Business services are a broad sector that includes various types of non-financial service providers, such as advertising and marketing firms, logistics (including travel and facilities services), waste handling and staffing companies. Across Europe, the sector contributes 11% of GDP and is essential to the European economy as a whole.
These services are a key component of the EU’s internal market and are growing in importance. They help businesses to improve the quality of their services and relationships with customers, thereby increasing their competitiveness and economic value.
Typical Business Services
One of the most common kinds of business service is B2B or business to business transactions, where a company provides products or services to another company in return for payment. Examples of such services include warehousing and distribution, logistics, shipping, freight, transportation and storage.
Among other B2B service activities are sales, advertising, consulting and information technology. These industries are a growing part of the business services industry and offer numerous employment opportunities for people with varying backgrounds, skills and experience levels.
Earning Potential
For those who are interested in entering the business services industry, there is a wide range of salaries depending on the individual’s qualifications and years of experience. Entry level positions can start at $19,050 to $41,264 a year while seasoned professionals can make up to $68,400 a year.
A career in business services can be extremely rewarding and challenging. It requires leadership, flexibility and a strong work ethic.
It also requires a great understanding of business and how it works. For example, a company needs to be able to create and implement strategies for promoting its brand and product. It must also be able to communicate its vision clearly to its employees and clients.
Many of the business services industry’s most successful companies have an emphasis on customer service and employee training. This helps employees understand the company’s vision and goals so that they can provide the best service to their customers.
Providing this service to customers can be especially challenging and can require employees to put in long hours, but it is an important aspect of a business’s success.
Building a Service Model
When creating digital business services, there is no substitute for a robust Service Model that defines the overall architecture of the system. This enables the business to understand how it connects the system of engagement and action with the system of insight required for fulfillment.
This is accomplished by identifying a set of use cases that are typically engaged in by employees and/or customers. This will enable service owners to define the core components of a digital business service more quickly and will allow them to prove their value more easily.
A good service model also includes the following attributes:
First, identify the data elements that a business service relies on or builds insight from. This includes customer and employee information, order history and the performance of processes that deliver the service.
Next, identify the business processes that support this data. Having this information is critical to the success of your digital business services because it gives you a complete picture of how well your service is performing.
