Digital disruption in financial services: a 2021 forecast and beyond
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Digital disruption in financial services: a 2021 forecast and beyond

2.2.2022

Back in 2000, The Dow Chemical Company, an American multinational chemical corporation, fired 61 workers and took disciplinary measures against 540 more for sending offensive emails over the organization’s servers. To make sure such an incident wouldn’t happen again, CEO Bill Stavropoulos required all 40,000 Dow employees working in 70 countries to complete training on workplace respect and responsibility.

This training could have cost the company a fortune if it had been held using traditional classes. But the company took advantage of technology to provide training via a cost-effective web-based system.

Over the four-month course, Dow Chemical managed to save 30 percent of the time typically spent in classroom settings and $2.7 million that would have otherwise been spent on manual record-keeping, classroom facilities, course handouts, and instructors’ salaries.

It’s been over 20 years since Dow Chemical’s success story, and there have been lots of technological breakthroughs that have influenced eLearning since then. Such giants as Toyota, Mazda, Shell, and IBM have long been taking advantage of edtech solutions to provide employee training. But does this mean your company also needs to jump on the eLearning bandwagon?

Does your company need an eLearning solution?

No matter what industry your company belongs to, there comes a time when you need to do the following:

In these situations, a learning management system (LMS) comes in handy. Despite the dizzying number of ready-made LMS solutions, it can be beneficial to develop a customized LMS that’s perfectly tailored to your needs from the get-go. In the long run, building your own LMS can prove to save time and be more cost-effective than choosing the most suitable option among ready made eLearning systems. In this guide, we’ll discuss the benefits of a custom LMS and give you a general idea of how to implement one.

What is an LMS in a nutshell?

An LMS is eLearning software that manages learners, learning materials, and the relationships between them. For instance, in terms of talent management, an LMS allows companies to track workers’ profiles and organizational roles.

An LMS can also track training history and suitable learning paths. It’s a place for employees to register for training and access online learning materials. In addition, an LMS tracks students’ progress as they work through assigned or selected learning materials. A typical LMS consists of two components:

An LMS is eLearning software that manages learners, learning materials, and the relationships between them. For instance, in terms of talent management, an LMS allows companies to track workers’

An LMS is eLearning software that manages learners, learning materials, and the relationships between them. For instance, in terms of talent management, an LMS allows companies to track
workers’

Common downsides of ready-made LMS solutions

  • Too generalized of a feature set.

    Many existing training solutions are more complicated than necessary. That’s because they’re designed to solve problems for all users with a one-size-fits-all feature set. Ready-made solutions often either lack certain features or have too many unnecessary ones.

  • Difficulties with generating personalized learning content.

    Many existing training solutions are more complicated than necessary. That’s because they’re designed to solve problems for all users with a one-size-fits-all feature set. Ready-made solutions often either lack certain features or have too many unnecessary ones.

An LMS is eLearning software that manages learners, learning materials, and the relationships between them. For instance, in terms of talent management, an LMS allows companies to track workers’ profiles and organizational roles.

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Articles & Stories

Digital disruption in financial services: a 2021 forecast and beyond
Anna Li Preston
Anna Li Preston

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond all

Read More
Digital disruption in financial services: a 2021 forecast and beyond
Anna Li Preston
Anna Li Preston

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond all

Read More
Digital disruption in financial services: a 2021 forecast and beyond
Anna Li Preston
Anna Li Preston

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond all

Read More
Digital disruption in financial services: a 2021 forecast and beyond
Anna Li Preston
Anna Li Preston

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond all

Read More
Digital disruption in financial services: a 2021 forecast and beyond
Anna Li Preston
Anna Li Preston

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond all

Read More

Important

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond

Read More

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond

Read More

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond

Read More

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond

Read More

Digital disruption in financial services: a 2021 forecast and beyond

As in many industries, trends set in place towards the latter end of the past decade have accelerated beyond

Read More

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