Business Services

Business services are the services that are primarily consumed by organizations. Services derive much of their value from intangible elements such as results, experiences, knowledge, management, and customer service. 

Types of business services

1. Outsourcing

Outsourcing is a category of business services that provide complete business processes, capabilities, software, projects, or products to a customer.

2. Consulting

Consulting is a type of business service that provides advice and/or labor for a fee.

3. Professional Services

Professional services are similar to consulting but involve a greater level of responsibility. For example, legal advice from a law firm is usually considered a professional service rather than a consultancy.

3. Product as a Service

A 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 can be sold as a service at a recurring fee that includes support and maintenance.

4. Infrastructure as a Service

Infrastructure such as computing sold on a utility model where companies pay for what they use.

5. Software as a Service

Programs offered for a monthly fee with operation, maintenance, administration and support.

6. Leasing

Rental of assets such as offices, furnishings, machinery and equipment. Leasing is often considered a service despite the fact that most of the value of leasing services is derived from physical assets.

7. Finance

Commercial and investment banking services such as a business line of credit.

8. Consumer Services

Over the past several decades, there has been a clear trend towards companies using more and more products and services designed for consumers. This is known as depreciation or convergence. For example, companies once used computer equipment that was completely different from consumer ones. This has changed because it is now common for businesses and consumers to use the same devices.

8. Business Class Services

It is common for business services to be very similar to consumer services with additional functionality, features, or quality. An early example would be business class fares on a flight. This model has been expanded to include a wide range of services. For example, a cloud storage service may primarily target consumers with a commercial version that provides power tools and data redundancy.

Summary