shared services

Shared services refer to a centralized approach where multiple departments or organizations use the same resources or functions to improve efficiency and reduce costs. Instead of each department having its own staff for functions like IT, human resources, or finance, these services are consolidated into a single unit that serves all. This allows for streamlined processes, better resource management, and often enhanced service quality since specialized teams can focus on specific areas. Ultimately, shared services help organizations save money while improving collaboration and innovation across different parts of the business.