With the speed of technological innovation at an all-time high, it’s easy to feel like technology in modern times is too fast to keep up with. Learning Management Systems (LMS) is equipped with tools and resources that automates the tedious work like reporting, grading, and other administrative tasks. So, what is the factor that acts as a catalyst for businesses while selecting an LMS? LMS implementation cost can be considered as one of the top priorities for schools and businesses while choosing the correct learning management system (LMS).
Learning management system is widely used in organizations for administering and managing the training of employees. One of the most popular form of the Learning Management System on tap is Open Source or Free LMS in which the source code of the software is free to use and available openly for download. The idea of implementing an open-source Learning Management System for free or very low LMS cost makes it an attractive preference for your organizations. There are some cost involved with the implementation and customization of an open-source LMS that an organization should be aware of.
Speaking of LMS implementation costs for Cloud-based LMS, customers pay a subscription fee for the features they actually think are useful for their business. Cloud-based LMSs can be charged by Pay-Per-Use, Pay-Per-User, or else can simply charge a license fee. A common setup fee for a cloud-based LMS is $4,000-$7,000. While in self-hosted or on-premise LMS, you have to pay a one-time, up-front fee to purchase the license. It also involves the setup fees or installation charges to install an LMS. A self-hosted involves implementation cost or set up fees of up to $25,000.