Business services are intangible products or services that support the operations, infrastructure, and productivity of a business. These services include information technology, financial, HR, marketing, advertising, and consulting industries, which cater to specific business needs, enhancing operational efficiency and growth.
These activities are often outsourced to third parties, allowing a company to focus on its core business and reduce costs. For example, a software company may provide a service that allows customers to track their sales and inventory. The company’s clients then use this data to increase revenue, while the software provider’s employees continue working on their product.
This streamlined approach to business has resulted in an increased demand for these types of services. The industry also offers a wide range of career opportunities in many different sectors, including IT, finance, HR, marketing, and consulting. There are even specialized business services, such as shipping and procurement, that cater to particular companies.
The key characteristics of Business services are their intangibility and non-physical nature. They cannot be stored like traditional products, so they must be consumed or produced at the same time that they are provided. They are also bundled together, making them easier to manage and providing greater value. This can be done by leveraging automation technologies, such as robotic process automation and artificial intelligence.
IT services support the delivery of business value and are an essential component of the BSM framework. To maximize the benefits of IT business services, it is important to align them with the organization’s business goals and objectives. To achieve this, it is necessary to foster collaboration between IT and the business functions to understand their needs and priorities. It is also important to leverage automation technologies to automate processes and deliver self-healing IT systems.
In SL1, you can select one or more Business Services to appear at the top of the list on the Business Services page by clicking the star icon next to each service. This is a known as favoriting services and it makes them easier to find. You can also add and remove favorites by selecting and deselecting them from the list.
You can also customize the list of Services by selecting the check boxes for the ones you want to display. You can also change the default language by selecting the language from the list of options.
A business service is a means of delivering value to your Customers by facilitating outcomes that they want to achieve without ownership of specific Costs or Risks. This is in contrast to the traditional notion of a Service, which is viewed as a transactional product that is delivered over time and has an endpoint. This approach to business services is called the “Service as a Commodity” model. Examples of business services are a cloud infrastructure platform, telecommunications, and management services. However, the most common business services are IT services such as a managed security service or onsite defensive computing training. This is because IT has been a core service to businesses for decades.