Business services are services that are primarily consumed by organizations. Services derive much of their value from intangible elements such as outcomes, experiences, knowledge, management and customer service. The following are common types of business service.
Outsourcing is a class of business service that delivers entire business processes, capabilities, programs, projects or work products for a customer. For example, a contract manufacturing service that produces products for business customers.
Consulting is a type of business service that delivers advice and/or labor for a fee. Professional services are similar to consulting but imply a greater level of responsibility. For example, legal advice from a law firm is typically considered a professional service as opposed to consulting.
Product as a service is a business model whereby products are sold for an ongoing fee that includes services such as management, maintenance and support. For example, computing equipment may be sold as a service with a recurring fee that includes support and maintenance.
Infrastructure such as computing that is sold on a utility model whereby businesses pay for what they use. Software that is offered for a monthly fee together with operation, maintenance, management and support.
LeasingLeasing of assets such as office space, furnishings, machines and equipment. Leasing is often considered a service despite that fact that most of the value of leasing services is derived from physical assets.
FinanceBusiness and investment banking services such as a commercial line of credit.Over the past several decades there has been a clear trend towards businesses using more and more products and services that are designed for consumers. This is known as consumerization or convergence. For example, businesses once used computing equipment that was very different from consumer devices. This has changed as it is now common for businesses and consumers to use the same devices.
Business Class ServicesIt is common for business services to be very similar to consumer services with additional functions, features or quality. An early example of this is business class fares on a flight. This model has been extended to a broad array of services. For example, a cloud storage service might be primarily aimed at consumers with a business version that provides power tools and increased data redundancy.In some cases, businesses purchase services designed to increase the quality of life of employees in areas such as health, fitness, entertainment, education and daycare.
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