In search of efficiencies and effectiveness demanded by a changing marketplace, universities are rethinking their IT services and are considering shared services options. While studies suggest that a wide range of IT services could be shared across Higher Education Institutions (HEIs) offering many potential benefits, there has been little empirical evidence of the specific benefits that apply to this sector and their relationships. A deeper understanding of shared services benefits will inform decision making in practice while progressing research in this field. Through a series of case studies of shared services in the Malaysian Higher Education sector, 5 key categories of benefits are empirically explored: (i) Economic, (ii) Technical, (iii) Process Improvement, (iv) Strategic and Organizational, and (v) Political benefits. The study identified specific sub-themes for each of these broad, generic benefit categories. In addition, potential relationships between these categories are also investigated to form an early theoretical framework on the complex associations between these different benefit categories that can potentially contribute to the wider shared services research.