Early investment in e-learning has been based mainly on maximising cost-efficiencies and effectiveness. In this regard, e-learning has shown much promise in helping firms to deliver training more cost-effectively. The intangible benefits, particularly associated with more advanced-level training and development (T&D), are much more difficult to quantify but, in the long term, may have more impact on business performance than applications aimed at cutting the costs of training. When compared to initial predictions, the scale and complexity of challenges that e-learning presents have been largely miscalculated and those responsible for T&D are experiencing a steep learning curve.