Business services are an industry and a common business model that provides non-financial value to companies. They include advertising, marketing, consultation, logistics (including travel and facilities services), waste handling, staffing, shipping, administration, and security services to name a few.
Benefits of a Service-Based Business
The primary difference between goods and services is that goods have a physical form and can be purchased by customers, while services do not have such an inherent physical nature. This creates a barrier to entry for some service-oriented businesses.
Goods are typically sold directly to consumers, whereas services are typically provided through contracts or other arrangements with organizations. These contracts or arrangements typically require a high level of trust and communication between the service provider and its clients, so a strong reputation is necessary for a successful business in this category.
Use case management and optimization – Create a process for how you catalog and communicate digital business services with your customers, ensuring that you accurately and efficiently map your customer’s functional and technical requirements to your service delivery strategy. You also need a process for validating that your service delivery meets your customer’s desired levels of functionality and cost.
Service-level management – Create a process for measuring and analyzing the performance of your digital business services against key metrics, such as uptime, response time, and capacity usage. You’ll need to partner with your IT operations and application teams to ensure that you’ve established appropriate monitoring, alerting, and reporting processes that provide timely and actionable insights into your service delivery.