How Companies Can Reduce Costs with Cloud-Based Training

Today’s volatile economic climate has many life science companies thinking
differently about cost containment within all operations. The key for executives
is choosing the initiatives that will have the greatest impact on an organization’s
bottom line. One of these critical areas for cost containment is training
management.

Companies of all sizes, from global conglomerates to small and mid-sized companies, have embraced cloud-based training to achieve compliance, while reducing major costs related to administration and IT support. Learning systems delivered through the Cloud have been shown to help organizations “centralize” compliance learning programs for not only employees, but suppliers, sales agents,
clinical sites, customers, and other third parties. This singular approach provides tremendous cost savings that are inherent in the cloud computing model, while also removing training management redundancies.

In this paper, we have outlined 10 value drivers that affect Return on Investment
(ROI) for employee training management among life science companies, and how
they can be achieved through cloud-based training management. Most of these
drivers revolve around effi ciencies that ensure that all employees, but especially
quality teams, remain productive on their core roles, while also reducing costs in
many areas including, travel, administrative, documentation storage, reporting, et al.

These 10 drivers were derived from learning management system (LMS) projects
that we have conducted with more than 300 companies from around the world.
These drivers are being used by organizations to reduce operational costs, on
average by 50%, thus improving profi tability and assuring compliance with leading
regulatory agencies.

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