LMS is dead! LMS is dead!
Said everyone pre-2020!
And then covid appears out of thin air and shouts-“Wait a moment.”
Since then-
- the global LMS market is expected to cross 370 billion dollars in five years from;
- 83% of the organizations use LMS for corporate training sessions;
- the global corporate LMS may increase at a compound annual growth rate of 23%;
- the LMS revenue is believed to generate revenue of $12.48 billion between 2020 to 2024
Learning management systems have different types… but we’ll talk about corporate LMS.
It’s essential you know the what’s and why’s of all the LMS solutions.
But more than that, it’s crucial you understand what’s suited for you.
If you belong to the corporates, you probably know how necessary corporate training has become.
Corporate uses LMS solutions to
- increase the higher income of every employee by 218%;
- enjoy 24% better profit margin.
And then, we can further divide corporate LMS in four basic ways…
- First, open-source LMSs;
- Second, commercial LMSs;
- Third, locally hosted LMSs;
- Fourth, cloud-based LMSs.
Now let’s understand what they’re:
Corporate LMS Type#1: Open-source LMSs
LMS vendors make open-source LMS for non-profit use.
You can say it’s a license-free solution.
Here’s one of the great benefits of open-source LMSs— you can have these LMSs adjusted as per your need— courtesy of open-source code.
But yes, it doesn’t come easy.
- You would need an IT technician unless you’re yourself one;
- Moreover, you may have to loosen your pockets on hosting servers and their maintenance.
For Example, Open EDx Platform
What makes it unique:
Being an instructor, you can
- create engaging content,
- manage learning sequences, and
- make detailed customization.
Corporate learners can participate depending on their learning pace.
Corporate LMS Type#2: Commercial LMSs
Unlike open-source, commercial LMS has license fees.
You can say it’s proprietary software.
The best part about commercial LMS is you don’t have to participate in any hassle.
LMS vendors will soak up all the pain.
They make and manage LMS for you… they’re the ones who’re responsible to share technical shoulders with you.
Should there be any need for sustainable operation, vendors also take care of it.
Your LMS vendor may deliver commercial LMSs either by:
- installing in your system;
- cloud-based solution.
For example, MindFlash
What makes it unique: You can
- convert your trainees into experts;
- onboard new customers and employees;
- assess learning outcomes;
- use the reporting tool to improve content engagement.
Corporate LMS Type#3: Locally hosted LMS
It’s a corporate LMS where you host personal software and manage within your organization. (in-house)
Though you have great control over its security and operation, it’s not always the first
choice of many businesses.
Reason being?
- soaring setup fees;
- particular license duration;
- complex operations;
- lack of technical expertise.
For example, Sakai
What makes it unique:
- responsive and mobile-friendly LMS;
- loved by commercial affiliates.
Corporate LMS Type#4: Cloud-based LMSs
Cloud-based LMS is bringing the most radical change in global corporate training.
Why?
Well, they give you the luxury to access it anywhere in the world.
And if that’s not all— you can use them on any device.
Your vendor hosts cloud-based LMS on the web. Why is it best for you?
You need not have
- massive IT resources;
- experienced IT expertise.
LMS vendors take up all the pain in their neck to deliver you and your employee a seamless training experience.
They will also:
- manage the LMS for you;
- protect your data;
- apply encryption protocols to comply with security protocols.
For example, LearnUpon
What makes it unique:
- measure your learning without compromise;
- single learning solution for the external and internal audience;
- create a customized learning experience.
The final argument…
The LMS vendors understand the seriousness of training experience, probably the reason why they’re investing time and money to build problem-solving systems.
All that remains is to choose the right learning management system for your business.
Also Read: Corporate eLearning: Everything You Should Know
