Shared Services

Updated 4 years ago by Darshan Patel

Shared Services is the provision of a service by one part of an organization or group acting as a central servicing unit. It often applies to activities such as finance, administration, human resources and facilities management, where there are economies of scale and scope, and which had previously been carried out individually by every operating unit. The funding and resourcing of the centralized service is shared, and the providing unit or shared service centre effectively becomes an internal service provider. Accounts payable management and invoicing are often carried out through shared services.

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