Tips for finding a low cost LMS for your business 

Is there an affordable LMS solution? 

One common misconception about Learning Management Solutions is that they are only affordable for large businesses or businesses with large L&D budgets. While it’s true that an LMS with the most comprehensive and advanced offerings will have a higher price point, there are affordable options available that cater to the needs of small and medium-sized businesses. 

Some providers offer flexible LMS pricing models, making it possible for businesses to pay only for the features they need and the number of users they have. Providers can also offer a range of packages, with features, and corresponding price points suitable for different business sizes and budgets. 

Affordability, and value, should not be equated to only a low cost LMS. Remember, sometimes the initial quoted cost will not give you the full picture of total cost. Take a look at our guide ‘How much does a learning management system cost’ to fully explore various factors effecting the total cost. 

Making your purchasing decisions based solely on upfront costs may result in increased support costs or upscaling costs, or the need to replace the solution sooner than expected.  

Is an learning management system worth the investment if budgets are tight? 

By streamlining your training and learning management processes, an LMS can help save time and money in the long run. Traditional classroom training can be expensive and time-consuming, especially for businesses with remote or distributed workforces. 

Even with digital learning courses, managing training programs without an LMS can be an administrative nightmare – time consuming, resource draining and prone to error. 

An learning solution can also help businesses ensure compliance with industry standards and regulations, which you can read all about in the article ‘How to use an LMS for Compliance Training’. 

Features to Look for in an affordable LMS 

When looking for an affordable LMS consider the features that are essential for your business.  One way to keep costs down is to look for an provider, or package, with the essentials to fulfil your training and development goals, rather than a comprehensive package that includes features that you won't use.  

Keep costs down and targeted by selecting a low cost LMS with only those specific features you need. Also look for an option that can scale with your business, and where you can add features when your needs require them.  It can be costly to move in the future when a different provider is needed to meet your growing needs. 

The benefits of investing in an LMS for small and medium-sized businesses 

As you can see, there are a range of possible affordable LMS solutions to explore for small and medium-sized businesses. By selecting the right solution, businesses can streamline their training and learning management processes, improve compliance, and enhance the learning experience for employees.  

While the cost of implementation may seem intimidating, remember to consider and communicate the long-term benefits and potential cost savings for your business.  

Large business, but with a small budget? 

Larger businesses may still have small budgets for learning and development, or have no specific L&D budget at all due to various reasons such as: 

• a lack of emphasis on its importance 
• a focus on short-term goals 
• a perception that it is a cost rather than an investment  

With a relatively low, or non existent, L&D budget compared to the size of your business, it can be challenging to provide effective learning solutions. This is where an LMS can be a game-changer. 

In comparison to other L&D investments, an LMS is a key way to maximize L&D impact. It is a cost-effective solution that can bring significant benefits, such as: 

• improved training efficiency 
• better compliance 
• enhanced employee engagement 
• valuable data and insights 

Further considerations:

Affordability will vary from organisation to organisation, however the search for low-cost options can often result in selecting a solution which doesn’t deliver the greatest return on investment.

For example an organisation who select a learning solution which focusses on e-learning delivery and tracking will still achieve their results. However, the gains of selecting a solution with enhanced features such as Diagnostic Assessments, to ensure the correct level of training is delivered to their learners, will also benefit from significant efficiency gains which can by far outweigh the investment made.

This is a difficult balance to achieve which is why we suggest a consultative approach to understanding requirements and priorities before selecting solutions