance contracts poses new challenges for life science suppliers.
'Instruments have become more sophisticated and customers are more demanding.' She added: 'The vendor-client relationship necessarily includes understanding customer preferences, actively increasing positive touchpoints and educating customers as to how a particular service offering is unique.
'Our report provides suppliers with insights from over 500 life scientists with regard to all of these strategic areas.'
