As the business environment becomes more complex for companies of all sizes and operating in just about any industry, the demand for corporate training and consulting continues to grow. In fact, a recent industry report predicts that the U.S. corporate training market will increase at a CAGR of 10% for an incremental growth of $ 19.51 billion between now and the year 2024. This growth presents a significant opportunity for those businesses that can assist companies in their corporate training and employee development efforts.
In years past, the only viable option for corporate training programs was in classroom-based instruction. But in recent years, the evolution and improvement of cloud-based technologies, combined with an increasingly remote workforce (accelerated by COVID-19), online learning (also known as “eLearning”) has emerged as the preferred approach to corporate training efforts. And the foundational technology used for all types of eLearning, including corporate training and workforce development, is a Learning Management System (LMS).
Types of Learning Management Systems
When choosing a deployment option for an LMS, some companies opt to deploy and host it themselves, on-premises. While this option does provide for full control of the system, the companies that choose this route are usually very large and have the resources (both labor and financial) for this project.
Smaller and medium-sized companies tend to prefer to work with a cloud or” SaaS-based” LMS vendor who can offer the use of their LMS platform on a subscription basis, delivered via a web browser. There are several benefits to a SaaS-based LMS offering:
Minimal Initial Investment
In choosing a SaaS-based LMS, you eliminate the need to make a large capital investment in the software, hardware, and supporting infrastructure required to deploy the system as this infrastructure is provided to you by the SaaS vendor.
Minimal Ongoing Expenses
A SaaS LMS also reduces the need for ongoing management and maintenance of the system as this is typically included in the service offering.
Most SaaS-based LMS vendors offer their service on a subscription basis, which allows you to select a plan that meets your company’s current needs for features and capacity. Under this model, you ensure that you are not paying for capacity that your company does not need.
With a SaaS LMS offering, you can scale the system as your eLearning and corporate training needs grow. And you can accomplish this without having to deploy any additional hardware or software.
Multi-Tenant v. Single Tenant LMS
The other option you will have in determining which type of LMS deployment is best for your company is in choosing between a single tenant or a multi-tenant system.
A single tenant LMS is a deployment and architecture approach in which one instance of the application and its supporting resources is dedicated to one specific client. This deployment is typically used by companies that are “standing up” an LMS for their own, in-house use as it does not allow for the dynamic creation and allocation of multiple learning environments. And while it does offer a great deal of flexibility for that single deployment, it usually comes at a significant cost.
A multi-tenant LMS, on the other hand, can be ideally suited for any company that is looking to monetize corporate training across multiple clients. With a multi-tenant LMS architecture, you can “spin up” new instances of the application using a single set of resources. This dynamic approach to LMS deployments allows eLearning-based corporate training organizations to launch new, private eLearning environments (portals) for each of their clients and training engagements.
LMS Portals: eLearning for Corporate Training and Consulting Engagements
LMS Portals offers a cloud-based, multi-tenant learning management system that allows our corporate training and consulting partners to launch and manage private eLearning environments on-demand. Using our system, you can quickly launch new eLearning portals as your sign-up new corporate training clients, and each portal can have its own corporate branding, user onboarding system, messaging tools, analytics, and more.