Business services are various tasks and activities that assist businesses but do not deliver a physical product. These include information technology, which supports other business services like procurement and finance. In addition, warehousing is a type of business service, as it is used by companies to store products before they are shipped to customers or clients.
A company that offers accounting services, for example, may help a small business manage its books. This can free up the time of a company’s employees to focus on sales and marketing. In addition, a company that provides software services can upgrade and enhance the security features on a client’s technological devices.
These types of business services can be provided either onsite or remotely, and many are available through outsourcing companies. Some of these businesses provide services for a variety of industries, including manufacturing, retail and technology. However, others specialize in a particular industry. For example, some of these businesses provide specialized services to companies in the healthcare and insurance sectors.
To succeed, a business that offers business services must get four things right. First, it must design its offering. The challenge here is to shift from the perspective of a product designer, who thinks about what features consumers will value, to a service designer who looks at the experience that customers want to have. Then, they must make the experience as easy and as enjoyable as possible, which requires a commitment to customer service. Finally, the business must price its services competitively in order to be profitable.