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Shared Services & Outsourcing Network

Definition: A Shared Services & Outsourcing Network (SSON) refers to a collaborative framework where multiple business units share services like HR, finance, and IT, often outsourced, to streamline operations and reduce costs.

Key Components:

Process Standardization: Consistent procedures across all departments.
Centralized Services: A single hub for shared functions.
Outsourcing Partnerships: Third-party providers managing shared services.

Benefits:

Cost Efficiency: Reduces duplication of efforts across departments.
Scalability: Easily adapts to changes in company size.
Improved Focus: Business units can focus on core functions.

Future Trends:

AI-Enhanced Services: Use of AI to automate routine tasks.
Global Networks: More cross-border shared services.
Flexible Outsourcing Models: On-demand outsourcing partnerships.

Other Terms:

No glossary files available.