Whether you’re a first-time buyer, or a seasoned learning and development expert looking for new technology, selecting a learning management system (LMS) is no small task.

According to Forrester Research, the $5 billion LMS market is continuing to grow for several reasons – a new workforce is driving new learning approaches, companies are continuing to upgrade to (and seek out) SaaS solutions, more and more small and medium-sized businesses are entering the market and organization’s extended enterprises are growing exponentially. Add to this the fact that there are hundreds of LMS options in the market, and navigating the complexities in technology procurement can become daunting.

On a recent HCI webinar, Claire Schooley, Principal Analyst Serving Application Development & Delivery for Forrester Research, shared her insight into the changes in the LMS market and the five steps that organizations should to successfully ensure they select the right LMS.

Here is an overview of the 5 steps that she lays out in the session.

Step 1: Communicate features and value of the LMS – The first step in any LMS buying journey is always making the business case for change. Mapping your organization’s goals and objectives to your LMS needs can provide a foundation for proving why a change in your LMS is a “must have.”

Step 2: Assess what you have and what you need – Step two ties directly into step one. It is time to dive into your current learning system and take stock of your existing activities and technologies. Are there areas of duplication? What are you core needs?

Step 3: Assemble a steering committee to drive LMS selection – Selecting the right LMS is a collaborative effort and requires a team of people with a vested interest in the success of the project. Involving a team of people from different areas of the business can help you streamline your efforts to assemble company-wide needs and can be beneficial when brainstorming cutting-edge approaches to learning.

Step 4: Determine the business requirements for the LMS – Your requirements documents should list the LMS functions necessary to execute your learning strategy and support your internal processes. Most requirements can be broken into three areas: functional (what the system needs to do), technical (IT needs) and operational (how the system should run).

Step 5: Identify potential LMS providers – Now it is time to do some research. There is no shortage of LMS vendors out there. Try narrowing down your list by prioritizing your requirements and choosing the top vendors that fully meet your “must have” list, but also can provide some of your cutting-edge wants.

Choosing an LMS isn’t easy! View the webinar replay for all of Claire’s insights into LMS selection that will help take the anxiety out of the process and enable you to successfully lead the project with confidence.