Shared services centralise business functions, such as finance, HR, or IT, within an organisation to serve multiple departments or locations. Outsourcing, on the other hand, involves hiring an external company to handle these functions. Shared services remain in-house, giving more control and alignment with company goals.
What is shared services and outsourcing?
Many organisations have moved away from the traditional model of a core offering supported by distinct finance, human resources and IT functions. This helps to achieve economies of scale and drive business process improvements. It has also created some exceptional opportunities for accountancy-qualified professionals:
- Shared services: In a shared services model, the finance, human resources and IT teams are united into a single department. Sometimes called ‘global business services’, this lets accountancy professionals broaden the scope of their role and even move into other fields.
- Outsourcing: Some organisations downsize or remove their own in-house support functions to engage with external service providers in the financial services sector. And because these providers tend to outsource for several organisations, working for one gives you access to a huge amount of variety. It’s also an excellent model on which many accountancy professionals build their own business.
Consider a role in shared services and outsourcing if you're looking to quickly expand your skillset 'on-the-job' and/or future-proof your career. The vast range of different organisations, teams, processes, challenges and technologies you'll be exposed to will indefinitely expand your knowledge keeping you ahead of the curve - and your peers.
Roles in this sector
Explore some of the roles you could undertake in the shared service and outsourcing sector, alongside more general information about the wider skills needed for accounting and finance:
Frequently asked questions
Common entry-level roles include accounts payable/receivable clerk, finance analyst, payroll administrator, or general ledger assistant. These positions provide exposure to core business processes and reporting.
Important skills include attention to detail, organisation, problem-solving, basic accounting knowledge, and proficiency with finance systems. Communication and the ability to work with different departments are also key.
Shared services roles often involve repetitive but structured processes, whereas traditional finance roles in industry or public practice may focus more on analysis, strategy, or client-facing work. Shared services can provide fast exposure to multiple areas of finance within one organisation.
Yes. Many finance professionals use shared services as a stepping stone, gaining process knowledge and operational expertise before moving into finance manager, business analyst, or financial controller roles.
Automation and AI are streamlining routine tasks such as invoice processing, reconciliation, and reporting. This allows employees to focus on analysis, process improvement, and value-added activities.
Pros include structured training, exposure to multiple finance processes, and career stability. Cons can include routine work, less strategic decision-making initially, and sometimes limited client-facing experience.
Entry-level salaries typically range from £22,000–£30,000 in the UK. With experience and progression to senior analyst or management roles, earnings can reach £40,000–£60,000, depending on the company and sector.
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