English

Noun

shared service ‎(plural shared services)

1. An internal business organization which provides support services which are "shared" across multiple business units or functions.
2. A virtual or physical team whose process expertise is shared across multiple business units or functions, (rather than duplicating staff in each business unit) to execute business processes, in a consistent manner, for optimal resource efficiency, cost and service performance.

References

• Bozynski,K., "Shared Services Strategy Communication Package", April 2007.
• Greg Hackett of The Hackett Group is credited with originally defining this term.