Spent a lot of time evaluating several LMSs and know what customer is looking for as a return. My experience - content is not king in an LMS if it is generic. People who are in a hurry want a catalogue of 200 courses. If they are generic courses they won't generate the returns they're looking for. Improve market position by improving skills.
Content is worthless.
The spending in training is not very well managed. Multiple training groups, vendors, philosophies. Hard for large organizations to know that these inefficiencies exist. Duplicate efforts, re-purposing content, etc. Only a few players will be remaining.