Business Services: The Unsung Heroes That Keep the Wheels of Commerce Spinning
Business services are the specialized offerings and support functions that enable an enterprise to operate efficiently, innovate and thrive. These intangible offerings include IT, finance, HR, marketing, communication, consulting, and other services that facilitate operations, enhance growth, and improve overall business value. From the legal advice that helps companies navigate regulatory intricacies to the IT support that ensures digital systems are running seamlessly, business services are like the unsung heroes that keep the wheels of commerce spinning.
The definition of business services varies from one source to another. However, most sources agree that business services are intangible offerings that don’t result in the production of a tangible product. Examples of business services are insurance policies that protect businesses against liability, event management services that plan and execute industry conferences, and IT support that manages company IT infrastructure. Other services that fall under this category are human resources (HR) management, supply chain management, and training services.
Business services can be provided in-house or outsourced to a third-party provider. Outsourcing allows companies to focus on core competencies while leveraging the expertise of external providers for noncore activities. In addition, outsourcing reduces capital expenditures by allowing companies to pay only for the services they use.
Managing business services involves ensuring that these vital support functions align with and contribute to organizational goals. This requires a holistic approach to service management that includes processes, policies, and practices that emphasize customer satisfaction, continuous improvement, and alignment with business objectives. It also requires close collaboration between IT and other departments to avoid silos and fragmentation that can hamper effective service delivery.
The Business Services Center (BSC) is New York State’s central hub for processing transactional finance and human resources transactions that are common across agencies. The BSC is committed to enhancing efficiency, cost savings and customer service by standardizing and streamlining these processes.
In addition, the BSC supports agencies in meeting their mission by providing cost-effective solutions that allow them to focus on their core functions. Whether it’s legal services to help navigate regulatory challenges, IT support to maximize technological capabilities, or HR management to improve workforce performance, the BSC provides strategic support that enables agencies to deliver on their missions.
The value of a business service depends on how it is measured and the impact it has on the overall success of a business. By measuring the impact of a business service, organizations can identify opportunities to improve performance and increase competitive advantage. This includes measuring the quality of a service, its effectiveness, and its potential for revenue generation. Business services measurement methodologies can include metrics, key performance indicators (KPIs), and dashboards.