Custom LMS: Key Features, Benefits, Development Costs

Overview: LMS is becoming a crucial part of businesses, the reason behind the same is that it streamlines the procedure, enhances the efficiency of the workforce, and sustains growth. Here in this blog, we will walk you through a custom learning management system, why businesses should build it, its benefits, and key features.

Do you know the LMS market is expected to grow from USD 22.1 billion in 2023 to USD 51.9 billion by 2028?

So, the digits speak for themselves, right? An effective tool for managing learning and development initiatives is a custom learning management system (LMS). With the help of LMS, businesses are able to automate all the processes and deliver all the updates on time to the learners. Sounds Interesting!

On the other hand, it has proved a great help for businesses in upskilling initiatives. It facilitates them to provide various courses to their employees effortlessly, monitor progress, deliver the materials to your clients, and build training materials easily. Ultimately, it is an all-in-one solution.

In this blog, we will take a deep dive into learning management systems, their advantages, high-caliber capabilities, most importantly why should businesses invest in custom LMS systems, and a lot more. So, let’s get started!

What is Learning Management System?

A Learning Management System (LMS) is a software application designed to manage, track, automate, and report on learning and development initiatives. Essentially, it is a platform for creating, managing, and delivering online learning content.

In today’s dynamic world, it is widely used across different industries, including corporate, educational institute, healthcare, etc. Even studies have shown that around 90% of organizations offer digital learning to their employees. Due to that, the demand of customized LMS development is consistently surging.

Custom LMS design also offers you a good opportunity to tailor it from any aspect, such as logins, reporting, etc. Hence, you can make it more appealing as per your business requirement and company brand identity.

Why Should Businesses Build a Custom Learning Management System?

By now, you must be aware of the fact that a custom LMS can be used in businesses to streamline the entire process, and it will have benefits. Yet again, even if your business is not confined to education and if that is not just on your priority list, then remember there are going to be days when you will look forward to considering this aspect.

Furthermore, enhancing your business in all possible ways, retaining your employees, unleashing the potential of your employees, and analyzing the performance of your staff play a vital role in your business, right?

With the help of LMS, not only will you be able to get help with the onboarding process, but also you will be able to maintain continual learning of your personnel. Moreover, you will be able to ensure that your customers are satisfied with your products.

So, the following are some proponents in favor of corporations developing their learning management system:

Reason 1. Streamlines the Whole Process

Custom LMS is not just a basic platform; it streamlines the entire work process. It supports the creation and delivery of material by instructors. It can help learners view and track their progress to assess their skillset or progress. It allows organizations to help learners connect with others via groups, forums, and chat functions, leading to better collaboration between different departments within the organization.

Reason 2. Accelerates the Growth

If your organization is experiencing growth and change, you can use LMS to help there. It will help organize the process and track progress to prepare for future changes. By tracking their progress, learners can assess their skillsets and progress.

Reason 3. Increases Efficiency

Custom LMS makes it possible for businesses to automate all processes, thus increasing the efficiency of a work team. Automation will increase chances of learning and development, hence helping organizations to grow at a faster rate in the future.

Reason 4. Increases Adaptability

An ideal way to get outside of an office or a regular classroom is with a personalized LMS. When as a business, you will have access to all the information in the virtual environment, and people will be able to access it from anywhere. The system will be beneficial for the students as well as employees of the new generation.

Reason 5. Saves Cost

Efficiency is one of the best benefits that come with LMS. You will be able to save a significant amount of time, effort, and money with the aid of LMS. Though developing one such system might cost you now, you need to understand that it is just a one-time expenditure that will pay you off shortly.

Reason 6. Get a Custom Solution

One of the main reasons to opt for LMS is that you will get a bespoke solution that allows you to get a tailored product specifically for your needs and interests. As the owner and prime user of LMS, you can decide which functions to and not to implement.

These are a few explanations for why companies ought to use customized LMS. If you do not have enough tech expertise in this field, then you always have an opportunity to hire professional software developers to help you manage the project for you.

