Global businesses need more than cost cutting strategies to remain competitive. The shared services model offers a comprehensive approach to achieving efficiency, cost reductions, higher quality, and increased service levels. - By Debra Jenkins

The shared services model, in simplest terms, refers to the consolidation of business services that are used by various constituents, including internal customers and other businesses. Global corporations are successfully using shared services in administrative areas – like Human Resources, IT, finance, law and procurement – to achieve a higher degree of internal efficiency, improved customer service, innovation, cost savings, and long-term value generation.