Business services are the support activities that help a company operate without producing or selling a tangible product. They encompass a broad range of activities, from the work done by a notary public or sign painter to the consulting advice offered by investment banks regarding mergers or the top-level strategy of a company. A company may outsource some of its business services to external providers, which can offer specialized expertise or technology that the firm does not have in-house. This can save time and money while freeing employees to focus on core functions.
A common type of business service is IT-business alignment, which helps align a company’s IT assets with its goals and facilitates the ability to deliver value to customers. Other types of business services include translation and interpretation, which allow companies to reach clients who speak different languages.
Whether the service provided is technical or personal, it needs to be of good quality. Customer satisfaction is key for all types of business services, and the impact of poor service can be felt by both the client and other customers. For example, if a customer dithers at a fast-food counter, it can make the line of other customers slow down.
Workers in business services often face unique challenges, including long hours and the potential for workplace injury or illness. As a result, many companies are turning to new technology to streamline their business services and boost productivity. These technologies are providing opportunities for innovation and enabling the sector to take advantage of the’serviceitisation’ of the economy.