Often there is confusion between outsourcing versus shared services, with most people considering them to be same. Outsourcing is the process of using a third-party vendor to provide services to your business based on a contract. While shared services are multiple services within the one organisation. Their focus is to create centres of excellence. All services provided by outsourcing and shared services are similar such as bookkeeping, payroll, finance, management reporting, business intelligence and consulting.
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