shared services model

A shared services model is a business approach where an organization centralizes certain support functions, like human resources or IT, to serve multiple departments or divisions. Instead of each department having its own staff for these functions, they share a common team that provides services more efficiently and consistently. This model reduces costs, eliminates redundancy, and improves service quality. By consolidating these services, organizations can focus on their core activities while benefiting from expert support and streamlined processes.