Looking at other industries - such as industrial manufacturing - it becomes clear that they have already taken a new direction years ago through developments like Industry 4.0, digital twins, or machine learning. Laboratories are now facing similar challenges, as demands placed on them continue to grow. The key to the laboratory of the future also lies in digital transformation: it's about achieving maximum performance and connectivity. This white paper examines the current challenges faced by laboratories and focuses on the central question: what role do Laboratory Information Management Systems (LIMS) play on the path to Lab 4.0? In doing so, it outlines the specific requirements a modern LIMS must fulfill.