With today’s increasingly complex and highly regulated global work environment, corporate training and employee development has never been more critical. In fact, the global corporate training market is poised to grow by more than $52 billion between now and the years 2024, representing a CAGR of 10% during this period. And given the fact that some companies would prefer to outsource their training needs, there is a significant revenue opportunity for training and consulting firms that can provide these services on an outsourced basis.
Along with the growth in demand, there has been an interesting shift in the delivery of corporate training. Where in years past the most common method of providing training was through classroom-based instruction, online learning (commonly referred to as “eLearning”) has emerged as the cornerstone of corporate training and employee development programs. And while this shift in preference has been well underway for the past decade or so, it has been accelerated by the availability highly effective cloud-based technologies combined with increasingly remote workforces.
The foundational technology that drives all types of eLearning programs, including corporate training and workforce development, is a Learning Management System, or “LMS”.
Working with LMS Software
An LMS is the software application that is used to build, deliver, and track your eLearning-driven corporate training program. When choosing how to best deploy your LMS software application, you have several options.
Cloud v. On-Premises LMS Software
For some companies, deploying their LMS software on-premises is seen as their best option, given the high level of flexibility this model offers. However, this approach is typically best-suited for very large organizations that can allocate the resources (both financial and labor) to implement and manage the system.
For small and mid-sized businesses, working with a cloud, or "SaaS-based", LMS offered by a third-party vendor is often a better option as it eliminates the need to make a large, up-front capital investment in software and hardware. This model also offloads the ongoing management and maintenance of the system to the cloud LMS vendor.
And with cloud LMS software, scaling the system to meet growing needs as there is no need to acquire and deploy additional technical resources. This opportunity for expansion is made easily available by the cloud vendor.
Multi-Tenant v. Single Tenant LMS Software
In a single tenant LMS deployment, one instance of the software application and its supporting components is made available to one client. This approach is best-suited for organizations that plan to use the LMS strictly for in-house training and do not see a need to deploy multiple instances of training environments.
A multi-tenant LMS architecture and deployment enables your company to launch multiple instances of the LMS software application using shared resources. This efficient approach to LMS deployments is ideally suited for corporate training and consulting firms. It is also a good choice for an organization that may want to launch segmented learning environments for employees, partners, and customers or some other logical separation of environments.
Common Use Cases of LMS Software for Corporate Training
While LMS software can impact numerous areas of your corporate training efforts, some of the most common use cases tend to include:
Employee orientation and onboarding
Skills development and enhancement
LMS Portals: LMS Software for Corporate Training
LMS Portals provides a cloud-based, multi-tenant learning management system software application that allows our clients and partners to dynamically launch and manage multiple, private eLearning environments (portals). Each portal you launch can have its own corporate branding, user onboarding system, messaging and collaboration tools, analytics, and more.