The global LMS market is about $16.19 billion today. But, according to Fortune Business Insights, in 7 years this number will grow up to $40.95 billion. All of it at a CAGR of 14.2%. With such significant growth, investing in the education industry should be a business priority.
Large enterprises understand the importance of employee education more than anyone else. Mainly, because the market is developing and it needs constant knowledge updates. It is necessary to ease up training of different types of users, groups, etc. The more businesses can enhance their training and employee preparation the faster they will advance and grow. Not to mention the increase in revenue and ROI. What might help businesses do it faster and more efficiently? – Right! A custom enterprise learning management platform.
What is an enterprise learning management system? Inoxoft, as a custom LMS development company, is more than happy to share some valuable insights with you!
Learning Management Systems Explained
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There are lots of definitions of the enterprise LMS. But, the best one is the following:
It is a full-featured learning management system that includes features and capabilities of both a Web portal and a content management system.
ELMS app architecture depends on the features you’d like to include and the complexity of the product needed. A profound enterprise learning management solution would look like this:
Why do large businesses need an enterprise learning management system (ELMS)? Mainly, to deliver, track, report on and manage training, and learner activity. Also, cover the mundane task of talent onboarding. It may include both single employee training and learning programs within a company. The latter is provided for people inside and outside the organization. With the help of an enterprise learning management software it is possible to automate your business processes, and adjust the system to employee training needs – i.e. personalize it. Also, it will shorten the learning time, enhance employee productivity and allow you to save up costs.
6 Must-Have Learning Management Systems Features
The importance of enterprise learning management system features depends on the business focus, preferences, and employee needs. Here are the 6 ELMS features to consider. They might apply to one corporation’s requirements, while a little less to the other’s. For example,
1. Reports and Analytics
To receive the maximum benefit of a corporate LMS, it is of great importance to track your employees’ progress. Also, the learning initiatives that you offer have to be tracked to understand whether they need adjustments or not. Ask yourself if your employees are
- engaged with the learning content?
- given all the learning information that is required?
You can even set up a timeframe and enter your inbox to receive the valuable analytics there. It will be convenient and insightful!
2. Responsive Design
This feature refers to the ability of the LMS layout to adjust to the preferred device. For instance, some employees enjoy passing training via smartphones/tablets. And, the platform itself should be shrunk but still with an aesthetic and pleasant UI. Don’t forget that the UX has to be as logical and intuitive as the web version’s one. Finally, there’s one more thing to consider here. Your training course material should be also accessible via an offline mode.
3. Intuitive User Interface
Too many features have never made the learning app the top functionality preference among employees. Cramped app screens are mostly an aggravating factor. So, it is advisable to offer something simple and intuitive. Ask your employees what makes
- it easy to access training?
- them to experience extra challenges?
The more users can figure out how to navigate the platform on their own the better. Complex steps will only make employees postpone their training and give bad feedback.
4. Support Services
LMS support is one of the basic features that should be present in this system per se. Employees might need it in case there will be additional questions. Or users might engage in peer discussions, online tutorials, guidelines, and sheets with tips. But, always consult with your staff first about this option and the level of support they want to get while passing corporate training.
Learning online may have its drawbacks. To identify them, it is advisable to be able to spot any flaws and difficulties. And, there are lots of third-party tools to integrate to be able to assess employee success. Or, consider some built-in custom tools. Anything is possible. Assessment always matters. It is the key to monitoring progress.
6. Gamification Features
Maybe, one of the most needed features there are. Why? Today, employees, who are loaded with work, might find it difficult to concentrate on learning. But, with such a smart solution as a platform that will teach you in a form of a game – learning will become easier. And more fun. Gamification has already proven to be the leading feature of any LMS.
Why should organizations consider ELMS? What are the benefits?
Having the opportunity to provide additional training to your employees is a big plus for organizations. Employees, who have such a benefit will likely consider working for your enterprise rather than the one, which will only put professional training as a requirement.
By implementing an enterprise learning management system for e-learning, you, as a business, should know that you get such benefits as
Tracking employee progress in real-time
An enterprise learning management platform can track the progress of any employee as his/her data will be stored within the system. So, if you have any concerns, you can always request this type of analytics about anyone under supervision. It sounds quite reasonable if you have the whole focus group to manage and need to teach them how to work the new way. Or with the new software. Or anything specific to that.
