shared service

English

Etymology

Attributed to Greg Hackett of The Hackett Group. (This etymology is missing or incomplete. Please add to it, or discuss it at the Etymology scriptorium. Particularly: “Source for this?”)

Noun

shared service (plural shared services)

1. (business) An internal business organization providing support services that are shared between multiple business units or functions.
2. (business) 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.