A Learning Management System (LMS) is simply a software or application for administrating, creating, tracking and reporting electronic learning materials to students or employees. There are many companies offering LMS solutions to clients. Some of these companies target large multinationals making their systems very expensive for small firms. On the other hand, there are providers who target small and medium sized enterprises with their LMS solutions. One such platform is Frog Sense. There are various reasons why companies are setting aside money for these solutions but the underlying reason is profitability. This article explores the main reasons why companies should set aside funds for an LMS.
Saving on costs.
The main objective of any business is to increase the shareholders’ wealth. To achieve this objective, the company must have the best people, technology and other resources at minimum costs. As such, companies must be in a good position to utilise all the available funds reasonably. That is the main reason why companies take price quotations before investing in anything.
In training and development, companies might decide to use traditional methods of gathering people in a hotel, paying thousands of dollars in transport, accommodation, meals and conference facilities or use technology and provide courses well. The fact is that with an LMS, companies are able to save on costs and financial resources as all these overheads will be avoided. Courses will be delivered through the internet and staff can access them through computers or tablets and smartphones.
All these factors ensure that a lot of time and money is saved. These funds are to the shareholders’ advantage.
The entire process of gathering people in a hotel can be long and protracted. For instance, it takes a while to take quotes and select the most appropriate hotel. It also takes a lot of time to gather all staff members to attend the training. With an LMS, a lot of time is saved. People are today able to access the courses online within a very short period of time. The courses are accessible from any country around the world.
Using an LMS, courses are saved to the internet. Through cloud computing, users can easily access these courses at any time even after the training process has been completed. Traditionally, once the training is over, accessing the course materials has historically been a very difficult process. Therefore, it is very easy to direct new employees to access the courses online instead of hiring new employees to orient them.
Real time tracking and reporting
With an LMS, it is easy to track the employees and receive reports instantly. In fact, some LMS platforms have mechanisms which enable the users to be assessed instantly. This saves trainers a lot of time and energy because they don’t need to go through all the responses from employees individually each time. It is very easy to track employees who are not taking the courses.