Business services are a set of activities that help businesses maintain operations without supplying physical products. These activities can include marketing, training and even accounting support. Using business services helps companies save money by outsourcing tasks that do not fall within their scope of expertise or capacity.
There are a variety of business service providers available, including software and logistics companies. A company may use a third-party logistical firm to take care of eCommerce fulfillment, for example. In addition, they might use a software development service to create or update security features on devices that employees use for work such as computers and phones.
Other types of business services can include translation and interpretation services. These services can be used in seminars, conversations or meetings to encourage inclusion and overcome language barriers. Tech support workers can also be categorized as a type of business service, as they help individuals and companies resolve technical issues quickly and efficiently.
Insurance services are another business service. These include life and health insurance for employees as well as property and liability insurance for business practices and assets. In addition, a company can hire a landscaping service to improve the appearance of the business premises.
Although service businesses have different needs than product businesses, many of the same principles apply to both. By considering four critical elements — design, implementation, value and control — managers can craft a profitable service business.