5 Reasons to implement an Effective Learning Management System

With an increase in cross-functional working environments and a rise in joint ventures between various organizations, we have seen the count of rules and regulations soar. Regulatory bodies are taking no prisoners when it comes to laying down the law in their pursuit of streamlining processes. Due to an increase in the number of compliances, the corporate world is stretched to the limits and finding it very hard to meet the requirements of regulatory bodies. Manual intelligence has faced many hurdles in its path towards devising a Learning Management System that can solve the problem of imparting knowledge about compliances to the workers. Software development companies have exerted themselves in finding a solution to the issue. After a lot of research, Artificial Intelligence (AI) has come across as the most effective resolution to the problem.

The Great Challenge

In the never-ending ocean of regulations and laws, it is important that every relevant piece of information is communicated to every level in the organization because the consequences of non-compliance pose huge business risks. Violation of rules like FCPA, Anti-Corruption Law, and Anti-Money Laundering law, just to name a few, can be detrimental to the health of an organization.

The cost of not following rules and regulations can be a hefty fine or a lawsuit. Either way your organization will suffer and the employees will be crucified for their mistakes. In order to avoid such a situation, it is imperative that you make sure that your organization stays compliant at all times. Instead of bending over backwards in the quest to stay compliant, it is better to find a solution to the whole problem.

Learn Rules and Regulations and Stay Compliant

One cannot stop regulatory bodies from creating new rules. The only way you can ensure that your organization remains compliant is by educating your employees about the policies. As the sheer number of compliances laid out by the regulatory bodies is massive, it is almost impossible to educate all the employees on all aspects. A better way is to be selective and guide them only through the policies which are relative to their domain. Making use of a Learning Management System is an effective way to streamline corrective and preventive actions and map employee training to each regulation and audit gap.

Key Features a Learning Management System should have

An ideal Enterprise Learning Management System should have the following capabilities in order to be effective in an organization:

1. It should be able to create training plans at the corporate, site, and group level.
2. It should have comprehensive reporting capabilities.
3. It should offer, track, and manage online, classroom and webinar-based training.

A system that comprises of all the aforementioned features can be a great boon to any organization. An AI powered Learning Management System with all these attributes will be able to impart correct and timely information to all the employees in the organization. The training will be perfectly mapped and each employee will receive only relevant information. The AI will make decisions based on the requirements. It will not only track but also manage online, classroom and webinar-based training. With inbuilt reporting capabilities, AI will able to report the progress of the course to the stakeholders and let them know about the status of every employee.

Reasons for Implementing Learning Management System

After surmising the above sections we have five 5 clear reasons for implemen

1. It maps the employee training to each regulation and audit gap.
2. It ensures every employee has appropriate knowledge about the compliances relevant to his/her domain.
3. It prevents companies from fines or lawsuits by making sure that they stay compliant at all times.
4. It comes with comprehensive reporting capabilities and provides updates on the status of employee in regards to his/her compliance training.
5. It formulates training plans at the corporate, site, and group level, and makes the task of managers easier.

Solving the Compliance Problem with Predict 360’s System

Fundamental to every risk and compliance initiative is an integrated, risk-based training program that can communicate an organization’s policies, standards, and expectations and at the same time equip employees with a high-level understanding to ensure efficient practices. Predict360’s Learning Management Software is powered by Artificial Intelligence (AI) and comes armed with a unique regulatory compliance-centric Enterprise Learning Management System. It has all key features which are mentioned in the previous sections and more.

The Learning Management System by Predict360 is ideal for companies whose operations require compliance with regulations. It is also able to monitor the effectiveness of training to reduce the risk of noncompliance and hence, regarded as one of the best Learning Management System in the industry.

For more information about Learning Management System and how it can be further enhanced as part of an integrated risk and compliance management suite, visit https://www.360factors.com/.

About the company

360factors, Inc. (Austin, TX) helps companies improve business performance by reducing risk and ensuring compliance. Predict360, its flagship software product, vertically integrates regulations and requirements, policies and procedures management, risks and controls, audit management and inspections, and on-line training and qualifications, in a single cloud-based platform based on artificial intelligence.

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