Business services is a broad term that encompasses many different types of activities. These include consulting, marketing, and IT services. This type of work is valuable to businesses because it allows them to focus on their core operations and leave the more mundane tasks to professionals. Business services are a vital part of the economy and can be found in nearly every industry.
Most people are familiar with financial services, which include banking and investing. However, not as many are familiar with the business services sector, which encompasses a major portion of the commercial world. Business services are the activities that help a business operate, reduce costs, and generate more revenue. They also provide a wide range of other benefits that goods cannot.
The responsibilities of a business service company can be categorized into three main areas: providing expertise, providing convenience, and reducing costs. These services can be offered to end customers (B2C) or to other businesses (B2B). For example, a business can outsource its shipping services to a third party, which will save money and time. Other examples of business services are cleaning, catering, and childcare.
Successful business service companies have a system of action in place to ensure consistency and efficiency in delivery. This includes documenting the value of a business service and communicating this with customers. This can be done through a service catalog or through a customer self-service portal. It is important to understand that this communication must occur in tandem with establishing a baseline of processes. This can be done using a framework such as ITIL, IT4IT, COBIT, or TOGAF.