What is SSC in Accounting?

SSC in accounting stands for Shared Service Center, a centralized unit within an organization responsible for providing common accounting services to multiple departments or business units. These services typically include tasks such as accounts payable processing, invoice management, and financial reporting, aimed at achieving efficiency, standardization, and cost savings. By centralizing accounting functions in an SSC, organizations can streamline processes, optimize resource allocation, and enhance control and compliance measures, ultimately improving overall financial performance and operational effectiveness.

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