TOPYX LMS Blog | Learning Management Insights and News

Why an LMS is a Safe Business Investment

Written by Jeffrey Roth | February 11, 2016

Investments tend to fall into two categories: safe and unsafe. There are certain things most business owners consider to be safe investments, including web space, insurance, marketing, and professional accounting. Although employers typically see the value in maintaining a strong online presence and being well marketed, some fail to see the importance of launching a social learning management system (LMS).

Organizational leaders want to properly steward business income by only investing in what they know will pay them back in the long run. Too many business owners wrongly believe that an LMS falls outside of the realm of safe investments. These individuals often assume that eLearning is too expensive, is a fad or is not the best option for facilitating corporate training. None of these assumptions are correct.

 

3 Reasons Why an LMS is a Safe Investment for Businesses

Social learning management systems are good, solid business investments – here are 3 reasons why:

  1. LMSs save companies money. BIG money. – eLearning saves companies’ money, and we’re not talking about small amounts. The right LMS has the power to lower a business’s bottom line quickly and significantly. If a company that has been paying an arm and a leg for in-person corporate training chooses to switch to online training, that company will become more financially healthy. How? By consuming less paper and requiring a smaller number of teachers/administrative assistants. Also, because eLearning takes place online, it renders a physical meeting space for training unnecessary. You do the math – about how much money would eLearning save your company?
  1. The eLearning market is financially stable – The rapidly growing eLearning market is in great financial shape. In his article eLearning Stats Show Industry Growth, Justin Ferriman stated, “Elearning use has shown gains in nearly every sector. Corporations are continuing to adopt eLearning programs, currently at a rate of 13% per year (a pace that is projected to stay consistent through 2017).” Business Wire says, “According to the latest market study released by Technavio, the market size of the global corporate E-learning market is predicted to reach close to USD 31 billion in revenue by the end of 2020.” Obviously, the financial future of the eLearning market is secure. Figures like these prove that online learning is no fad, but that it is here to stay.
  1. Learning management systems maximize training efforts – The few business owners who believe that in-person training is better than online training are often unaware of the benefits of online learning. eLearning is considered by some to be superior to in-person training. First and foremost, eLearning increases knowledge retention. According to eLearning Industry, “When an employee is able to learn in an interactive and engaging setting, then this leads to improved knowledge and skill set retention.” Employers who insist on classroom-style training should ask themselves what they want more: to train employees traditionally or effectively.

Not every LMS is a sound investment. Some are more trouble than they are worth. The only way to find a quality eLearning system is to do your research and request demos. TOPYX is an award-winning eLearning system that big-name companies Like Honeywell, 3M and Intel Security use. Not only is TOPYX a safe investment, it is also an economical one. This flat-rate LMS is loaded with features like mobile learning, social learning, eCommerce, language localization, Tin Can API, and much more.

Quality LMSs are secure business investments. They are also necessary to the survival of a company. The sooner employers launch an eLearning platform, the sooner their businesses will thrive.