The Business Services Industry

The business services industry encompasses a wide range of businesses that provide non-financial assistance to other companies. These support activities can include administrative tasks, marketing and consulting services, supply chain management, logistics, waste handling, human resources, and security services. Companies use these business services to operate more efficiently and effectively, allowing them to focus their efforts on the core products that they make. Outsourcing is also a common practice within the business services industry, which allows companies to obtain professional services without having to invest in employees or equipment.

Business services differ from products in that the production and consumption of a service happens simultaneously, unlike physical goods that can be stored for later use or sold to another buyer. As a result, business services require a high level of customer service and a well-trained workforce to manage the complexity of the product.

To be successful, a business service must be designed and developed with the customers in mind. Unlike the manufacturing of a product, which requires a large upfront investment in plant and machinery, a business service company can only produce as many units as its customers are willing to consume at an attractive price.

Because a service can be performed in any location with an internet connection and a computer, it is very difficult to limit the geographical area where it can be delivered. This has made the business services industry one of the most global industries in the world, with a growing number of businesses focusing on offering their services to customers worldwide.

The growth of the business services industry has been driven by a number of factors. The increased affluence of consumers has led to greater demand for services such as lawn care and carpet cleaning, while changing work force demographics have created greater demand for travel agencies and resorts. The emergence of the “product as a service” model has seen the development of software that is offered for a recurring fee together with operations, maintenance and support. The same concept has been applied to infrastructure such as computing, with data centers being sold as a service instead of purchasing hardware and software separately.

A number of different types of business services are available, ranging from credit card processing to virtual private network (VPN). The type of business service required depends on the nature of the company and its needs. For example, an online retailer might need a POS system that enables customers to pay using their credit cards. A consulting firm might need a virtual meeting service to conduct meetings with clients who cannot be present in person.

To access a list of all the available business services, click the Business Services page pictured below. Then click the star icon next to a service to add it to your favorites. Favorite services appear at the top of the Business Services page by default and are included in the multi-sort function. You can also create a custom Business Services page based on your organizational structure.