shared service
"Shared services" consolidate functions like IT, HR, and finance into a central unit to optimize efficiency and reduce costs within an organization.
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Definition
C1Business
(corporate)A centralized unit that provides support services to multiple departments within an organization to improve efficiency and reduce costs.
Example
- The company implemented a shared service model for its IT and HR departments to streamline operations.
- By using shared services, the organization was able to cut costs significantly while maintaining high service standards.
Similar
Terms that have similar or relatively close meanings to "shared service":
public servicefull serviceextra servicein servicesecurity servicemobile servicecommunity servicecustomer servicenational serviceroom servicepublic utilityservice charge