Business services are all of the activities that support a company but do not involve producing physical goods. These activities include information technology, procurement and finance. Other specialized business services may include marketing, accounting and consulting.
The business services industry is one of the largest service sectors, contributing 11% to EU GDP. It includes a wide variety of jobs, from technical roles such as engineering and architecture to more customer-centric jobs like legal or employment services. Its value comes from intangible elements such as knowledge, management and service. It is an essential component of the’serviceitization’ of Europe’s economy, enabling companies to provide new combinations of products and services.
There are five characteristics of a business service: it is a transaction, it can be outsourced, it has an intangible nature, it relies on the customer to generate demand and it is not stored for future use. These characteristics are important to consider when evaluating an opportunity to enter the business services market.
Businesses can outsource a number of their business services, such as IT infrastructure, payroll, HR management and marketing. This helps them reduce costs, focus on core competencies and improve efficiency. It also allows them to access expertise that they might not be able to afford in-house, such as software development or data analytics. However, outsourcing a business service must be done with careful consideration to the impact on quality and cost.
A service provider must be able to identify the needs of its customers and develop a package of services that will meet those needs. This process often requires a detailed consultation, identification of service level agreements (SLAs), and clarification of deliverables and associated metrics. In addition, they must be able to negotiate with their customers and ensure that they are delivering the best value for money.
To be successful in the business services industry, you need to have excellent communication skills and be able to work in fast-paced environments. This is especially true in a job that requires you to deal directly with customers. You should also be able to adapt to changing circumstances quickly and efficiently. In many cases, working in the business services industry involves working with teams of people, so it is important to be a team player.
In some positions, such as administrative support or janitorial, you only need a high school diploma and good computer skills to qualify. However, for more specialized business services jobs, such as an IT engineer or consultant, you will need a bachelor’s degree in your field and extensive relevant experience.
In SL1, you can select one or more business services and make them your favorite by clicking the star icon. This will display them at the top of the Business Services page by default. You can also create custom dashboards for your favorite services by selecting them and then clicking the Create Dashboard icon. To delete a service from your favorites list, click the star icon again.