Debunking 5 Myths: How Feasible is a Shared Services Model in Higher Ed?
and by Ronn Kolbash, Assistant Vice President of Shared Services, University of Chicago With rising tuition, research dollars shrinking, and state budget allocations being reduced, the higher education industry has important cost issues to address. To manage this, a growing number of colleges and universities are adopting a shared services model for various activities and transactions. However, the higher education sector is relatively new to the adoption of such a model, and there are already a number of frequently voiced myths that, if believed, can leave an institution hesitant to implement shared services. These myths need debunking. Myth 1: We’re unique. We’re different from the corporate sector. In some ways yes, and in some ways no. While there are many facets of higher education that are “unique” or “different,” and while our core mission is different, our business activities are similar. Like any other organization, higher education must hire and pay staff, submit tax filings, reconcile accounts, manage budgets, purchase and pay for goods and services, reimburse employees, monitor compliance, etc. And like any other organization, higher education wants to direct the majority of their human and financial resources to their mission-critical work (in our case: teaching, research, and practice). While I […]

