Acadient Announces AcadientExpress: a New Cost Effective System to Pay for Online Education

Monday 2 February 2004 20:43 CET | News

Acadient has launched AcadientExpress, a unique debit program that allows companies to pay for the actual number of employees who initiate study.

AcadientExpress enables companies to begin with an initial debit deposit of the total tuition based on the estimated number of students. The debit deposit amount will be drawn down as students enter the program. Companies in the financial services industry demand the most open and scaleable applications to manage their human capital challenges, such as regulatory compliance management. To manage their business-critical needs, AcadientExpress is deployed on the Saba learning platform, delivering rapid implementation, content access, industry functional knowledge, certifications, and continuing education requirements. Companies receive regular account summaries detailing the progress of each employee that enters the program. Reports include the number of courses completed, individual scores, and rates of progress per course. The cost per student can be as little as a few dollars per day. According to a 2002 American Society of Training and Development (ASTD) survey of more than 375 major corporations, companies spend between one and three percent of their total payroll on training. Some benchmarking companies spend as much as four percent and education budgets have increased despite the U.S. recession. In addition, the survey showed the average amount spent on training is more than $700 per employee per year -- and in leading companies, more than $1,400 per employee per year.

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Categories: Payments & Commerce | Payments General
Countries: World
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