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Top Advantages of Custom LMS

We now know that an LMS generates a comprehensive learning environment that supports the employee's journey, from the provision of learning material to the testing and evaluation of the retained knowledge.

One such system can be used for several purposes in an organization, i.e., for employee onboarding, customer training, security awareness training, certification training, reskilling, etc.

A learning management system (LMS) is an interactive learning site that replicates the learning experience while offering extra benefits of custom software development like 24-hour accessibility and the ability to learn on the go. The system also offers cutting-edge features and functionalities to improve learning, support the acquisition of new skills, and aid in information retention.

So, the main benefits of LMS for your business would be as follows:

1. Complete Control Over the Features

Not to overlook the fact that different courses are taught in various formats, and different employees tend to learn things in different ways. Custom LMS aids in creating new teaching and learning opportunities. It enables the ability to create powerful courses with several facilities, depending on your business requirements.

2. Cost-Effectiveness

Building a custom LMS is a cost-effective option as it is cheaper than the regular use of the existing analogs. Similarly, to this, the investment is justified by the increase in productivity, efficiency, and time usage. The number of users, storage capacity, and capabilities determine whether you pay a monthly or annual subscription.

3. Innovative Technology

The usage of customized LMS also enhances creativity and enhance business performance via more efficient processes. Tools like auto-question generator, assessment tools, auto-grading system, automatic self-grading system, etc. can be used for custom design of the system based on the requirements of your company. It also helps to nurture innovation at its peak as it enhances creativity and develops new ideas that help to improve business processes in a better way.

4. Scalability and Inclusivity

When the number of employees increases in an organization, it is essential to scale up the training and skill enhancement facilities. Custom LMS is an ideal solution that offers a wide range of features, functionalities, and tools, that can be customized based on the number of employees. Plus, it not only helps in the betterment of outcomes but also offers flexibility and customization, which helps to keep pace with changes in technology as per organizational needs.

5. Attractive and Engaging Learning Environment

With the advancement in technology, learning has become exciting and challenging. Custom LMS facilitates smooth and simplified integration with videos, images, and e-learning tools that can further enhance the overall experience of learning.

Let's move on to the main features of custom LMS after discussing these wonderful advantages it offers.

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Key Features of LMS We Can Help You with

When you are looking forward to developing a custom LMS, you need to understand that there are going to be some learning management system features that will be common for almost all systems. The reason for this is that several features are regarded as essential. They will, therefore, undoubtedly be useful for various company sectors, particularly when it comes to providing training and courses.

To better know your requirements and best-fit features, consider hiring LMS consulting services. These consultants will help you select the best-fit functionalities aligned to your business needs and objective.

Now let us dive into a few features that a developer must consider when creating a custom learning management system.

1. Cross Platform Accessibility

Due to this capability, users can access the LMS from any device, regardless of its operating system or software platform. This feature should make the learning app's mobile version—the LMS mobile app—available for both iOS and Android devices. On the latter, you would want the LMS to be compatible with the majority of browsers, including Chrome, Safari, Opera, and others, if it is web-based and has cross-platform accessibility.

2. Admin Dashboard

The dashboard can provide automation of basic LMS functions wherever possible so that the admins do not have to spend time on monotonous tasks, like making reports, any bulk actions, etc. Quick insights into such areas ensure that the employees benefit from learning programs in place. When the administrator notices an unusual pattern in a user's typical learning activity, they can use this dashboard to access the user's panel. It will enable the company to determine whether improving experience is necessary for improved performance.

3. Intuitive UI

It is one of the must-haves features in custom LMS. It helps the users quickly get familiar with the functionality of the learning management system. Remember that your UI is intuitive, simple, and visual. It involves creating a system that is simple to download on any operating system and gives a stress-free setup process, to put it simply. Users should be able to sign in with just one tap, if possible, whether with the aid of an OTP or a biometric verification system for high security.

