The Business Benefits of Learning Management Software

What is learning management software?

It may have come to your notice that the popularity of learning management systems seems to be in an upwards tread. While their learning related benefits are obvious, their business benefits are not as well known. Implementing a learning software is not just an expense necessitated by laws and regulations, it is a great way of increasing productivity, preventing problems, and lowering costs. There is a lot of confusion between learning management and e-learning software. While they have similar names, their functionality and purpose are completely different. E-learning course software is a teaching tool. It is much more common in schools and colleges; however some businesses also use them for training. E-learning systems are designed to help people learn. They teach people different subjects, allow teachers to easily take tests, and manage all educational records. They are used in some businesses for specialized trainings.

Learning management software, on the other hand, is designed to manage learning. An LMS is not expected to contain the course that is being taught or any examination module. Instead it allows managers to easily assess the current learning and certification situation of the organization. An LMS will also contain tools that help manage trainings, such as scheduling tools.

Efficient training

Learning software helps ensure that training is done efficiently. In most businesses training is left to senior employees, who may not do an adequate job because they have to ensure that they handle their existing responsibilities. Learning software for banks can help management easily schedule classes and take follow-ups after every assigned training period. Training that has been scheduled is more efficient because the trainer now has an official responsibility. They will not make time in their schedule dedicated to training, instead of having to train the new employees without disrupting their own work schedule.

Decrease in non-compliance

There is another advantage to learning software for small businesses – it allows managers to ensure that all necessary trainings have been provided, which has a significant effect on compliance violations. It also allows management to create a trail of all trainings that have been provided, something which is impossible with informal training. If an employee acts in a non-compliant manner, management can check and see whether they were ever taught the right way or not. This is important because it allows management to detect managerial issues which may be resulting in the new employees not being trained properly.

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Transitioning to a bigger business

Learning software for small businesses is also very helpful when the small business is growing larger. When the business is small the owners and the leaders can just train every employee themselves. They can ensure that everyone has the knowledge they need by personally interacting with everyone. This practice is unsustainable in a larger organization, because there are simply too many employees. If the owner/CEO tried to personally ensure everyone was trained properly, they would barely have any time to run the business. Learning management software allows CEOs to codify the knowledge they want every employee to have. Then they don’t have to worry about making sure everybody is trained – they can just see on the LMS who is and who isn’t.

Want to know how an LMS can help your business? The Predict360 Learning Management solution is an easy to use cloud-based LMS. The system has been designed for small to medium sized businesses and will begin providing great ROI quickly after implementation. Get in touch with our team and they will provide you a walkthrough of the features of the system and how it can help your organization.