The growing demand for corporate training has created a significant revenue opportunity for companies that offer this outsourced service for employee knowledge and skills development. As the global workplace increases in complexity, businesses of all sizes are making the decision to invest more heavily in their most valuable asset: their employees. In fact, recent studies suggest that the corporate training industry will grow by a CAGR of more than 10% over the next four years, for an increase in total revenue of more than $53 billion for the industry.
At the same time, corporate training is seeing a significant shift in terms of how it is being delivered. Where in the past, classroom-based training was the preferred method of delivery, online learning, commonly referred to as “eLearning” has become the cornerstone of most corporate training programs.
Two factors are driving this shift in corporate training delivery to eLearning:
Increasingly remote workforces (a trend that was already occurring, but accelerated by COVID-19)
New and better offerings in cloud-based technologies that support eLearning
Choosing an LMS for Your Corporate Training Company
The core technology that supports all types of eLearning programs, including corporate training and workforce development, is a Learning Management System, or “LMS”. If you are a training company looking for an LMS to support and drive your third-party corporate training offerings, you will have several choices available to you in LMS architecture and delivery.
On-Premises v. Cloud-Based Hosting
While some companies choose to host their LMS in-premises, using their own servers and infrastructure, they tend to be very large organizations that can commit the up-front capital needed to acquire the software, hardware and supporting infrastructure for the implementation. They also have the in-house resources available for the ongoing management of the system, including ongoing maintenance and upgrades.
Because corporate training companies prefer to focus their efforts on the development and sale of great offerings to their clients, a cloud based LMS is typically a better option. Under this approach, your company works with a third-party LMS vendor to leverage their cloud or “SaaS-based” offering of an LMS application. This cloud-based model eliminates the need for you to make a large, upfront investment to “stand up” the system as you are accessing the cloud LMS, typically on a subscription basis. The cloud-based vendor will also take care of the day-to-day management of the system, allowing your corporate training company to focus on its core strengths.
Multi-Tenant v. Single Tenant
In a single tenant deployment of an LMS, the entire deployment of the application and its supporting components is dedicated for use by one client or learning environment. And while this approach does offer a significant amount of flexibility in the application, it is not well-suited for a corporate training organization that needs to be able to dynamically launch and allocate new learning environments (portals) as you bring on new clients for corporate training.
In contrast, a multi-tenant LMS is an architecture that allows one deployment of the application to securely share resources across multiple clients. This approach provides better support for corporate training companies, as it allows you to launch new training portals (often in a matter of minutes) to support new clients as you sign them up.
LMS Portals: A Cloud-Based LMS for Corporate Training Companies
LMS Portals is a cloud-based, multi-tenant learning management system that allows our corporate training partners to launch and manage multiple eLearning environments, all from a centralized console. Using LMS Portals, your corporate training company can dynamically launch and easily manage new, private learning portals for your clients. Each portal you launch can support a training of any size and length of time and can be uniquely branded for that client. And each portal includes its own supporting components for user onboarding, messaging and collaboration, analytics, and more.