4. Tailored Learning Roadmap

This feature helps to track the learning process. Your custom learning management system must be able to distinguish between the various learning stages. Because, it is impossible to have a robust course design until we first have a clear idea about what exactly our learners need, and then how to get them to the right stage of learning.

5. Educational Games

This feature can boost class participation by making them feel more involved in the curriculum. In this way, your learners can learn better while playing educational games. You may effortlessly and amusingly instruct them on difficult material with the help of this tool. This way, they will also increase their retention levels by retaining information better when it is presented interactively.

6. Evaluation and Assessment

The feature of evaluation and assessment is all about performing assessments at different stages of the course. The same learning assessment should be used by all the students. This way, you will be able to save a lot of time while organizing exams and preparing evaluation sheets.

7. Testimonials

The feature ensures you can do all your marketing benefits from just one platform. If your business uses social media for marketing, it will help in sharing positive comments from learners to reach out to more learners. You can also use this feature to showcase case studies related to the learning experience of your employees on an individual basis, or in teams.

8. Live Support

With the help of this feature, i.e., live support, you will be able to provide quick responses to all kinds of queries. It will help you in the best possible ways to eliminate the call volumes and enhance your customer loyalty. The feature will help you to increase the response time regularly without putting effort into an additional investment.

9. Multiple Curriculum Management Tools

The feature is responsible for training and education materials management. It aids in the monitoring of both current and upcoming courses. Plus, it enhances course planning, dissemination of new material, reporting, etc.

10. Open-Source Technology

The feature allows developers to design their learning management systems. With it, you will be able to save costs and time in building a custom LMS from scratch. Furthermore, it is eco-friendly as it involves a lot of research on technology and its dynamics.

11. Advanced Analytics and Reporting

You must pay attention to what is crucial for the success of your business, do you have an idea? Think! What is it? Well, let me help! The ability to manage several learning materials across all platforms is important for the success of your business. Yet again, it will not work until you have access to the right tools that can help you with monitoring and reporting needs.

12. Third-Party Integration

This feature will help in the best possible ways to improve the overall performance and learning experience of the user. Consider building a platform that can be combined with different platforms, tools, or plugins.

13. Compliance with Standards and Specifications

You must be aware that eLearning software is subject to technical standards and requirements. These standards enable the development of educational materials that are compatible with various eLearning software solutions. If your company wishes to add outsourced learning materials to your LMS, you will need to abide by these requirements.

These are a few features for custom LMS that you should consider adding to enhance the educational process in your business and increase ROI. Now that we have a picture of features, benefits, and reasons to introduce LMS in your organization, let us unleash the development cost for the same.

Development Cost of Custom LMS

Before we dive into the factor of LMS development cost. Look into steps to build an LMS from scratch.

The cost of the custom learning management system development will entirely depend on the end user. It will rely on the features that you wish to add, the tools that you want to choose, your intentions of upgrading it shortly, etc. Yet again, there are a few questions that you need to ask before getting started to have an estimation or raw idea for the cost of development.

1. Is the LMS going to be local or cloud?
2. How much load is expected on the system?
3. What is the scope of work?
4. Do you think you will need to scale up the system shortly?
5. Will the system need continuous maintenance?

The price of development may therefore vary depending on these and other factors. Do not forget the cost of maintenance and ongoing support, and bear in mind that there will be an additional charge for any future additional features you desire to add.

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ConclusionWith this blog, not only must you have a clear picture of how crucial LMS is for the growth of your business, but also, with the help of this information, you will be able to make an informed decision for your enterprise.As a leading software development company Radixweb, we can help you with custom LMS development in education or any other industry, including healthcare, non-profit, finance, and banking. With 25+ experience in this niche, we believe that our assessments are realistic. Our experts can give you the best solution that fits your business needs, while the tools and their workflows will make the development process easy, and effective.Looking to get started with our development services? Get a free quote today by contacting us.