Today’s increasingly competitive global sales environment has made the need for effective corporate training and employee development more urgent than ever. In addition, increasing complexities in the workplace, along with more stringent regulations across many industries have added to the challenges faced by employees from companies of all size and from most every industry.
Given this, the global corporate training market is experiencing tremendous growth. The market, valued at roughly $330 million in 2019, is expected to reach nearly $420 million by 2027, for a CAGR of 9.4%.
As companies, especially smaller and mid-sized organizations, struggle to find the time and resources to allocate to the development and management of corporate training and employee development programs, there is a significant business and revenue opportunity for any organization that can provide the technology, content, and services required for these efforts.
SaaS-Based eLearning for Corporate Training
The continued evolution of SaaS-based technologies, combined with increasingly remote workforces, have shifted the delivery of most corporate training programs away from in-person based sessions, in favor of electronic learning, or “eLearning”. eLearning refers to the use of electronic technologies (the Internet, primarily) as the foundation for learning and training programs.
The core technology that supports any type of eLearning program, including corporate eLearning, is a learning management system, or “LMS”. An LMS provides the architecture to build, deliver, manage, and track your corporate eLearning program.
Any company that considers the use of an LMS to drive their corporate eLearning program is faced with several options.
On-Premises vs. SaaS-Based
One option for LMS deployment is in “standing up” the platform on your own servers. This is known as “on-premises” deployment and is typically only considered by very large organizations that have the financial and labor resources required to deploy and manage an LMS in this way.
Today, it is far more common for an organization to choose a SaaS-based approach in which they work with a SaaS LMS vendor to access the features and capacity they need to support their corporate eLearning program.
Single-Tenant vs. Multi-Tenant
A relatively recent development in LMS technology is in the availability of multi-tenant architecture. Whereas a single-tenant LMS allocates all of its infrastructure to the support of a single training audience, a multi-tenant LMS allows an administrator to launch and manage a dedicated instance of the application for each of your unique training audiences.
A multi-tenant LMS is ideally suited for Extended Enterprise Training programs, as well as for any company looking to offer LMS technology as part of a corporate eLearning offering.
The Demand for Effective Corporate eLearning Content
One of the greatest challenges an organization faces when rolling out a corporate eLearning program is in developing effective training content. It is estimated that the creation of a single course from scratch can take up to 300 hours and cost upwards of $15,000. Given that most organizations will need to develop a full library of courses to achieve their desired training results, in-house development of content can be cost-prohibitive for all but the largest, resource-rich organizations.
LMS Portals: A SaaS Partner Program for Corporate eLearning
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant LMS that allows an administrator to launch and manage a dedicated corporate eLearning portal to each of your unique audiences. Each portal can be branded and includes robust supporting tools for user onboarding, learning path creation, group management, live remote training, certificate awarding, analytics, and more.
In addition, we offer more than 140 ready-made and brandable courses, covering most every aspect of corporate training an employee development, making this a complete SaaS partner offering for corporate eLearning.