In looking at any cost/benefit study, one must examine both words; Costs and Benefits. In a GIS implementation this is especially true because of the many parts that make up such a system. It is also important to the small to medium sized utility which does not have the time, money or manpower to implement a system that could compete with that of a larger utility. Any company, big or small can benefit from the use of GIS. In the case of the Toms River Water Company, the benefits range from $2.20 per customer savings (tangible benefits) to better communications and effective use of data (intangible benefits). Needs analysis, potential cost benefits, hardware and software, application development, training, and implementation pitfalls information is given.