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Shared services
Shared services are more than consolidation and centralization of the similar activities in one location. Shared services provides the two type of functions such as streamlining and convergence to ensure that they deliver the organization services which are required of them as effectively and efficiently as possible.
The shared service can take different kinds of commercial structures and it contains the six basic commercial structures such as a joint initiatives, outsourcing, lead department, unitary, joint venture and strategic partnerships. All these six basic commercial structures are explain below:
Joint initiatives
To set up and operate the shared services, it takes the agreement between two or more organizations.
Outsourcing
In the outsourcing, the third party provider takes the full responsibility for the operating and managing the service.
Joint venture
The joint venture is basically a legal existance between the two providers such as third party and organization.
Unitary
In the unitary, a single organization takes the two types of business services such as centralizing and consolidating.
Lead department
In the lead department, there are also two types of business services but it will be shared by other organizations where as the unitary can't shared the other organization and the two type of business services are consolidating and centralizing.
Strategic partnerships
In the strategic partnerships, the third party provider is generally including the shared services for a range of services.
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