According to recent studies, the corporate learning and training industry is now worth more than $320 billion and is expected to grow by an estimated CAGR of 9.7% between this year and 2027, to nearly $420 billion. The size of the industry and its anticipated growth present a significant revenue opportunity for both software providers and resellers in this space.
Today, companies of all sizes and from most every industry are looking to develop employee skills that can help to drive growth. These organizations are looking to align the capabilities of their workforce with emerging business needs. Offering comprehensive and ongoing corporate learning and training programs can help in the achievement of these goals while also making it easier to attract quality talent to the organization.
The Emergence of eLearning for Corporate Learning and Training
In years past, the only opportunity available to companies that were looking to implement corporate learning and training programs was classroom-based, in-person sessions. While this approach did prove to be effective, it created challenges in that it was both expensive and inconvenient for both employees and instructors.
Over the past decade or so, online learning, or “eLearning” has emerged as a preferred approach to corporate learning and training as it eliminates many of the costs associated with in-person training. And with eLearning, employees can conduct their training activities at their convenience and work at a pace that suits their unique learning style.
While eLearning can impact all areas of the organization, some of the primary topics and courses tend to include:
New hire orientation and onboarding
Employee skills training
Sales and customer service training
Workplace culture and diversity
Learning Management Systems for Corporate eLearning
The core technology that supports all types of eLearning programs, including corporate training, is a Learning Management System, or “LMS”. An LMS is the application that is used to build, deliver, manage, and track employee engagement, progress and success of your corporate training program.
While LMS technology is not new, two options have emerged that are well-suited for corporate training and employee development programs.
While some vendors choose to “stand up” an LMS on their own servers, they tend to be large organizations that have the financial and labor resources for both the initial implementation of the system and its ongoing management. It is far more common today for companies to work with third-party cloud vendors who offer access to robust LMS infrastructure over the Internet. This approach allows you to be up-and-running quickly with LMS services and eliminates the need for a large, up-front capital expenditure. It also shifts the responsibility for the ongoing management and maintenance of the system to the cloud vendor.
A second, more recent development in LMS technology is in the availability of multi-tenant architecture. Whereas a single tenant LMS dedicates the entirety of its infrastructure to use by a single training audience, a multi-tenant LMS allows you to “spin up” new instances of the application on-demand to create a unique eLearning environment for each of your training audiences.
A multi-tenant LMS platform is particularly well-suited for third-party corporate training and reseller organizations that need to offer a branded, private eLearning environment for each of their clients.
LMS Portals for Corporate eLearning SaaS Resellers
LMS Portals provides our SaaS reseller partners with a SaaS-based (cloud), multi-tenant learning management system that allows you to launch and manage private eLearning environments (portals) for each of your clients and unique training audiences. The system allows you to launch new portals on-demand, and each branded portal includes powerful supporting tools for course development, user onboarding, collaboration, analytics, and more.