Business Services

Business services are activities that benefit companies without providing them with physical products. They include marketing, production, safety, cost and convenience activities that companies rely on to keep their businesses running smoothly.

These services can include a wide variety of jobs and industries, but they all have the same basic goal: to provide support to other businesses. Some of the most common business services are accounting, legal, IT and advertising.

Shared services:

This is when a company consolidates its support functions into one organization or service provider to serve the corporation as a whole. This can save time and money because it reduces duplication of effort and improves overall service.

Typically, shared services are human resources, finance and accounting, information technology and supply chain functions. When these support functions are centralized, they can be more efficient and easier to monitor for improvement opportunities.

Digital business services:

These are the tasks that businesses need to perform to digitize their transactional processes and connect them to a system of engagement and insight. They typically include mapping a service to its dependencies, defining and documenting the process for cataloging digital business services and communicating about them with customers, and ensuring that service delivery meets customers’ functional and technical requirements.

Unlike traditional business processes, digital business services require that organizations adopt a more agile approach to creating and delivering them. To achieve this, it is important to begin with a small set of pilot use cases that the organization and/or customers regularly engage in like employee office moves or customer order modifications. This will help you quickly determine if your service is ready for launch and to demonstrate its value.