Compliance Management is evident in all businesses, large and small, new or old. While the types of compliance management necessary for success may not look the same, the underlying need for compliance is there and in many cases, controlled by more than one overseeing agency. From Federal to state governments, industry auditors and regulations, to meeting qualifications standards and certifications in an individual role - compliance is here to stay. Thankfully, with the robust growth seen in the learning management system industry, there is a much easier way to stay up on compliance efforts without adding a new product or vendor to manage.
If you currently work with a learning management system and vendor, it is likely that compliance management is also able to be monitored within the system you are using. An LMS is not just for learning anymore, with many features and functions that can be used to serve a dual purpose - there’s even more of a reason to invest in a learning management system if you have not already done so, or repurpose the one you have to work even harder for your organization.
It Already Works Like This
Similar to any other training that is being offered by an organization, a learning management system is a holding spot for all training materials, along with course completions, competencies, and more. Since this is the case, all records are one click away, it only makes sense that all records should be held within the same software to achieve the best outcome - not to mention, double up on something you are already investing in to make it work overtime for your organization. Instead of investing in two solutions, maximize the work your learning management system is doing for training and development but also for compliance.
It Does More Than Training
Oftentimes, learning management systems do more than just hold training material, which is good because regulatory agencies, most times, are looking for more than just a training record. With places to keep notes, observations, conversations, and more - oversight committees are able to fully audit with complete transparency in one single location. We call this a win-win-win!
Tailored for Learners
With administrative controls, it is easier than ever to turn off portions of learning management systems that do not need to be seen by others in the organization. Whether by region, department, job role and more - customization is possible on the learners dashboard for each person to see what is relevant to them without wading through other classes and materials that do not apply.
Reporting is Simple
It is common to find that regulatory agencies do not want to look through excel documents, not because they are not organized, but because they are looking for more formal tracking and reporting with time stamps and more. With reports that are built out within LMS platforms, it is more likely that the reporting standards meet your regulatory agency not to mention, making sense of data is easier when the system does it for you instead of running your own analysis to draw conclusions from.
Automation, Automation, Automation
Excel can’t send automated reminders about expirations or upcoming classes, but an LMS was designed with this sort of functionality. This feature saves loads of time and stress about who is remaining compliant while others are falling out of compliance.
Ultimately, it makes a lot of sense fiscally and otherwise to double up the use of your learning management system and make it work for not only training and development purposes but also compliance. With loads of features and functionality that can expand into compliance management, it is worth looking into a learning management platform that has these features so you can reap the greatest reward from using it.
To read more about compliance training in a time of learning management systems, read here.