#265 - Donniel S. Schulman (Shared Services: Adding Value to the Business Units)

Million Dollar Stories with Mike Fallat

Mike interviews Donniel S. Schulman
Welcome to "Shared Services: Adding Value to the Business Units," the podcast dedicated to exploring how modern organizations enhance efficiency, reduce costs, and drive innovation through shared services. In this series, we dive deep into Donniel S. Schulman’s influential book, "Shared Services: Adding Value to the Business Units," a comprehensive guide on how shared services can transform business operations and deliver substantial value.
In "Shared Services: Adding Value to the Business Units," we unpack Schulman's insights and explore the principles and practices that underpin successful shared services implementations. Each episode delves into different aspects of shared services, offering listeners practical advice, expert interviews, and case studies that highlight the transformative potential of this business model.
We kick off the series by defining what shared services are and why they matter. Schulman emphasizes that shared services involve consolidating and optimizing support functions—like HR, IT, finance, and procurement—into a centralized unit that serves multiple business divisions. This approach not only streamlines operations but also fosters a culture of continuous improvement and customer focus.
Our early episodes explore the strategic rationale behind adopting shared services. We discuss how companies can achieve cost savings through economies of scale and process standardization. Schulman’s book provides numerous examples of organizations that have successfully implemented shared services, and we bring these stories to life, examining the specific strategies they used and the challenges they overcame.
In subsequent episodes, we delve into the key components of setting up a shared services model. Schulman outlines a step-by-step approach, from gaining executive buy-in and aligning with business goals to designing the service delivery model and selecting the right technologies. We offer practical tips on change management, governance structures, and performance metrics to ensure your shared services initiative delivers real value.
A crucial aspect of shared services is the technology that enables it. We dedicate episodes to discussing the role of enterprise resource planning (ERP) systems, cloud computing, and automation in enhancing service delivery. Schulman highlights how these technologies can drive efficiency and accuracy, allowing organizations to do more with less and respond swiftly to changing business needs.
People are at the heart of any successful shared services organization. In our podcast, we explore Schulman’s insights on talent management, focusing on how to attract, retain, and develop the right talent. We discuss the importance of building a customer-centric culture within the shared services organization, where service excellence and continuous improvement are ingrained in the workforce.
We also examine the challenges and pitfalls associated with shared services. Schulman candidly discusses potential obstacles such as resistance to change, integration issues, and maintaining service quality. Our episodes provide strategies for navigating these challenges, including stakeholder engagement, robust communication plans, and ongoing training and development.
In our final episodes, we look at the future of shared services. Schulman’s book anticipates trends such as increased digitalization, the rise of global business services, and the growing importance of data analytics. We explore how these trends are shaping the evolution of shared services and what organizations can do to stay ahead of the curve.
"Shared Services: Adding Value to the Business Units

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