This was an exciting week for all of us at Panopto and for our colleagues at Pearson. Representatives from both companies were in Denver at the American Society for Training & Development (ASTD) Annual Conference where we issued a joint press release announcing an expansion of our partnership.
Since May 2011, Pearson has been offering Panopto lecture capture software to clients in Higher Education along with their own world-class educational content, technology and services. This week, Pearson announced plans to integrate Panopto’s award-winning knowledge capture and management platform into their customized learning solutions for the professional market.
This collaboration between the world leader in learning and one of the fastest-growing software companies in the market will bring both deep experience and innovation to a market eager for comprehensive learning solutions. Pearson and Panopto will deliver online training and development products to corporations, professional associations, and government agencies around the world, offering a new standard of integrated technology, content, and service for corporate learning.
Our expanding partnership should be welcome news to the professional market, as investing in workforce learning has become more important than ever. It is now a key driver of business success. A recent study by the Society for Human Resource Management found that companies in the top quarter in training expenditure per employee per year ($1,500 or more) average 24 percent higher profit margins than companies that spend less per year.
Video has also become critical for both formal and informal training in the workplace. According to a 2011 Training Industry, Inc. report, “Enabling informal learning to make content more accessible to more learners is the top reason that learning professionals said that their companies adopted technology.”
Video use in the enterprise is clearly reaching a tipping point. Gartner estimates that by 2016, corporations will be creating over 16 hours of video per employee per month! That’s only 4 years away, but it shouldn’t be too surprising. As consumers, we have become accustomed to inexpensive, easy-to-use media solutions and are increasingly using video for research, entertainment, and communication. We no longer just admire simple, intuitive technology, we demand it.
The Pearson-Panopto partnership promises to deliver both sides of this same coin: to bring affordable, easy-to-use video capture and management solutions into the workplace along with more than a century of proven content, technology and service. Welcome to the professional market, Partner.