LMS Pricing Simplified: What is the Total Cost of Ownership?
Investing in an LMS platform can transform your company’s operations and streamline training delivery. The total cost of ownership for an LMS platform depends on each company’s needs, the level of investment they make in training, and the challenges that the platform helps them overcome. If you’re looking to implement an LMS platform at your organization but want to understand pricing, you’ve come to the right place.
The ExpertusONE LMS platform can be purchased under a pay-per-user model with additional considerations for usage—and we’re happy to discuss those with you—but the total cost of ownership is not standard across the board. Each company will be different, and it’s crucial to weigh the costs of using an LMS alongside the costs of not using an LMS.
A learning management system is a single platform with a variety of complex, interactive features that add to the digital experience. Within a single LMS platform, companies can disperse training content, manage learning and development strategies, and run reports to show essential data and information about training effectiveness. An LMS platform is unique because it can manage every type of learner—from employees to sales teams and partners to customers—from a single system. These are the factors that contribute to the cost of using an LMS or the cost of choosing another type of training technology.
At ExpertusONE, we’ll always recommend an LMS platform as the best training technology investment. Sure, we may be biased because we offer an LMS, but we believe that—no matter your company’s training needs—an LMS system is the best choice to manage, disperse, and optimize any corporate training strategy. With this statement in mind, let us walk you through a breakdown of LMS pricing so that you can understand the total cost of ownership and make an informed financial decision for your organization.
What is the total cost of ownership for an LMS platform?
The total cost of ownership for any software or technology system includes not just the price of the system but the cost associated with implementation, the cost of use, and even the cost of not using the system and choosing another platform instead. A digital LMS platform makes corporate learning and development strategies more effective and enables companies to provide their teams with essential learning content. Unfortunately, many organizations have relied on homegrown, large-scale training platforms that do not offer the digital experiences that modern learners expect. Homegrown training platforms often combine multiple tools for different training audiences. Very little data can be pulled from these tools, and the training experience rarely meets the needs of modern learners.
While an LMS platform is a significant financial investment, the cost of not using an LMS can be a greater risk. Without next-generation training technology to disperse engaging, interactive training content, companies will not be able to achieve the learning outcomes that they desire. Training is essential in the modern workforce, and digital experiences can make or break the effectiveness of a training strategy. Digital LMS software is the best financial investment a company can make in its training strategy because it transforms how learners engage with content, streamlines learning overall, and boosts knowledge retention.
Which features are included in an LMS platform?
An LMS platform is a digital training software that helps companies disperse essential training information to a network of learners. What makes an LMS platform different from other training technologies is the functionality and flexibility of the system. Users can do everything from creating course content within the system to managing data and running compliance reports. A standard LMS platform will include a laundry list of training features that enable learning.
The ExpertusONE LMS platform includes various features to help companies create engaging learning experiences for their teams.
- Digital Content Player enables learners to watch videos, listen to audio recordings, download files, and view training playlists from a single platform.
- Extensible apps like the ExpertusONE app in the Salesforce, Microsoft Teams, and Slack app stores provide flexible training options.
- Interaction Studio enables ExpertusONE’s users to take quizzes and polls and participate in learning while completing courses.
ExpertusONE has many other features, like a mobile LMS app, integrated meeting technology, LMS reporting tools, LMS gamification features, eCommerce tools, and APIs that come together to streamline training and delivery. The ExpertusONE platform was designed to cater to every business and provide learning technology that is flexible, scalable, and future-proof.
How are LMS platforms priced?
LMS platforms are priced in various ways, and many providers tailor pricing to each company’s unique needs. Many providers price out an LMS for each user or active user. Other companies may use a standard licensing agreement for their enterprise LMS platforms. Most providers will charge an administrative fee to cover installation costs at the beginning of setup. In addition to implementation costs, some companies will charge for customer service access in various tiers.
In general, there are a few set standard pricing models in the LMS space:
- Licensing fee: Most LMS providers charge a licensing fee annually. This gives the user rights to the software and is on a rolling subscription basis. Some vendors include all features within the licensing fee. Others will offer a base set of features and require any others to be an additional price. Before licensing an LMS platform, read the fine print to determine which features and elements are included in the licensing.
- Pay per user: Some LMS users will choose a pay-per-user model and pay a fixed rate for every user that accesses the LMS system. This means that the LMS provider will offer a standard rate per user multiplied by the total number of users and then factored into the monthly or annual rate.
- Pay per active user: While this is similar to the model above, the difference in an active user pricing model is that the company only pays for the users who logged into the course within a given month. So, each monthly bill will factor in the number of users actually accessing the platform versus the total number of users over time.
How much does the ExpertusONE LMS platform cost?
At ExpertusONE, we use a pay-per-user model to price our LMS platform. Determining pricing for your organization is more complex than simply showcasing a monthly rate because members may have different degrees of usage. We work with all of our clients to determine the correct payment structure depending on user needs.
No matter your learning needs, our digital LMS system can provide you and your team with the tools to deliver engaging, interactive, effective training from any location and at any time. As you continue in your journey of finding the best LMS platform for your organization, determine which LMS features are most important to you and devise a plan for using your LMS system. These elements will help you choose the best pricing model for your organization.
What makes an LMS affordable?
Several factors can contribute to the affordability of a learning management system (LMS):
Price: The price of an LMS can vary significantly, with some systems being free or low-cost and others costing several thousand dollars.
Licensing: Some LMSs are licensed on a per-user basis, while others are based on the number of courses or course enrollees.
Features: Some LMSs offer a wide range of features, while others are more basic and streamlined.
Integration: Some LMSs can integrate with other systems, such as HR systems or CRMs, which can help reduce the overall cost of implementation.
Customization: Some LMSs allow for customization, which can add to the overall cost.
Support: Some LMSs offer different levels of support, which can affect the price.
In general, an LMS is considered affordable if it meets the needs of an organization without breaking the budget. It’s important to carefully consider the features and capabilities that are most important to an organization and to evaluate different LMSs based on those needs.
Affordability for Corporate
Estimating the return from a Learning Management System within a corporate setting boils down to establishing explicit objectives from the start. As an example, you can measure how much sales expand after creating e-learning courses to make your sales force more capable. Additionally, you can gauge how much accidents and incidents drop when providing regular safety training to your team. After comparing results versus expenses, you’ll be aware of how economical your LMS implementation is.
Another necessary factor for businesses is prompt, organized implementation plans. Unlike a school, it isn’t viable to have the entire staff participating in the course simultaneously since they need to concentrate on their jobs.
Does your business require specific training? Would it be product instruction, comprehensive training, technical awareness, or something else? All of these should be placed into the process of work. For instance, some companies arrange by surnames, areas, or areas. Having an effective rollout strategy is important, so it’s not disruptive to your workforce.
Looking for more information about ExpertusONE’s LMS pricing? Contact us today for a demo, and we’ll help you find the right pricing solution for your company.
