Business services are the activities that support a business but do not result in the production of tangible goods. They include financial, transportation, warehousing, communication, insurance and more. Business services are essential to the operation of any business and allow businesses to focus on their core activities. The industry is undergoing rapid change due to the digitalization of services and a globalized market. It is also transforming as organizations seek to optimize their operations through outsourcing and new communication technologies.
The business services sector is vital to the economy, accounting for 11% of EU GDP in 2018. It is also a key component of innovation and growth through business-to-business supply chains and service platform development. However, business services continue to face challenges including a relatively low average productivity and persisting legal barriers to trade. New internal market legislation and policy actions are addressing these issues to foster competitiveness in the sector.
There are many types of business services available, including consulting, software development and event management. These services help companies save time, money and effort by providing them with the support they need to grow their business. These services can be purchased from companies that specialize in a particular field or they may be provided in-house by employees of the company. Depending on the size of the business, the types of services needed can vary.
Unlike product-based businesses, business services do not have to invest as much capital in a production line. This means that a business can operate with less overhead and more resources. Moreover, it can focus on delivering quality products to its clients. Furthermore, service-based businesses tend to be more exclusive. They create their services according to the specifications of their clients. This allows them to differentiate themselves from their competitors.
The Office of General Services (OGS) created the Business Services Center in 2012 to increase efficiencies, lower costs and provide support to New York State agencies. The BSC is a central hub for processing transactional human resource and finance services that are common across agencies. The BSC is staffed by a dedicated team of professionals that strive to achieve measurable performance goals and deliver exceptional customer service.
Salesforce is the leading CRM platform for the business services industry. It enables businesses to unite their teams and connect with their clients through a single source of truth. This gives them the power to deliver engaging data-led experiences for every customer. This is especially important in a business services industry where client data is critical to success. Salesforce’s powerful CRM software brings marketing, sales, commerce and customer service together in one platform to empower businesses to be more effective and efficient than ever before.
