Often times, when colleges and universities are seeking means for reducing costs, they do not analyze the cost of support services. Below are some ideas that might trigger some cost-savings ideas across the institution. An institution should explore these and other support service areas for potential cost-savings.
Allow libraries to retain their fines to replace books
Establish fixed-free contracts with outside legal counsel and closely monitor costs
Improve the effectiveness of litigation support functions through automation
Contract out duplicating wherever possible if less costly
Do all printing in one color and double-sided only
Increase charges for transcripts, with overnight delivery options
Evaluate cost-effectiveness of internal campus police
Renegotiate service contracts, shift work to in-house staff where cost-effective
Review consulting contracts for their necessity, reasonableness, and ability to recoup the costs
The surest way to be late is to have plenty of time. - Leo Kennedy
KH Consulting Group (KH) started this Know-How site in 2009 to create a forum for sharing ideas on effectively enhancing revenues and containing costs in higher education in the near and longer term.
KH has posted more than 500 ideas. You can join the forum at:
Note: The ideas shared are not prescriptive and will not work in all situations or at all institutions. Some of the ideas are tactical – quick victories to save money in easy ways. Others are strategic, requiring careful analysis before implementing.