Business services are activities that support businesses but do not result in the creation of a tangible product. Examples include banking, transportation, warehousing, insurance and communication services. Business service providers must be prepared to respond to customer demand and compete with traditional industrial goods suppliers.
Business service providers enhance operational efficiency, provide specialized expertise and foster innovation. These services benefit all industries. For example, IT services facilitate electronic health records in healthcare and marketing services build brand loyalty in retail. They also provide value-added offerings such as data analytics, financial services and consulting.
To set a service as a favorite, click the star icon on the Business Services page (pictured below). Favorite services display at the top of the list by default and are included in the multi-sort function. You can unset a service as a favorite by clicking the star again.
Providing a wide range of support to companies, these business services enable them to focus on their core business activities and maximize growth. They include office administration, hiring and placing of personnel, travel services and waste disposal. Some of the world’s largest business services companies include ADP, Allegis Group and ManpowerGroup (all based in the US) and Adecco and Randstad (both based in Europe).
Outsourcing business services reduces overhead costs and frees up resources for more critical activities. However, it can be challenging to select a reliable and cost-effective service provider. The key to success is a thorough understanding of the services required and the business context in which they operate.