Business services are activities that benefit companies without producing physical goods. These services provide marketing, production, safety, cost and convenience benefits for businesses.
Information technology, a business service, supports multiple other business services like procurement, finance and shipping. It aligns IT assets with the needs of a company’s employees and customers, supporting business goals and facilitating profitability.
Tech support, a business service, helps solve technical issues and ensures that computers and networks run smoothly. It also allows firms to quickly resolve problems, allowing employees to remain productive.
Insurance, a business service, is an important part of a company’s financial strategy as it reduces an organization’s liabilities and expenses. It’s necessary for businesses of all sizes to have some sort of insurance, whether it’s for employee health and life insurance or property and business practices.
Real estate, a business service, is another way that organizations reduce their costs. Many companies prefer to rent their workspace rather than owning it, which requires a real estate service to find space and negotiate rental agreements.
Personal, a business service, is an important aspect of an employee’s work-life balance. It includes services such as in-office day cares, which help employees maintain a better work-life balance and save money on child care costs.
Business services are a significant source of revenue for most businesses. They allow a company to focus on its strategic-based internal goals while outsourcing some of the labor that needs specific expertise.