A lot of corporate offices and educational institutes rely on management systems to educate and train their employees/students. Training management systems (TMS) and learning management systems share a thin line and complement each other.
Consequently, both of them might seem similar to each other, but there is a crucial difference between the two.
Learning management systems (LMS) only manages eLearning for its user, whereas a training management system (TMS) handles both learning and instructor-led training. There are a lot of other things a training management system can do, like administering, delivering, reporting, analyzing, scheduling, booking, attendance tracking, and much more.
If you are looking to invest in a training management system and are still confused about your decision, you are at the right place. Let us begin with the basics to allow you to make an informed decision.
What is a Training Management System?
A training management system, also known as training management software, is a two-in-one system used by multinational companies, corporate offices, and educational institutes to manage their employee training requirements and back-office administrative duties.
Each department in a company has different administrative and training needs. It would be a waste of time to train employees of different departments through a singular training module. At the same time, making a different set of training modules for each department manually can be an extremely time-consuming and exhausting task.
This is where a training management system comes into play.
It can organize, schedule, moderate, and run multiple sets of training modules at the same time. You will also not have to worry about menial tasks like classroom booking, attendance marking, other class-related communications, etc., as the training management system will take care of everything.
The management system market is expected to grow from USD 14.43 billion in 2021 to USD 40.95 billion in 2029. The global pandemic of COVID-19 played a huge role in its expansion.
Hence, if you are planning to invest in a modern and user-friendly training management system, now is the right time.
Features of a Training Management System
A training management system comes with numerous features and capabilities. Some of the main features you will find in all training management systems are:
Online Registration System
Imagine this. Your company just went through a major hiring process, and you have more than 500 new employees. All of them must undergo new employee briefing and orientation followed by a detailed orientation from their respective departments.
How much time will it take to register them for training manually? The probability of wrong enrolment or other confusion is also high during the manual registration process.
Keeping this in mind, training management systems offer an online registration system. The new employee can log into the portal and register themselves for all the mandatory and other additional training modules they might want to attend. This will be followed by automatic attendance tracking and report generation after the training has been successfully conducted.
It will also allow the employees to build their trust and comfort in the company through a smooth and convenient onboarding and training process.
Training management can organize and run multiple courses and training modules at the same time. Additionally, through its course management system, the admin can also add and create new modules whenever necessary, along with being able to alter the existing ones.
Through the course management feature, it is also easy and quick to enroll new participants anytime, depending on the onboarding and off-boarding process. The attendance of the users will be automatically marked, and their progress can be tracked with the click of a few buttons.
In case there are some functionalities the training management system does not offer, then that gap can be filled through third-party integrations. For instance, you can easily integrate your TMS with accounting partners and payment providers to streamline your monthly payroll.
Some other basic third-party integrations almost all TMS offer are Adobe Experience Manager, Canva, Google Chrome, Google Slides, HubSpot CRM, Microsoft Word, Shopify, etc.
There are numerous reminders you might have to send to your employees each day. With a training management system, you can set up automated communications through emails and SMSs. You can set the template and time for each reminder to be sent out.
Additionally, you can also make different emailing groups according to the different departments of your company.
These management systems also offer numerous pre-made templates for each email you send. You can customize these templates as and when needed. Some common categories of pre-made email templates are reminder emails, meeting alert emails, motivational emails, etc.
Finance and Accounting
A training management system is built to increase productivity by automating necessary routine tasks. Accounting and financing is one such mundane task that must be looked after every day with great precision and focus.
As a result, a training management system provides various features related to finance and accounting, like price agreement templates, automated payment reminders, payroll management, cancellations management, payment tracking, invoice generation, customer credit line management, and much more.
Additional Benefits of a Training Management System
Some more advantages and benefits of a training management system are:
- Increases both employer and employee productivity
- Sets in place a streamlined training management process for employees
- Enhances employee engagement with the company
- Supports and promotes a healthy corporate work culture
- Allows both online and offline employee training capabilities
- Automated scheduling and tracking
- Regular reporting analytics training
- Regularly takes employee feedback for improvement
- Saves precious money and time
Hope the information mentioned above has been beneficial in helping you decide whether it would be wise to invest in training management software. There are numerous training management systems available in the market. Make sure you do proper research and closely look through all the features before making a final choice.
You can check out Hurix, a digital platform offering exceptional management system services since 2000. Some of its existing key customers are Sage Publishing, Philips, FedEx, Deloitte, Ikea, and many more.