The corporate training market is large and multi-faceted, encompassing thousands of companies around the world. In 2019, the global corporate training market was estimated at just over $370 billion. Recent reports predict that, over the next five to seven years, the growth of this market will exceed previous expectations, given the continued shift to remote workforces. The market is now expected to grow at a CAGR of roughly 10% between 2020 and 2025.
These growth expectations, combined with an emerging preference for companies of all sizes to outsource various aspects of their corporate training needs to third-party providers present a significant opportunity for companies to enter the space as resellers of cloud-based training technologies, as well as the courses and content organizations will need to train and develop their employees.
An LMS for SaaS-Based Corporate Training
In the past, a company looking to develop a corporate training program was likely to build it around the use of in-person, classroom-based training. But in recent years, the emergence of highly effective and convenient SaaS-based technologies has shifted the foundation of most corporate training programs to electronic learning, or “eLearning”.
A learning management system (LMS) is the foundational technology for all types of SaaS-based eLearning, including corporate training and employee development.
An LMS is the software that is used to build, deliver, manage, and monitor an eLearning program. While some companies choose to “stand up” and LMS on-premises, they tend to be large organizations that have the financial resources to make the significant up-front investment in the software, hardware, and supporting technologies to run their own LMS. They also have the in-house labor required for the ongoing management and maintenance of the system.
It is far more common for companies to work with a third-party SaaS-provider to access the LMS features and capacity they need to run their program. These offering are typically subscription-based, allowing their end-user clients to increase (or decrease) platform features and capacity as their training needs evolve over time.
Challenges in Corporate Training Course Development
In addition to choosing an LMS deliver method, organizations must devise a plan for the development of effective training courses that are relevant to the specific needs of their employees. The growing demand for eLearning-based corporate training has made it very competitive (and expensive) to recruit and hire in-house Learning and Development (L&D) personnel. And once hired, it can take months for that team to develop the courses the company needs for an effective corporate training program.
LMS Portals: An LMS Reseller Program and Opportunity
LMS Portals is a SaaS-based, multi-tenant learning management system that allows an administrator to launch and manage a dedicated online training environment (portal) for each of its unique audiences. Each portal you launch includes a powerful course development engine, along with robust tools for user onboarding, learning path creation, group management, analytics, and more. The LMS Portals architecture is ideal for LMS reseller organizations as it enables you to dedicate a branded portal for each of your corporate clients.
In addition, we provide our reseller partners with a library of 140+ ready-made and brandable courses, covering most every aspect of corporate training and employee development.