Newsroom15 September 2023

Key Features of a Cost-Effective LMS for Small Businesses

Key features of a cost-effective LMS for small businesses - 2 males and 2 females in a meeting discussing cost-effective LMS

The Learning Management System has been fuelled by an increasing demand for online learning and training for organisations. In fact, the LMS Market size is expected to grow by 17% in the next 10 years, and was valued at USD 38.7 billion last year.

Training your people used to be a resource-heavy burden for many small businesses. As technology has evolved, it is now simpler than ever to cost-effectively upskill your people through eLearning. Beyond training, an affordable or cost effective LMS can be a key part of the human resources aspect of your business.

How LMS can streamline existing operations

LMS is a fully immersive engaging and interactive experience for the user. What makes a good and cost effective LMS, is one is interoperable and integrative, but also one that provides a personalised experience to the user.

LMS can be used for onboarding new staff, fostering employee training and for their ongoing professional development. As small businesses continue to face inflation and rising staff costs, potential budget constraints are driving the need for a cost-effective solution for upskilling your people and keeping your business running smoothly.

LMS providers like eWorks can provide different options for your LMS to create a cost-effective solution. At eWorks, we offer bespoke learning solutions for small businesses, but we also offer a ‘turnkey’ solution. This ‘turnkey’ or what we call ‘Shelfspoke’ which combines your existing eLearning offering which eWorks can build upon. This is just one example of keeping your LMS within budget. We covered this and more in our recent webinar Off-the-Shelf Vs Bespoke Learning Products.

Generally speaking, there are three main types of LMS: cloud-based, open-source and bespoke. Knowing which one to choose can be overwhelming, and it’s about choosing the right solution for your organisation's requirements.

“At the end of the day, it’s like buying a car. Every car is different, it depends on your needs and wants. There’s pros and cons to each LMS out in the market,” says Chris Laverdure, eWorks’ Lead LMS Customer Support.

Chris and eWorks Service Delivery Manager Mark Robertson explored the idea of what makes a good LMS in their webinar on Introducing LMS Technology.

5 key features to look for in an affordable LMS

There are a number of factors to consider as a small business before choosing an affordable LMS or inexpensive LMS. Beyond simply the price, it’s important to think about the functionality needed for your small business and its user-friendliness. Here are 5 additional features to look out for in LMS pricing.

1. Scalability How easy would it be to replicate and scale your LMS needs? Can your LMS provider help you to ensure you can easily scale out training, onboarding and professional development needs as your business grows?

Does your LMS provider offer a mobile learning application? How much flexibility is in the system to suit the way your employees choose to learn? Are you intending on selling your courses? Does your LMS offer eCommerce functionality? These questions are critical to ask before you determine your LMS provider.

2. Integration and Migration considerations Your LMS should integrate with apps and software that are essential to your organisation. Find out what integrations are offered by your LMS. Are there pre-built options that are critical for your everyday BAU?

Are you looking to enhance the functionality and capabilities of your LMS to a new CRM system? Or are you looking to migrate from an old LMS to a new one? Whichever option, look for a seamless solution that limits downtime or the need for manual admin time, saving valuable resources.

3. Open-Source LMS for small businesses A good LMS will have analytics data behind it to show the engagement of your users, what they have completed and how long they have spent within the LMS. An open-source LMS such as Moodle can be customised with the right design and development support. eWorks uses Moodle to create tailored, bespoke solutions for our clients.

“Having an open source LMS, whether it’s Moodle or the other varieties out there, does give you that greater level of customisation either if you are ‘techy’ or are able to get people to assist and write code to get the exact solution you need,” explains Chris Laverdure, Lead LMS Customer Support at eWorks.

Our team put together a webinar on LMS technology you can watch for more information from Chris and Service Delivery Manager Mark Robertson on open source LMS technology.

4. Pricing An LMS for small businesses should be priced to alleviate administration and training costs and should be a value-add to your organisation. The LMS pricing should not be prohibitive.

The eWorks Professional Service Packs (PSP) is an offering from eWorks allowing businesses to engage with the LMS team for a range of services offered. The PSP provides options for discounted pre-paid hours to use over a 12 month period where packages are designed to suit your specific requirements. This is one way we help make a cost effective LMS to achieve your business objectives.

5. Ongoing support A good LMS (and LMS provider) should be with you at every step of the way. eWorks bring more than 25 years of experience to learning design and LMS. We promise to be your trusted partner throughout your LMS journey.

As you consider each factor, you can look for an LMS that aligns with your budget while still delivering a high-quality and effective eLearning experience for your learners. A cost-effective LMS solution through eWorks can help empower learning and development initiatives and continue to strengthen your organisation.

Want to learn more about how we can create the right eLearning course development for your organisation? Get in touch today!

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