Business Services

Business services

Business services provide professional support in a commercial context. They do not produce a tangible product, but they assist with commercial activities and support an organization’s trade operations. Services include marketing, consultation, logistics (including travel and facilities), waste management, shipping, administration, and staffing services. They can also encompass a wide range of personal services, such as translation, training, and personal health care.

Most of these services are provided directly to customers. In some cases, they enable the customer to achieve a goal that they cannot accomplish independently due to a lack of expertise or resources. This type of service is known as business-to-consumer, or B2C.

Financial services are another important class of business services. These can help companies fund expansions or acquire new equipment. They can also be used to cover general operating expenses. Some examples of financial business services are credit cards, business loans, and merchant cash advances.

Other types of business services are more indirect, and involve the provision of a benefit to the company itself rather than to a specific individual. This is often the case with employee amenities, such as gyms, relaxation areas, and transportation services.

One way to leverage the potential value of a digital business service is to connect it to a system of engagement and action, such as a customer service portal or supplier portal. This allows the business to communicate about and offer the service in an easily accessible manner. It also enables the organization to use diagnostic metrics to test hypothesis around trends in performance, cost, or satisfaction and spot opportunities for improvement.