Velpic’s Version 3.1 poised to capture greater market share
Velpic’s (ASX:VPC) much anticipated release of Version 3.1 of its e-learning platform sees not just the launch of a new product, but the adoption of a new strategy by the company which should result in enhanced client retention, as well as the potential to compete more effectively in the learning management systems (LMS) industry.
As a backdrop, Velpic Group consists of two related entities, a cloud-based video e-learning platform and Dash Digital, a brand technology agency. The group has developed a unique online platform that provides a scalable cloud-based training induction and education solution for businesses.
Velpic’s platform allows businesses to create their own training lessons and distribute them to staff and contractors who can access the Velpic platform on all devices including mobile phones and tablets.
Its technology has already been adopted by many ASX 200 companies, and with the announcement today that the company has transitioned to a ‘per active user’ charging regime there is added incentive for more regular use of its platform, as well as the potential to grab a greater market share of the burgeoning LMS industry.
How much market share Velpic could grab remains to be seen. If you are considering VPC as stock for your portfolio, use this information in conjunction with all other related information and seek professional financial advice.
In terms of platform changes, Version 3.1 includes new features that allow users to create lessons via uploading existing training content in a variety of standard document formats including, but not limited to PowerPoint, Microsoft Word and PDF.
This allows clients to quickly and efficiently compile their existing lessons on Velpic’s e-learning platform and start to use the platform immediately from the day of signup.
Prior to Version 3.1 being launched, lesson content had to be recreated by the client as videos using the Velpic Editor which often delayed the rollout of lessons to staff.
With the new system clients can upload existing content, allowing staff to immediately commence lessons. In tandem with these operations users can design and build replacement video based lessons.
One of the key benefits of Version 3.1 is that it facilitates the fast tracking of training while still complementing Velpic’s existing video content creation lesson functionality.
The improved functions and change in pricing structure are consistent with management’s recognition that learning management systems are no longer viewed as a tool to use for the occasional lesson, but a platform that becomes part of the day-to-day operations of all staff and management across an organisation.
Staff training is no longer considered as an onerous function of compliance, but a means of improving efficiencies and productivity within an organisation.
Velpic chief executive, Russell Francis said, “Trends in the workplace such as continuous learning and knowledge sharing mean that access to training content and a company’s core knowledge within the LMS is a daily activity for most staff”.
With regard to the functionality provided by version 3.1 Francis said, “The platform as a whole remains ahead of the competition by allowing content to be ultimately developed into video lessons, and the user seat pricing is an exciting evolution that meets the day to day training needs of modern businesses.”