Price is a top priority for higher education institutions choosing a learning management system (LMS). It is a fact that most educational institutions want to provide online learning facilities to their students while staying within budget. Price comparisons for LMS solutions can take some time as providers have different payment plans. Some vendors provide pricing information on their websites, while others ask you through different mediums to connect with them directly for a quote.
What is an LMS?
The learning management system is designed especially for delivering and tracking educational and training content. It is used by companies for employee onboarding and training and by educational institutions for teaching students. E-learning tools include personalized content, mobile tutorials, and gamification. LMS solutions can increase employee engagement and retention.
The learning management system consists of several modules, including:
- Learning Management: Learning Management allows users to organize and automate further training and education. It includes tools for user information management, scheduling, alerts, messaging, and content delivery. Administrators can also define training requirements and allow users to self-register for certain courses.
- Content Library: Many LMS platforms include a prepackaged material library with prepared learning materials. Libraries can cover a wide range of topics, such as customer service, safety regulations, and management techniques.
- Content Development: Organizations or educational institutions can effortlessly develop custom course content using templates or from scratch. The course creation tool allows administrators to create multimedia courses such as infographics, animations, videos, PDFs, and PowerPoint presentations.
- SCORM Compliance: The SCORM, which stands for Shareable Content Object Reference Model is an industry-standard that enables learning management systems to include third-party content without duplication or recoding.
- Synchronous Learning: Synchronous learning requires students to study online or in a physical classroom at specific times, which is destined to encourage collaboration with each other. However, coordinating and scheduling synchronous learning can be a daunting task.
- Asynchronous Learning: Asynchronous learning allows students to access study materials at different times and locations. The main benefit is that students can learn at will. Because students are not tied to a schedule, companies often set deadlines to encourage users to take courses.
- Gamification: Also known as game-based learning, gamification keeps students engaged by providing incentives in the form of points, badges, etc. Students stay motivated by the overall competitiveness, entertainment, and casual nature of the game.
- Mobile Learning: Mobile learning allows students to conveniently access the available LMS materials via a dedicated mobile app or web browser. This specific feature makes things easier for remote and asynchronous learners and lets them complete courses anywhere.
- Testing and Assessment: Tests, assessments, and quizzes show the real progress of students and whether they have retained what they have learned or not. After each lesson or at the end of the course, they can be added. Analysis tools can easily spot learning gaps and proficiencies.
- Performance Tracking: For determining whether a general training program is effective or not, performance tracking and reporting features are there. Organizations and educational institutions can analyze how users are performing on their courses and how much time they spend studying.
- Certification and Compliance Management: Certain industries or occupations require employee certification or compliance training. This function manages and tracks whether employees have met all requirements and can generate audit reports.
LMS Pricing Models
The learning management system is used in several places such as companies, schools, hospitals, and others. The differences between customers in this market are huge, so the pricing model for LMS solutions is just as flexible as well.
When it comes to the pricing models, LMS solutions often use a software-as-a-service (SaaS) pricing model. In conclusion, customers need to pay a dedicated subscription fee for the features that they want in the LMS. Some LMS providers also offer annual or one-time licensing fees or have free versions of their LMS.
These are the four standard LMS pricing methods:
- Per-User, Per Month: One of the most common payment options is a subscription fee per user per month. This number is calculated based on the total number of users in the system or the number of active users who are enrolled in the course. There may also be an initial account creation service fee. Other than that, the seller can even demand an annual payment even though the price is broken down every month.
Fees are usually around Rs. 75 – Rs. 365 per student per month in India, depending upon the LMS service provider. Education institutions, as well as small and medium enterprises (SMEs) with general training requirements, are best suited
- Per-User, Per Use: LMS solutions come with a lot of features, tutorials, modules, and tools, which is more than what most institutions or companies need. The per-user pricing model allows customers to forego certain software components and only pay for what they actually need and use.
This may mean being billed based on the module used, the number of accounts that are active, or just the content used by the account. It depends on the agreement between the seller and the customer.
The prices range from Rs. 75 to Rs. 750 per student, per use. This option is best for companies that do not require regular employee training.
- Per Course: Some LMS providers have the option to pay for courses for employees who need certifications specific to their industry or position. Vendors may provide content in internal libraries or work with third parties to deliver lessons through their LMS platforms.
These pricing options include elements of a pricing model for each student, but at a premium price for custom content. Best suited for this option are industries that focus on compliance with students who need to be certified, including Human Resources, Safety, or Healthcare.
- Licensing Fee: Companies and education institutions even have the option to purchase a license to install the LMS software on-site. The licensing fee can be paid annually or in advance as a one-time fee. Often there are additional implementation fees for installation, data migration, and training, and tuition fees may also apply.
Licensing fees typically range from Rs 20000 per month to Rs 100000 per month, including the cost of the setup additionally. This pricing model is best for higher education institutions or medium or large companies with existing data centers and internal IT staff.
Currently, the LMS market in India is very impressive. The best of the LMS service providers in India are offering LMSs and related services at affordable rates. Consumers can benefit from amazing LMS services with prices ranging from Rs 20,000 per month to Rs 1,00,000 per month. If you are looking for a dedicated education-based LMS, you can check our pricing models also and use our eCampus LMS. Our basic LMS model is completely free of cost while other ones with advanced features are being offered at a nominal price.