Shared Services

Shared Services is a business model where specific operational functions or support services are consolidated into centralized units and shared among multiple business units or departments within an organization. These centralized units, known as shared service centers, provide specialized services such as human resources, finance, IT support, procurement, and customer service to internal clients across the organization. By centralizing these functions, organizations can achieve economies of scale, standardize processes, improve efficiency, and enhance service quality while reducing costs. Shared Services often leverage technology and automation to streamline operations and deliver consistent and cost-effective services to internal stakeholders.