Why Do Companies Use Shared Services?

Companies use shared services to consolidate and streamline support functions like HR, finance, and IT, reducing costs through economies of scale and standardizing processes. By centralizing these services, organizations can improve efficiency, enhance service quality, and focus on core business activities, fostering agility and competitiveness in the market. Additionally, shared services enable better resource allocation, knowledge sharing, and scalability, allowing companies to adapt more effectively to changing business needs and market conditions.