Training Tracking System: Buy or Rent?

Training Tracking System: Buy or Rent?

Do I rent or buy? It’s a good question for those moving from an apartment to a house, but an even better question for those looking for a training tracking system. Should I buy a house so I can paint the walls and make it my own? Or should I rent it so I don’t have to mow the yard? You could ask yourself similar questions to buying or renting a training tracking system. Should I buy a system so I can control and manipulate the data? Or should I rent a system so I don’t have to worry about the technology required? This post won’t tell you if you should buy or rent a system, that’s for you and your HR leaders to decide. It will however, give you the tools you need to decide which is a better fit for your company.

Do I Buy It?

The capability to change and manipulate data is a big seller to buying the software. When you buy the software, it is fully yours. You can convert information because it is on your system. Now, considering the price tag of many training systems, it may make sense for your team to buy the system if you have the money upfront. These are key benefits to buying your own system:

  • Flexibility: It’s just like buying a house. Once you own it you can change and adapt it to your liking. Basically it’s your software, your database, your rules.
  • All Yours: Companies keep any given training software system for about 2 years, then they search for the latest and greatest. Assuming you’ve done your research and made the wise decision, there is no reason to change training software programs more often than that.
  • Bang for Your Buck: Normally the price tag of buying a system is about the same as renting it for two years. Typically a company will keep their training system for two years; however, you can keep it longer. It is forever yours when you buy it. Find the training system that provides the biggest bang for your buck.
Do I Rent It?

Sometimes it’s just easier to know the software is in someone else’s hands. They have the technology and resources to handle it. And quite frankly, it’s nice to have smaller payments. Here is why some companies prefer to rent a training system:

  • They don’t have the tech resources: Renting a system means that someone else is responsible for the technological resources it requires to house an entire training system. Since someone else is in charge it means your IT team doesn’t have to deal with it when things go wrong.
  • They don’t have financial wiggle room: If your company doesn’t have the biggest financial cushion, renting might be a better option… at least at first. It gives you the solutions you’ve been looking for and the solutions you’ve needed without the added financial burden of purchasing a system.
  • They’re looking for an easier buy-in: Renting normally equates to a lower monthly statement. The price tag and the minimal contracts that usually accompany a system rental are easier to sell to higher management.

So then there’s the question: how do you determine which is best for your company? That’s for you to decide. Company growth and culture has an impact on the decision to buy or rent training software. You have to weigh the pros and cons to make an educated decision on which method and which company will fit your needs best. Still need help deciding? Have a chat with the experts. Here at Visibility, we will match you with a current client that is knowledgeable of your industry and the size of your organization.

Take a demo of Cyber Train, or give us a call. We can get started on matching you with your training software mentor.

photo credit: Lori Greig via photopin cc