略す and 省く: abbreviating a name and leaving material out
Compare deciding on a three-character organization-name abbreviation with omitting an explanation or unnecessary steps. The verbs can overlap in omitting detailed explanations.
Shortening or omitting
略す (りゃくす) means abbreviating or omitting. 「長い団体名を三文字に略すことにしました。」 says a decision was made to shorten the long organization name to three characters.
「時間がないので詳しい説明は略します。」 says the detailed explanation will be omitted because time is short. 略す is not confined to abbreviating names.
Removing content or unnecessary steps
省く (はぶく) means omitting or removing material. 「時間がないので、詳しい説明は省く。」 says the detailed explanation is to be omitted because time is short.
「無駄な手順を省くことで作業が早くなった。」 says removing unnecessary steps made the work faster. That example explicitly states a result of the removal.
Overlap and the scope of a decision
The two examples omitting detailed explanations overlap in use. Also compare 略す for a shortened name and 省く for removing unnecessary steps.
A decision to use three characters does not establish a completed name change or revisions to every occurrence. Three characters are not a required length for all abbreviations.
What is to be shortened, and to what length, in 「長い団体名を三文字に略すことにしました。」?
Show the answer and why
The long organization name is to be shortened to three characters. The target and length of the decision are stated, but completed renaming or text revisions are not.