9 Extended Enterprise LMS Benefits For Startups

9 Extended Enterprise LMS Benefits For Startups
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Summary: Do you know that your start-up company can draw a lot of benefits from an extended enterprise LMS? In this article, I’ll discuss why external partner training isn’t just for Fortune 500 companies with substantial budgets.

Significant Extended Enterprise LMS Benefits For Your Startup Company

It is a common misconception that extended enterprise LMSs are meant for large organizations. Do you know that start-up companies can also reap maximum benefits from using extended enterprise LMSs too? An extended enterprise LMS enables you to automate and structure your internal online training programs, as well as provide external sales teams with the online training resources they require. Here are the 9 most significant extended enterprise LMS benefits for your startup company.

eBook Release: External Training 101: Everything You Need To Know BEFORE Buying Your Next Extended Enterprise LMS
eBook Release
External Training 101: Everything You Need To Know BEFORE Buying Your Next Extended Enterprise LMS
Learn how external partner training can improve your profit margins and discover how to find the perfect extended enterprise LMS platform and create a more accurate budget.

1. Homogeneous Online Training For All Stakeholders

Once your company expands outside your internal employees, it's difficult to keep the pool of knowledge about your operations standardized. To achieve homogeneous knowledge for smooth operation, you need to train all stakeholders. Among the extended enterprise LMS benefits is that you are able to keep everyone in the loop, internal and external. Whenever new information or new products come up, it is easy to offer consistent information via your extended enterprise LMS.

2. Tracking And Reporting Capabilities

Online training is only effective if you can measure its success. One of the major extended enterprise LMS benefits is the reporting ability which enables you to track the performance of all stakeholders. You can evaluate how your customers, franchisees or vendors are doing in online training. If you want to see how a customer is fairing, you can view their stats and reports generated on the LMS platform. The results you get allow you to measure the performance and identify online training areas that need improvement.

3. Centralized Storage Of Data And Learning Material

An extended enterprise LMS stores your data and information in one centralized location. Instead of having your online training courses stored on multiple computers, you can have easy retrieval whenever training is required. Centralized storage reduces the risk of data loss, since all your information is stored on one remote server. Additionally, most extended enterprise LMS platforms have advanced data security measures in place. Thus, you don’t have to worry about sensitive user data falling into the wrong hands or trade secrets being exposed to your industry competitors.

4. Enhanced Customer Service

Extended enterprise LMS enables you to offer improved training to all employees. Improved online training translates to better customer service, since employees have the proper knowledge to represent your brand. They give you the ability to train your employees and improve customer service. Better quality customer service boosts customer loyalty and increases your profits.

5. Improved Consumer Product Knowledge

An extended enterprise LMS allows you to train your consumers on your products. Training consumers increases product knowledge and the trust they have in your brand. Increased product knowledge also increases consumer loyalty and confidence in your products. Lastly, you gain word-of-mouth advertising thanks to the fact that current consumers are able to train potential customers about your product. For example, they promote the benefits of your latest product so that their friends and family try it for themselves. In this way, they become brand advocates who provide repeat business.

6. Customized Training For Stakeholder Groups

With extended enterprise LMS, every stakeholder needs to receive standardized information. However, information should be packaged in different ways to suit the needs of every group. Meaning, the way you present your product to vendors is not the same as the way you should present it to your new customers, even though they require similar information. Extended enterprise LMS allows you to customize information and tailor it to the needs of each target group. This way, you are able to achieve a more significant ROI, because everyone consumes online training resources according to their personal needs.

7. Keeping Up With Current Product Updates And Policies

Every time you make new policies or update your products, the extended enterprise LMS permits you to disseminate that information conveniently. This way, employees and other stakeholders can keep up with the changes more rapidly. Gaining new and exciting information about product updates puts employees in a better position to pitch your product, hence your sales increase.

8. Consistency Across Individual Brands And Distribution Channels

Although individual brands deal with different products, it is essential that they operate from the same baseline. Despite being independent, they are governed by the same company policies and regulations. Online training through an extended enterprise LMS can help achieve the desired consistency across brands. Likewise, distribution channels need to work from a consistent point of knowledge to smoothen company operations. Extended enterprise LMSs enable you to achieve uniformity, thereby reducing the amount of communication required daily for proper functionality.

9. Decreased Training Costs

I would be remiss not to mention the cost factor. Start-ups need to stretch every cent to improve ROI and cover the initial costs, such as licenses, infrastructure, and hiring. An extended enterprise LMS can drastically reduce your online training expenses, especially when compared to traditional training. You no longer have to pay for printed materials, travel fees, or any expenses associated with on-site training. Everything is done on the cloud. Plus, you already have an external partner online training platform in place that can scale with your organization. Which means you don’t have to invest in a new LMS as your business grows and expands.

There is a myriad of extended enterprise LMS benefits for your small business. Though it may seem like a counterintuitive option when you’re trying to minimize spending, it’s actually a sound investment, as you’re able to train in-house staff and external partners from day one.

Want to learn more about the possibilities of an Extended Enterprise LMS? Download our free eBook External Training 101: Everything You Need To Know BEFORE Buying Your Next Extended Enterprise LMS to learn how an extended enterprise LMS can help you improve your profit margin and monitor partner performance. You’ll also discover how to choose the right pricing model and deployment option for your organization’s needs, as well as tips to use your new extended enterprise LMS for customer training to build brand loyalty.