What Are Business Services?

Business services are activities that provide value to a company, but do not directly involve the supply of tangible products. Some examples of these activities include lease management, IT services, and device services. Ultimately, the business acts as both a provider and a consumer of these services. These activities help a business to grow and maintain a competitive advantage in the marketplace.

Business services are activities that benefit a company without supplying a tangible product

Business services are activities used by businesses, but which do not produce a tangible product. These activities include transportation, insurance, banking, and warehousing. Other examples include communication services.

They include IT services

IT services can be delivered over the internet or a dedicated cloud platform. These services can include software, hardware, and network infrastructure. Many of these services can be delivered as a subscription. Some organizations provide software support or maintenance services. They also provide generalized services such as software maintenance and software development.

They include device services

Whether you need a new laptop or a business mobile device, there are many different business services you can look for. One such service is Device as a Service, which is a subscription-based model for businesses that handles all hardware, software, and maintenance of devices. This model streamlines business operations and allows businesses to scale up or down in size easily.

They include lease management

Lease management, otherwise known as lease administration, involves a range of administrative tasks and reporting. This involves coordinating with stakeholders, document management, and completing contractual obligations. While many corporations have traditionally ignored their assets, modern technology is changing this practice.

They are perishable

Unlike physical goods, business services cannot be stored for later use. This is because services can only be consumed once and cannot be reused. Think about airline seats, for example: they can only be sold before departure and cannot be charged later. The same goes for rendered services.