GYT

Shared services create a value base with reliable yet affordable services. They simplify the level of customer experience, finding ways to increase revenue and reduce costs.
Cost centers that prioritize internal operational efficiency and cost reduction are often combined with shared services, and these centers can host revenue-generating initiatives. Leveraging skills, resources and abilities to develop new revenue streams or improve existing ones is one way to monetize shared services. Here are few examples.

Product or Service Innovation: Identify openings to introduce and develop new products or services that align with the cost center's core capabilities. These can be retailed to internal or external guests, creating new profit aqueducts. 
Internal Chargeback Mechanisms apply internal chargeback systems where business units or departments pay for the services handed by the cost center. This approach allows the cost center to recover its costs.
Process effectiveness Consultancy. 
Offer consultancy services to other departments or business units within the association to automate their processes and functional effectiveness.
Cost-Effective Procurement Services 
influence the cost center's in procurement to negotiate favorable deals with suppliers.

Effectiveness- Driven Outsourcing 
Explore openings to expand the cost center's operations to handle specific tasks or functions for other departments. This can lead to increased effectiveness and cost savings for those departments, generating profit for the cost center. 

Transforming a cost center into a profit- generating reality requires a strategic approach, invention, and a deeper understanding of the cost center capabilities. 

Value Chain Analysis describe and analyze all the activities from the start of production to finish product. It is identifying how each process brings value to the product that will contribute to the company's advantage.
 
Example: In a cellphone manufacturing company, value chain are the activities like product sourcing, production of mobile phones, distribution, marketing, sales to after sales service. Through value chain analysis companies will pinpoint areas on efficiency improvement, waste reduction so that the business can produce the most value for the least possible cost.
 
Process Mapping is to visually and analyzing workflows and processes. Tools used such as flow chart and workflow diagram. It provides details view of the individual steps in the process flow.

Example: Cellphone manufacturing company used VSM to visualizes the process steps. This will identify if the company is meeting the customer needs.  Through process mapping, you can break down each and analyze each step, identifying value added and non-value-added activities as well as areas of improvement.
 
Value Chain Analysis and Process Mapping are both valuable in identifying areas for improvement and optimizing business operations.