It is my business and they are my people. Imagine an office of your own in remote location that works on a different time zone. Shared Services are the convergence and streamlining of an organization’s functions to ensure that they deliver the organization the services required of them as effectively and efficiently as possible.

Rather than having a department i.e. HR devolved over a number of offices, a shared service is the centralizing and convergence of these. This often involves the centralizing of back office functions such as HR and Finance but can also be applied to the middle or front offices.

This model of offshoring requires an awareness of cultural differences and need to draw a timeline for transition period.

You enjoy flexibility and control of in-house staff at your offshore back office. You can set your priorities, define your own process, and choose allocation of people for multiple projects. This gives you freedom to utilize resources your own way with a fixed cost basis.

The bottom line is growth of your business, you need not worry about staff benefits, payroll, personnel management, pensions, health and safety and other areas. The vendor can do it all for you, and this enable you to concentrate more on developing your business.