Why businesses develop Learning Management systems? – Key facts and benefits

These words of wisdom still ring true. Even in this rapidly advancing world; where change is the only constant. We have been to the moon and back, witnessing behemoths like Amazon, Apple and Alibaba change the way we work and live. And yet, we are farfetched from the realities of Learning.

Empires and enterprises are created and expanded by knowledge and learning. But, much to the dismay of most people, learning is tough love. It takes both effort and persuasion for adults to learn and teach others. More so in this digital world, where technologies are influencing our way of life with modern LMS.

A custom Learning Management Systems that automate learning and information accessible from anywhere anytime is the need of the hour. Having said that, parting knowledge to others in an organization without obvious benefits is a non-starter. And that’s the reason most LMS portal development projects become dud.

A study found that only 40% large organizations support LMS solutions and the ones who have them installed, only 35-45 % of their staffers use it for knowledge transfer. This makes learning for employees, managers and partners updated with the most updated information challenging.

Key Facts of Learning Management System:

1. The LMS market will grow from $5.22 billion to $15.72 billion by 2021.
2. According to the Ambient Insight’s Self-paced eLearning Market report revenues will reach $53.0 billion by 2018.
3. According to the Training Industry Report,
   • 44% intend to purchase online learning tools and systems
   • 41% are looking into purchasing Learning Management Systems (LMSs)
   • 37% plan on purchasing authoring tools/systems
   • 33% aim to purchase classroom tools and systems
4. The Ambient Insight’s 2014-2019 China Mobile Learning Market research states that “the five-year compound annual growth rate (CAGR) for Mobile Learning products in China is 15.4% and revenues will more than double to $2.3 billion in 2019.
5. Users select LMS software mainly based on functionality (53%), followed by price (32%), support (5%), company reputation (3%), and software popularity (3%).
6. By the end of 2017, 98% of all organizations will use video-based training programs in their digital learning strategies.

How an LMS software helps businesses?

An LMS system is not just a typical web portal. It is a cross between an Intranet Portal Development and an Enterprise Content Management System. It can become a document management system and a training portal when a need arises. Most importantly it empowers employees to share their thoughts, research and information on wide range of issues including organizational goals and feedback.

Blended Learning

A Learning Management System is designed to make blended learning a possibility with combined learning propositions like eLearning, mobile learning, simulation learning and traditional classroom training sessions.

The LMS software acts as a central repository to ensure information is available to all the stakeholders any time on their favorite mediums. Apart from that, exposing your employees with the same information albeit in different forms and through different media helps them retain key parts of information you wish them to partake.

Performance Support

An LMS software delivers robust performance support to all the employees with all the materials and demos to enhance their skills. It also flags important documents that need to be looked at while evaluating a report or prompts them to re-examine critical issues while solving erroneous tasks.

Learning Management Systems are tasked with document management to allows access when requested. This helps employees access key information during writing documentation.

Consolidated Training Statistics

A Learning Management Software helps enterprises collate all the training data conducted on various platforms whether they’re online or offline. It saves precious time for managers when evaluating employee performance and participation along with monitoring their progress on key indicators. Moreover, it also serves as an indicator for a person is doing and his progress on a certain training.

It also maintains all materials and files at a central location ensuring all the employees access the same information from the same place negating any chance for conflicting information. An LMS also indicates if the course needs to update with employee or partner training interest to fasten the learning process.

Training Cost Reduction

Ask any HR manager or large enterprise about their biggest worry and they would unanimously say “Training Costs”. This is the most arduous discussion among most business boards and management. How to reduce training costs? A custom Learning Management System will reduce training costs drastically with digital learning.

It saves all the training modules at one place that can be accessed via any computer, reducing precious man hours that go into training. A digital experience of straightforward learning that has Audio and Visuals will speed up the learning process and provide a timely report to reporting managers on the progress. This way, an LMS software not only reduces training costs but also saves revenue that goes into employing people just to manage training sessions.

Flexibility to Learners

Class-based learning is getting replaced with digital learning or eLearning. An LMS portal speeds up this process. Make videos and tutorials and just upload them to learning portals. An employee can also join in with easy answers or solutions based on his/her understanding, thereby making the whole knowledge transfer process interactive.

Invariably, the ease of information access from any location and device makes it really quick and easy for learners. They can see, post and share videos, notes, information, documents literally while on the run and make social collaboration a reality.

Compliance Made Easy

Whether its company policies or government laws or international standards, an LMS software shields you from penalties by informing customers, partners and employees of upcoming changes. It keeps you on the right side of the laws, thereby ensuring compliance round-the-clock.

An innovative learning management software keeps track of every legislation update and training staffers with changes along with compulsory training and certification make it that easier for you to be a step ahead of your competitors as well.

Increased Social Learning

The world is becoming Socials, well at least on online platforms. All customers, employees, partners and members have an online presence on social media and it is really easy and almost free to connect with them. An integrated LMS portal will have an inbuilt social collaboration system that allows stakeholders to share information with the world outside of the organization albeit under strict permissions and control.

This ensures customers and other stakeholders are updated with the latest information and know what to expect from the organization. Moreover, peers can participate with healthy comments on each other’s posts, blogs and articles. This makes it a real collaborative learning digital experience platform.

Leveraging Technology

The world is in the midst of a digital transformation. Technology has changed our day to day activities in every sphere. From online shopping to booking to reading, people are going to leverage the technology because it fits eases their schedules and preferences beautifully.

Similarly, leveraging technology at a workplace is like killing two birds with the same stone. One, you can deliver learning process on the devices that your employees prefer. Second, winning favor for being a techno-friendly organization rather than one which discourages technology. And your LMS portal manages all the back-end work.

Conclusion:

A new customized and innovative Learning Management System not only automates the learning process but also integrate your legacy systems with your modern LMS software. It provides powerful reporting features capable of managing all types of third-party content. It can manage peer-to-peer and on-the-job training too. Learning Management System portal makes learning activities the main driver seamless integration of performance management, resources allocation, career development, compensation planning initiatives.

Learning Management Systems have intangible and far-reaching benefits than what most businesses think. A customized eLearning Management System not only paves way for stakeholders to understand the business processes and operations, but also share vital inputs to refine those processes to create a better organization.

If you are looking to develop Custom LMS Portal to empower your organization. Reach us at marketing@knowarth.com