Higher education institutions today face financial challenges that threaten to diminish their potential for long-term success and continued organizational growth. However, feeling the pressure of strained finances should never distract higher education institutions from their core purposes, aspirations and customers’ needs.
The shared services model can contribute to a stronger financial footing, a greater ability for higher educational institutions to meet their missions and, ultimately, new efficiencies. But while the model is only just beginning to make headway in the area of academia, it has already built a convincing and growing track record of its effectiveness in reducing costs, developing new cohesion within universities, and refocusing attention on colleges’ and universities’ fundamental purpose of quality education and research.
This Accenture point of view explores the growing movement toward shared services within higher education, including how the model fits within the unique mission and attributes of the higher education environment.