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We found 2 dictionaries that define the word shared service:

General (2 matching dictionaries)
  1. shared-service: Wordnik
  2. shared service: Wiktionary

Definitions from Wiktionary (shared service)

noun:  (business) An internal business organization providing support services that are shared between multiple business units or functions.
noun:  (business) A virtual or physical team whose process expertise is shared across multiple business units or functions (rather than duplicating staff in each business unit) to execute business processes, in a consistent manner, for optimal resource efficiency, cost and service performance.

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