Business services are activities that benefit a company but do not provide tangible products. These include information technology services that help with other business functions like procurement, shipping and finance. They are a subset of economic services that have become increasingly important as businesses evolve to meet their customer’s needs and expectations.
As a result, business services have become more critical to the success of many companies than ever before. In recent years, technology has made it possible to scale these services and make them more accessible for companies of all sizes and sectors around the world. This has helped make them more affordable, flexible and sustainable. The coronavirus pandemic is likely to accelerate these trends, as it has shown that specialized business services can be more cost-effective than in-house options.
There are five key characteristics that separate Business services from other types of businesses. Unlike physical goods, they cannot be touched, but are experienced by customers in a form that is unique to the service. This is why it’s so important to design a great user experience for your Business services. A good experience will create a strong brand, increase customer satisfaction and improve the chances of retaining customers.
Some examples of business services are maintenance professionals that repair equipment and facilities, translation and interpretation services for meetings and conversations, and day care services to help employees have a better work-life balance. Others include utility services, such as a business-to-business energy provider that charges companies based on their power consumption; event services, such as an industry conference; and supply related services, such as a website where companies can order office supplies.