Business services are the actions/activities that help businesses, but don’t always result in a tangible product. They make up a large portion of the commercial world, and can range from marketing, to market research, to staffing services.
Businesses need a variety of business services to run, such as banks for access to funds; insurance companies to protect against risk; transport companies for delivering raw materials and finished goods; and telecommunications and postal services to keep in touch with customers. Business services also include the services provided by a wide variety of third-party logistics firms, such as warehousing and fulfillment for online sales.
Some of the most important business services are those that support a company’s core products or activities, such as IT service management. These business services help ensure that a company’s IT infrastructure is aligned with the needs of the business and its customers, which ultimately supports the ability to be profitable.
Another critical business service is professional or consulting services. These services can be offered in-person at a client’s location, or remotely via phone, video conference, or web chat. Business consultants can help identify the issues, and/or opportunities, for a business, as well as advise on how to address them.
In recent years, several new trends have emerged in the business services industry. For example, many consumers are seeking remote services that can be delivered through web platforms or systems, such as virtual bookkeeping, telemedicine, or online coaching. People are also demanding more sustainable and personalized services, such as eco-friendly cleaning or green energy consulting.