Limited budgets = limited features: this is a common misconception among many organizations, looking for the perfect eLearning Management System. But this preconceived notion is not true. With the right research, you can pick the ideal eLMS and that too within a rapid turnaround time. An inefficient LMS can lead to disastrous results for your company, especially if it is a start-up. It can obstruct the long-term success of your corporation. However, there are several options to select the right corporate training platform on a tight budget. How? Our tips will help you in getting started with choosing a full-fledged, feature-rich Learning Management System that does not break your bank.
Repurpose Your Existing Assets
If you go for an LMS that has a built-in authoring tool, you can use your already existing assets — to cut down on costs. You may have a lot of training materials, which is obsolete in modern times. However, an all-in-one LMS can be used to edit or revamp the current training content. You can give new life to it by embedding it with new media, assessments, and gamified elements. Certain platforms like PlayAblo even allow you to migrate your existing legacy content into manageable micro-modules. When you choose an LMS with built-in authoring tools, you save money that would otherwise be spent in additional technology.
Use the Option of Free Trials
Free trials give you a glimpse of the targeted LMS — and paves your way toward total ownership. When you try the E Learning Management System before actually implementing it, you get a taste of its existing features. You can then decide if the software is really worth your investment. If you invest in a complex LMS without even testing it first and later discover that its features are not aligned to your objectives — you have stretched your budget for no reason!
Set Your Budget in the Beginning
You should set your budget before deciding on an LMS — and not the other way round. Else, you might end up overspending. Several companies make this mistake of settling on their dream LMS software and cutting costs on the expense sheet — thereby, negatively affecting other vital business operations. Again, when you create your budget, you should also be wary of hidden costs. Be realistic about your total investment. If required, start with a basic package and scale it up as you grow.
Look for Customization
Designing eLearning content from scratch is costly. If you opt for an LMS solution with pre-existing templates, you can reduce resources and cost in developing new materials. You can simply update your online training courses and embed personalized branding. Again, an LMS with a customizable client portal enables your customers to have their own settings, users, and branding.
Consider Support Services
You might think that considering support services should be the last item on your criteria list –while choosing an LMS on a tight budget. However, it comes with long-term benefits and savings. With a full-fledged after support service, you do not have to hire dedicated and additional support staff — like an IT team. Go for an LMS provider who offers 24×7 phone support or live chat — enabling your team to troubleshoot errors. You can then use your IT team to focus on other matters apart from Learning Management System -related issues.
We hope that the above tips will prove beneficial for investing in an LMS that fits within your budget and scales with your requirements.
