Thinking Cap LMS Pricing - why 5.6/10?

Thinking Cap LMS Review
ITQlick Score: 91/100
ITQlick Rating: (4.2/5)
Pricing: 5.6/10 - average cost
Category: LMS -> Thinking Cap LMS -> Thinking Cap LMS pricing
Ranking:Ranked 9 out of 523 LMS systems
Company: Thinking Cap
Pricing: starts at $65 per month
Typical customers: Start up, Small business, Medium business, Large business, Private use
Platforms: Desktop
Links: Thinking Cap LMS review, Thinking Cap LMS alternatives

Shlomi LaviShlomi Lavi / Jul 16, 2020

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What is Thinking Cap LMS's cost rating? (5.6/10)

When comparing Thinking Cap LMS to their competitors, on a scale between 1 to 10 Thinking Cap LMS is rated 5.6, which is similar to the average LMS software cost. Thinking Cap LMS offers few flexible plans to their customers, the basic cost of license starting from $65 per month, read the article below in order to calculate the total cost of ownership (TCO) which includes: customization, data migration, training, hardware, maintenance, updgrades, and more.

You can also leave your info with us to get a free custom quote with the break downs for your business needs.

Learning Management Systems Software Price Ranges

Companies in need of Learning Management Systems (LMS) software would typically have to pay between $10 to more than $1,000+. The price range reflects the different model vendors use; such as “Pay-per-Learner”, “Pay-per-use” and Licensing fee system. Software vendors would also charge for additional features such as certification and Gamification. Depending on the size of the organisation, LMS software price ranges are as follows:

  • Small businesses will generally have to pay between $3 - $300 for LMS software. For example, iSpring Learn starts at $4 a month, Talent LMS pricing goes for $59 a month, and Easy LMS costs $50 monthly. Coassemble starts at $99 a month, with its standard plan at $299 per month.
  • Medium-sized companies can expect to pay between $99 and $1200 for LMS software. Tovuti LMS, for instance, charges $450 a month, uQualio Professional pricing plan goes for $499 a month, and LearnWorlds costs $99 per month. Other vendors bill users per year; some examples of these vendors are GoSkills, which charges $199 a year, and SkillCast pricing goes for $1200 annually.
  • Large organisations should typically expect a price range of $1000-$7000 for an LMS software setup. Vendors may also charge for implementation, which brings about additional costs. For example, Docebo pricing starts at $1600 a month, LearnUpon Premium at $1700 and Looop Enterprise subscription cost price goes for $1199 per month. Nimble LMS costs $2950 a year; Gyrus goes for $3000 per year.

Prospective users can consider the price range of other LMS products as well.

Here of the best LMS best of breeds price ranges are as follows:

  • Certification Tracking Software Certification Tracking Software products typically have a price range of $3 - $6 a month for base subscriptions. For example, SAP Litmos begins at $4 per month with another “Plus” plan starting at $6 a month; also, CoreAchieve pricing starts at $3 per month/per user. However, there are other mid-to-high tier subscription plans as well, which can be up to $800 monthly. For instance, MindFlash cost price begins at $599 a month, Intertek Alchemy costs up to $499, and Prosperity LMS goes for $295 per month. Lastly, Absorb LMS costs $800 per month, excluding setup and user fees.
  • Mobile Learning Management Systems Software Mobile LMS software pricing typically falls within the range of $2 and $99 per month. For context, Brainsert Enterprise LMS pricing goes for $39 a month, KMI LMS for $2 a month and AllMyHR for $99 monthly. Other plans geared towards larger-sized customers have costs starting from $180. Examples are Canvas LMS, which goes for $380 a year, with a “Medium” plan for $760 yearly, and Moodle, which has a Mini plan that costs $181 a year.
  • Course Creation Software Course Creation software has price points which lie between $0 and $300. Eurekos, for example, begins at $300 per month, Think Exam Standard subscription goes for $65 a month and Tutor LMS costs $149 monthly. Other vendors use annual price models as well, such as ServiceSkills, which goes for $2990 a year, and MyPass LMS, which costs $18 annually for each user.
  • Employee Training Software Most Employee Training Software products start with a price point between $3 and $100. For instance, Degreed pricing begins at $10 for each user, ScriptPro price starts at $19 a month, and Newrow Smart beginning at $27 a month. There are other enterprise-level products in the best of breeds, such as Xapiapps which starts at $1000 per month, and KITABOO, which subscription runs up to $15000.
  • SCORM-Compliant LMS Software Users can expect to pay up to $1300 for SCORM-Compliant LMS software. For instance, Iridize starts at $500 a month, Arlo Training pricing starts from $99 and Articulate 360 charges $1,299 annually. Other Professional SCORM subscriptions have a price range of $175-$499. DigitalChalk Corporate pricing costs $499 a month, and Exambuilder Pro plan goes for $250 per month.
  • Social Learning Platforms Social Learning Platforms software have price points within $5 minimum and above $200 for various subscription plans depending on the vendors offering the software. For example, Basic subscriptions pricing begin at $5 a month, going up to $99; myQuest costs $99 a month, Eduson.TV pricing goes for $5 per month and Versal Pro for $5 as well. Examples of other mid-to-high tiered Social Learning products includes JoomlaLMS, which goes for $299 a month and Teachable Business plan, which costs $249.

What is the cost breakdown of LMS implementation?

When it comes to selecting LMS tools, buyers are primarily concerned about its cost. In fact, it is the cost that determines whether a potential buyer would go with the product. True, there is no one-size-fits-all formula to determine the “worth” of a business application, but as a software buyer, you want to make sure you get the best value for your money, without having to dig a big hole in your pocket.

Understanding the exact price of LMS system isn't easy as The overall cost of software includes the cost of license, subscription fees, training, customization, hardware, maintenance, support and other related services. It's essential to take into account all of these costs to gain an understanding of the system's "total cost of ownership."

What are the typical LMS pricing models?

There are primarily three common pricing models – Perpetual License, Subscription, and Commercial open source.

  • Subscription/Software-As-A-Service: - Relevant for Thinking Cap LMS
    Under this pricing model, the system is accessed over the Internet, as opposed to installed on-premises. The payment is made either on a per user basis or subscription basis. Ideally, customers are required to pay a recurring monthly fee until a specific period for using the tool. Subscription pricing model is more common with Software-as-a-Service (SaaS) apps.
  • Upfront cost for customization and integration is less compared to perpetual license cost because there is not much flexibility with SaaS systems in this area.
  • Recurring cost is greater as customers are required to make monthly payments as subscription fee. Additionally customers using premium support services must pay an extra fee.
  • All in all, the total cost of ownership in the both cases is almost the same and may span over a period of 7-10 years, though you may have to pay a higher perpetual license fee upfront. The total cost may vary from starter to mid range to enterprise level apps in both cases.
  • Perpetual license: - Not relevant for Thinking Cap LMS
    A common pricing model for on-premise applications, perpetual license requires a customer to pay an upfront sum to own the tool or other intellectual property on-premises for a fixed term.
  • Upfront cost involves the fee for installation, customization, integration with existing systems, besides perpetual license fee.
  • Recurring cost is low in this pricing model and may include cost for updates, maintenance, upgrades, and patches. Some vendors do offer premium support services, which come for an extra price.
  • Commercial open source: Not relevant for Thinking Cap LMS
    The customer can acquire the system free of cost without having to incur any upfront license fee. As a customer, you’re solely responsible for the ongoing maintenance, upgrading, customization, and troubleshooting of the application to meet your specific needs. You are on your own for providing end-user support, since you are not locked in with a vendor-supplied system solution.

How much it would cost to customize Thinking Cap LMS? (and is it relevant)

If you need specific features in your system catering to your specific business requirements, the vendor will charge customization cost, depending on your needs and feature requirement. Ideally customization cost is more complex to calculate compared to licensing cost.

