What Is Learning Management System?
Learning Management System or training management software is a relatively new thing. Hey, you probably didn’t even know they existed until now. But, regardless of how the name sounds, every current training operation will already have some sort of learning management system in place, yours included. Your current system may not have a Flash interface – it may just be a collection of spreadsheets that you use to manage your training tasks – but it still works.
The question is – is your current system just helping you scrape by, or is it giving you the competitive advantage you need to excel in your industry?
Definition: Simply put, a training learning management software is a streamlined version of what you already do on a daily basis. It is designed to streamline your training delivery and optimize the business aspects of your training business.
How Does a Learning Management System Work?
Imagine being able to manage your entire training business from one central hub. In fact, it is completely achievable – rather than linking together a patchwork system of programs to manage various tasks, a TMS provides an integrated solution. Gone are the days of manually inputting the same data across multiple platforms – over and over again; A training management software allows you to schedule courses and presenters, track payments and business growth, and provide contextual marketing all under one roof. Having a software as top dog means that your data remains fresh and responsive to changes made in real time, as well as automating manual processes like the ones listed above is seamless and stress free as all aspects are already are themselves connected and in sync with each other.
Time left on administration can be spent on changing your training business. With a TMS at the core of your operations, you can gain valuable insights that give you an edge over your competitors.
What Features Are Included in a learning Management System?
Broad definitions aside, let’s get an idea of what a pure, purpose-built training administration system for training providers might look like:
Organize course logistics and resources – for example, schedule courses, presenters and rooms
Automate manual tasks – for example, send registration confirmations, reminder emails and surveys
Manage finances – for example, capture orders, accept online payments and issue invoices
CRM & Records Management – Store each customer’s upcoming and past training, financial and sales interactions
Reports and Business Intelligence – Run reports to provide information for data-driven business decision making
Integration to Complete the Puzzle:
A good learning Management System tool will also allow you to integrate with a suite of specialist software systems. Think of a training management system as a strong foundation on which you can build. This means that it is not necessarily the only tool in the kit, although it is important. You can use other tools in your business, but it’s a training management software that makes sure all these parts talk to each other.
Building blocks to add to your tech stack:
Accounting Systems – Stay on top of transactions and wind through your bookkeeping duties with an accounting system that is integrated with your training management solution
Advanced CRM – Synchronize and track your customer interactions so you never miss a lead. However, most training management software comes with a basic CRM. If you are a large business, you may need a focused CRM with advanced capabilities. We will refer to this in Section 1C, Point 3. I cover more
Learning Management System (LMS) – Host engaging online course content that can be accessed anytime, anywhere
Webinar Delivery – Extend your reach with distance learning delivered live online
Marketing Tools – Create newsletters and campaigns that get registrations delivered to your doorstep
Online Survey Tool – Get answers faster and use this customer feedback to improve future user experience.
A learning Management System is not:
Just a Niche Customer Relationship Management System (CRM) A learning Management System may have a built-in CRM, but that’s just the tip of the iceberg. A CRM manages customer relationships, while a TMS will assist you throughout your training journey.
Purely an Administrative tool
A learning Management System will help ease the day-to-day administration tasks, but let’s think about the bigger picture here. To run a successful training business you also need to increase registration and create a competitive advantage. A good TMS will help you do this.
A solution that requires no effort
Purchasing a learning Management System tool will not automatically transform your business; You can’t buy it, drop it, and expect it to all work. What you put in is what you get out, so to see real value in your investment you must upskill employees and use it with a good business strategy.
Who Uses the learning Management System?
We have briefly outlined the front-of-house features of a learning Management System, however, it is first and foremost a staff-facing platform. Therefore, the people who get up close and personal with it on a daily basis are typically the training managers, administrators, and employees involved in selling Instructor-Led Training (ILT).
A TMS can cater to training organizations of all sizes, however, each training organization has its own special needs. You may find that a TMS may favor one type of audience slightly over another; It is up to you to identify your needs so that you know which boxes to tick in-house training – training people who are not paid to attend a course, for example training their employees
external, vocational training – training people who are paid to attend courses
The main practical difference between these two listeners is that external, vocational training requires additional facilities that internal training operations may not require, such as: