What is the business case for an extended enterprise learning management system (LMS)?
Investing in the right LMS that meets your learning needs and deliver an online learning program in a scalable way. Here are elements to consider while preparing the business case for an extended enterprise learning management system.
Define your needs and wants
Start an LMS business case with your business goals and figure out how an LMS can help meet those goals and align both of them with LMS features. This mapping out process will make LMS purchasing decisions much clearer. What are your goals?
- To meet unique learning needs
- Effective compliance training
- Onboarding employees quickly
- More value at a lower cost
Define how LMS can meet your goals through its advanced features and tools. Show how new LMS software can speed up learning delivery and make it more accessible to all employees. Along with this, calculate ROI and other performance metrics of LMS.
This is probably the most crucial part of the LMS business case. How much is an LMS going to cost? It would help if you calculated the cost involved like initial cost, maintenance cost, staff cost, and more. Multiple LMS vendors offer different pricing model based on usage volume, numbers of users or active users, licensing, free LMS, and more. The decision on LMS costing must include your organization’s cost drivers and revenue goals.
Discuss competitors’ strategies
Try to figure out how your competitors are using and benefitting from learning platforms. You can add some data on the same and present it to convince the decision-maker to purchase an LMS for your organization. Research on competition learning strategies and give your clear opinion through insights on a similar company from a related industry.
Shortlist the best LMS options
Prepare the list of best LMS platforms available in the market and find out their pros and cons. Create a shortlist of best-suited options for your organization that can meet all your needs. You have to present some concrete data on cost-benefits, break-even points, implementation process, the risk involved, and more such information to make the right decision. You can also go for a free trial to verify that the software meets the criteria and recommend it to the selection committee based on your experience.
Paradiso solution is an award-winning LMS provider that offers affordable and user-friendly learning management systems. We offer the best LMS user experience and advanced learning solutions to meet the distinctive learning needs.