The global business environment is more challenging than ever. In addition, there is an increasing amount of complexity with regard to workplace policies, behaviors, and employee expectations. Given this, the corporate training is now among the fastest growing industries and offers a great deal of opportunity to any organization that can help their client companies develop and deliver effective training programs.
For perspective, the global corporate training market, estimated today to be just over $330 billion, is expected to grow at a CAGR of nearly 10% over the next five years. Vendors and resellers who can fulfill this demand with corporate training technologies, content, and services all stand to benefit from this growth and demand.
eLearning-Based Corporate Training
The evolution of SaaS-based technologies, combined with increasingly remote workforces, have shifted the preferred method of delivering corporate training away from in-person based training to electronic learning, or “eLearning. For businesses, an eLearning-based approach to corporate training eliminates expensive travel, lodging, catering, and other costs. At the same time, eLearning offers a level of convenience as it allows user to conduct their training activities at any time and from any place. In addition, eLearning allows users to learn at their own pace, rather than the pace set by the instructor.
Learning Management Systems for eLearning-Based Corporate Training
The core technology that supports all types of eLearning programs, including corporate eLearning, is a learning management system, or “LMS”. An LMS provides the infrastructure to build, deliver, manage, and track your corporate training program.
As is the case with most technologies, there is a growing preference among companies of all sizes to access LMS features and capacity over the Internet via SaaS-based subscription offerings.
The benefits to businesses in utilizing SaaS-based LMS technology include:
Eliminates Up-Front Capital Investment
A company that chooses to “stand up” and LMS on their own servers will be required to make a substantial capital investment in the software, hardware, and supporting infrastructure. For many companies, this on-premises approach is cost-prohibitive. This cost is eliminated in working with a SaaS-based LMS provider.
Shifts Ongoing Management and Maintenance
In addition to a sizable up-front investment, a company that runs an LMS on their own servers must also have the in-house talent required for the ongoing management and maintenance of the platform. A SaaS-based approach shifts that responsibility to the SaaS LMS vendor.
Enables Easy Scaling
Most SaaS-based LMS providers offer a subscription service, allowing their corporate clients to access the specific features and capacity they need and scale up (or down) as their needs evolve over time.
A challenge with on-premises LMS deployments is in ensuring that you are always running the “latest and greatest” version to ensure you are deriving the greatest possible value from your investment. SaaS-based LMS vendors eliminate this concern by ensuring they are delivering the most recent version and features available.
LMS Portals: A White Label SaaS Business Opportunity
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 environment (portal) for each of your audiences. Each portal you launch includes a powerful course development engine, along with robust supporting tools for user onboarding, learning path creation, group management, live remote training, certificate awarding, analytics, and more. And each portal is white labeled, allowing you to add branding elements you choose.
In addition, we provide a library of 140+ ready-made, brandable and customizable courses covering most every aspect corporate training and employee development.