Shared Services Center

A center for shared services in a company is the entity responsible for executing and managing particular operational tasks, like human resources, accounting, payroll, IT, compliance, purchasing, legal, and security. The shared services center is often a spin-off of the corporate services to distribute all operational types of jobs from the corporate headquarters, which has to concentrate on leadership and corporate governance type of role. As shared services centers are often cost centers, they are quite cost-sensitive in their headcount, labor costs, and location selection criteria.