CALGARY, ALBERTA, CANADA, April 2, 2024 – Absorb Software, an AI-powered, unified learning management software (LMS) and learning experience platform (LXP) provider, today announced the results of The Total Economic Impact™ (TEI) study conducted by Forrester Consulting. The study found that a composite Absorb LMS customer achieved 490% Return on Investment (ROI) over three years, on risk-adjusted present value (PV) quantified benefits.
Measuring business impact and ROI of learning is a critical need for L&D professionals, but is often not well understood. Being able to translate usage and other LMS metrics into tangible business value is still a challenge. To help L&D teams show ROI value and in turn grow their investment, Absorb commissioned Forrester to conduct the TEI study. The study showcases the significant business value that Absorb LMS customers were able to drive for their enterprises through robust learning programs for learners internal and external to their organization. For this study, Forrester interviewed 7 Absorb customers and created a composite organization with $5 Billion USD in annual revenues to showcase the ROI value of Absorb LMS.
The study comes just after Absorb was included as a strong performer in The Forrester Wave™: Learning Management Systems and Experience Platforms, Q1 2024. Katy Tynan, Principal Analyst at Forrester states in the Wave, "With a majority of clients using the product for a blend of internal and external use cases, Absorb remains focused on the destination platform learner experience. Reference customers appreciated the administrator experience, which is differentiated in its use of natural language to support administration. Absorb remains an excellent choice for partner and customer learning".
"Our objective is to provide learners with the best possible adult learning experience, to provide L&D professionals with a powerful, efficient, flexible solution, and to drive business value for enterprises,” says Saravana Sivanandham, CMO, of Absorb LMS. “We believe learning is a revenue generation function and not just a cost center. We know many L&D professionals struggle to showcase the ROI of their learning programs. Our values are centered on ensuring value for our customers, which is why we commissioned this study to help bring it to life.”
The findings of the Total Economic Impact™ study highlights the significant economic advantages of the composite organization deploying Absorb LMS over a three-year period, including:
- 20% increase in sales resulting in an incremental gross profit boost of $3.8M from seamless and timely training of Go-To-Market teams (Sales, Customer success, and partners)
- Increased compliance training completion rates from 85% to 95%, equaling $3.7M in savings of avoided fines for noncompliance by having a single admin tracking organizational compliance
- 40% reduction in employee onboarding time resulting in $1.2M in time savings through faster time to productivity of newly onboarded employees
- An extra $1.1M in profit from externally monetized coursework sold through the LMS
- 99%-time savings in faster reporting by moving from manual report building for each learning program to an all-in-one automated report, delivering a cost savings of over $967K
- And other qualitative benefits of having Absorb as a software partner such as streamlined migrations from legacy systems, quick implementation and world-class customer service
To explore the study in detail, visit the Absorb website to download a copy.
Learn more about how Absorb delivers what matters most to their customers.
About Absorb
Absorb Software is an AI-powered learning management system (LMS) provider. Absorb LMS is purpose-built for an engaging, personalized learner experience and efficient administration that enables millions of employees, customers, partners, and members to discover, absorb, and apply the knowledge they need. From meeting compliance to motivating learners, up-skilling/re-skilling, and creating/curating to monetizing course content, the platform unlocks potential. For more information, please visit www.absorblms.com.
