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No need to remember your GCSE maths lessons, as Ciphr’s LMS ROI calculator is the essential tool to demonstrate the potential value of this substantial investment – both in terms of costs and efficiency gains
So you’re ready to purchase a new learning management system for your organisation. However, your stakeholders have asked you a few questions before you sign the contract. What’s the real value of an LMS? What metrics can be used to assess these values? What are the costs of our current solution, and how can a new LMS reduce these (and mitigate any risks)?
Now you have a question for yourself: is there a tool that can help calculate return on investment for an LMS? The good news is that Ciphr has an LMS ROI calculator that contains all the information you need to get an estimated ROI percentage for stakeholders. This guide takes you through how to calculate return on investment using the tool, and what it can show you and your organisation.
How to calculate return on investment: understanding each metric
Measuring compliance risks and expenses
What compliance looks like will differ between industries – what applies in banking won’t be needed within healthcare, for example – but the reasons to comply will be the same. Not only does it improve customer trust, business revenue and your own internal processes, you’ll be better protected from legal action and financial penalties. And this is where your LMS comes in.
Using the ROI calculator to determine…
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