Reducing employee churn rate
What is an employee churn rate? The most common definition sounds like this:
It is the overall turnover in an organization’s staff as existing employees leave and new ones are hired.
So, based on the definition, with the possibility to enhance employee knowledge more of your workers will be satisfied with your organization, and stay longer. According to the statistics, 3 out of 4 employees leave their workplace voluntarily. This means they look for better working conditions. The other statistical data includes the US-based employee turnover reasons:
Just think of it. Your enterprise has more than 1000 workers. And you need to train them all at once. Perhaps, you have updated your CMS or CRM. And all these 1000 people have to get used to a new system. How is it possible to train them all at once? Especially, without compromising on training quality? Besides, not every worker can have full access to the software. User roles, you know. But, it might be easy. And quite flexible. With the help of a course in an ELMS. Create it, upload it, and set up the training timeframes. Voila! Your employees are getting all the material and you observe their training progress.
Your ELMS is not just a platform with the existing courses. You can always add new ones per employee request or your organization’s basic learning needs. It depends on the capacity of the system.
Updating and improving employee skills/work quality
The biggest benefit of the enterprise learning management system is that your employees will get a chance to learn, enhance their professional skills, and apply them to work as soon as possible. Your corporate academy will grow and develop together with your staff.
The cost of custom ELMS development will return to you twofold. But you can always get to know what you might need to pay for an enterprise online learning management system using our Inoxoft cost calculator. Then, you might get a look and predict potential revenue.
Custom vs Off-the-shelf Enterprise Learning Management System for e-learning
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Truly speaking, custom software has always received more votes than the one existing on the market. And the reasons are major! For example, the off-the-shelf software is a ready-made product you buy for your enterprise. It is
- Accessible
- Cheap
- Easy to install
- With references
But, it will never meet your organization’s need for 100%. It would be great if at least 50% of the platform could cover your goals. Also, it won’t have 24/7 support and personalization. You will have to think about how you can adjust it to your specific processes.
On the contrary, custom software will be:
- Tailor-made (based on your requirements and enterprise needs)
- Owned by you
- Easy to modify and adjust to your company’s needs at 100%
- With a possibility to scale and update
- With 24/7 support and maintenance
To read more about the difference between these types of solutions, click here.
Things to Consider Before Creating an Enterprise LMS
Just before creating an LMS for your enterprise, think about the following questions:
After these questions will get their answers, think about the type of enterprise learning management software you need to deploy. There are the following types on the market:
Open-source LMS
An LMS that is initially free. Also, you might have an access to its codebase as it is open-source. But, the functionality of this ELMS is limited. Additional features are to be paid for. For instance, hosting, support, back-ups, etc. And, the most important thing is that the LMS is free-licensed – with no owner. So, no one will be responsible for its crashes, bugs, and updates.
Proprietary LMS
It is a ready-made product, with updates, constant performance monitoring, 24/7 support, and many more. It is extra reliable and comes with a huge price to pay. But, it is worth it.
Cloud-based LMS
A cloud solution is a great option if you need to scale in the process. Here, you will pay an average price, which will depend on a cloud plan and access to the ELMS from any device. Your virtual classroom may travel with you in your pocket. Besides, cloud solutions are our future.
Consider Inoxoft Your Trusted Partner in Education Software Development
Inoxoft is an enterprise learning management system development provider. We have been accumulating our experience in the education industry for more than 7 years already. And, our skilled team understands all the latest trends, audience preferences, and the usual goals any learner wants to meet.
If you need a learning content management system software or consider an educational mobile app development, get in touch with Inoxoft. Why us? Because we:
- Help create equality in education
- Help instructors with course management and organization
- Provide opportunities to access educational courses globally
- Streamline effective teaching with the help of automatization
- Attract potential learners via user-friendly UI/UX
- Track educational trends like gamification, remote learning, personalization
- Implement all the latest innovations in the industry
Become a course guru with the top software on the market. Ask Inoxoft to give you a hand with that. Contact our experts to receive a consultation on your future educational platform. Don’t hesitate, it takes courage to become a great market leader. And, our team is here to prove your idea is worth building!
Final Thoughts
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An extended enterprise learning management system is a useful tool for any organization with a large number of employees. So, you need to approach ELMS development carefully. But, most importantly, do you need one? What features will cover your company’s basic needs? If you are lucky to answer these questions, you can start building an LMS. Be focused on your employees’ goals to meet. And become a successful employer with an ELMS that will automate and advance your business processes as well as employee knowledge.
