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Learning Management System
LMS ROI Calculator: Calculate the ROI of a Learning Management System
Are you considering implementing or upgrading a Learning Management System (LMS) for your business but wondering if it's worth the cost?
Do you need to know how to calculate the ROI of a Learning Management System? Don't worry, we've got you covered!
Our LMS ROI Calculator can help you make an informed decision by estimating the potential return on investment (ROI) of an LMS.
Our online LMS ROI calculator is user-friendly and takes various factors into account to provide you with an ROI estimate. We also explain how the calculator works, so you can understand the calculation process.
By the end of this article, you'll have all the information you need to confidently understand the potential ROI of an LMS and how an LMS can align with your business goals. So, let's dive in and discover the potential ROI of an LMS for your organisation!
How to calculate the ROI of a Learning Management System
Understanding the variables that effect LMS ROI
A range of internal factors, and specifics of the LMS can impact the return on investment. These include:
- The size of your workforce
- The cost of the LMS
- Your labour costs
- Your current training times and costs
Rest assured that you don't need to be an expert in calculating LMS ROI, as our LMS ROI calculator considers these factors as part of the calculation to provide you with an estimate of the potential ROI for your business.
Understanding LMS benefits to calculate ROI
The benefits of an LMS investment can be extensive, but they may not be immediately apparent. For example, these benefits can include:
- Time saved on training administration
- Costs saved on recruitment
- Improved speed to competency
- Costs and time saved through targeted training
These benefits can be challenging to both relate directly back to the LMS and to quantify, making it doubly difficult to calculate the ROI of an LMS investment.
When calculating potential LMS ROI the LMS ROI calculator on this page takes these benefits into account into the estimate.
LMS ROI Calculator
While other LMS solutions may not bring the same level of positive ROI as the LMS from Access Managed Learning (which you’ll see can be pretty impressive!), our LMS ROI calculator can help you get an idea of the potential financial benefits for your business that an LMS could bring.
Just gather the LMS ROI data points we've outlined here, plug them into the calculator, and see what the numbers say. And don't worry, we won't be storing any of your data.
While ROI predictions can give you an idea of what to expect, it's important to remember that they're just estimates. While they can be incredibly useful to demonstrate the potential return on investment, they're not set in stone.
So, ensure you look at ROI predictions as a guide to potential, and use this exercise as much for your own understanding of how to calculate the ROI of a learning management system.
If you’d rather discuss the potential ROI of an LMS for your business, you can request a call with our helpful team.
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