Some apps allow you to easily combine data from multiple sources, without any complicated query requirements, while some others can be embedded into different applications to provide enhanced reporting. If you seek products that support customizable dashboards and predictive analysis to identity possible trends and facilitate decision making, you may have to pay higher for all the customization features.

Additionally, the following factors may affect the cost of customization:
  • User interface changes
  • Configurable dashboards
  • Data elements required for tracking
  • Forms to collect additional data
  • Dashboard, management and operational reports that are needed.
  • Workflows and how complex they are.
  • Forms to collect additional data.
Here are some questions to answer: How much customization is needed? How many system you want to integrate to? Does your company work like industry standars or has it's own customize processes? What kind of special reports are needed?

In order to calculate the cost of customization you can use the following estimates:

  • Minimal customization - integrate with 1-2 systems: $2,500
  • Standard customization - integrate with 3-5 systems: $10,000
  • Fully customized system - integrate with more than 5 systems: $25,000

Cost of data migration when migrating to Thinking Cap LMS? Relevant for Thinking Cap LMS

Most companies opt for data migration services from a vendor, which raises the cost of product ownership. If you choose to transfer data on your own, you can avoid paying the cost of data migration.
Data migration cost depends on the amount of data to be transferred, your current software, availability of migration tools, complexity of data, and gaps between the existing system and the new system.

If your data is stored in excel spreadsheets, then it may incur you a lot of time and money to migrate data from excel.
By involving a business services provider in data migration, you are asking them to offer additional services, for which you may have to pay extra.

As a rule of thumb the cost of data migration depents on how many records you want to migrate. Records can include number of Customers, invoices, financial transactions, products, versions, etc. Here is a list you can use as a rule of thumb:

  • 1,000 records: $500
  • 10,000 records: $2,500
  • 100,000 records: $10,000
  • 1,000,000+ records: $25,000

What is the cost of training for Thinking Cap LMS? Relevant for Thinking Cap LMS

As a buyer, you are required to pay extra for in-person training, though some vendors offer web-based solutions as part of the package. the cost may involve end-user training, video/self, group, department, and train the super users.

The cost is mainly derived from the approach that you select for your organization:
  • End-user training
  • Group/Department
  • Video /self
  • Train the trainer/super user

Here are some questions to answer: How many groups (different departments, usages, type of users) are needed?

In order to calculate the cost you can use the following estimates:

  • 1-2 Sessions: $500
  • 3-4 Sessions: $1,500
  • 5-7 Sessions: $2,500
  • 8-10 Sessions: $5,000

How Thinking Cap LMS pricing compared to alternarive LMS solutions?

When comparing Thinking Cap LMS to alternative systems, on a scale between 1 to 10 Thinking Cap LMS is rated 5.6, which is similar to the average LMS cost.
The two main competitors of Thinking Cap include UQualio and Easygenerator. uQualio is a cloud-based learning management system just like Thinking Cap. Thinking Cap is a product of Thinking Cap which began in 2001 and based in Canada and on the other hand uQualio is a product of uQualio which was started in 2017 and based in Denmark. uQualio offers support online whereas Thinking Cap offers support online, during the business hours and 24/7 live rep.

uQualio offers training via documentation, webinars, and live-online and in comparison Thinking Cap offers training via documentation, webinars, live online and in-person. Easygenerator is a cloud-based learning management solution just as Thinking Cap. Easygenerator is a product of Easygenerator which began in 2014 in the Netherlands, but Thinking Cap is a product of Thinking Cap which began in 2001 and based in Canada.

Easygenerator offers support online and during the business hours while Thinking cap offers support online, during the business hours and via a 24/7 live rep. Easygenerator offers training via documentation, webinars, and live-online and in comparison Thinking Cap offers training via documentation, webinars, live online and in-person.

How can the team at ITQlick help?

The science of TCO (total cost of ownership) may not be easy to calculate. If you seek to get a detailed info about the TCO, get in touch with ITQlick experts. Contact us today and get up to date, detailed quotes.

Author
Shlomi Lavi - admin

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.