What Are Business Services?

Business services

Business services are industries that support the operations, infrastructure and productivity of a company. They include such diverse sectors as information technology (IT), finance, procurement, shipping, warehousing and insurance. Business service industry jobs are varied and offer a high level of flexibility for career advancement.

These industries are a key element of the global economy and provide a significant source of employment across all economic sectors. They contribute 11% of the European Union’s GDP. They also play a vital role in the creation of new combinations of goods and services through “servitisation”, allowing companies to offer more value-added products and solutions to their customers.

The business services industry encompasses a variety of jobs in the specialized fields of IT, financial management and human resources. Most of these jobs require a bachelor’s degree, though the specific qualifications vary by industry. The IT industry, for example, requires a computer science or information technology degree. In the field of finance, a degree in accounting is required. Professionals in the human resources field need a bachelor’s degree in business administration or a related discipline.

What are the most important characteristics of business services?

The main characteristic of business services is that they don’t result in the production of tangible or material goods. The fact that they are intangible means that they cannot be stocked like inventory for use at a later date. It also means that the customer and provider of the service are often involved in the process simultaneously. This interaction may influence the quality of the service provided.

Another important feature of business services is that they are not connected to any physical production or distribution processes. This distinguishes them from other types of industrial services. They can be delivered in a wide range of ways, from a call center to a mobile app or through an online portal.

The Office of General Services created the Business Services Center to increase efficiencies and reduce costs by streamlining transactional HR and finance transactions that are common across agencies. These efforts have helped to support employees, reduce paperwork and allow agencies to focus on core mission activities.

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