sharedservices
nounUK /ʃɛəd ˈsɜːvɪsɪz/
US /ʃɛrd ˈsɜrvɪsɪz/
Shared services are jobs like paying bills or fixing computers that one team does for many parts of a big company.
The company moved its payroll and IT help desk into shared services to save money.
OTHER MEANINGS
2. A business model where several departments use one common team instead of each having its own.
By adopting shared services, the hospital cut duplicate administrative costs.
3. A single unit that provides a service to multiple groups within an organization.
The shared services team handles human resources for all five regional offices.
4. The combining of similar tasks from different teams into one central group.
Finance shared services now processes invoices for every branch.