What Are Business Services?

Business services are activities that benefit a company but do not involve producing a physical commodity. These activities can be performed internally or by outside professionals, such as legal or marketing consultants. Business service providers can also be specialized in specific areas, such as data processing or IT support. These activities can help a company focus on its core competencies and reduce costs.

The service sector of the economy is a growing industry. In the past few years, technology has allowed for more and more companies to focus on their core businesses while outsourcing labor that is not part of their specialization. This has increased the number of people working in the service industry and helped them expand their market reach. Many business services are now provided through web platforms and systems, as well as mobile apps.

There are three main types of business models: one sells physical goods, the other sells services, and the third combines both physical and service products. The type of model a company chooses depends on its skills, capital, and resources. For example, a small business may only be able to offer a service because it lacks the infrastructure needed to sell a product. Therefore, it would be best for this business to focus on its services and not bother with selling physical goods.

In the context of information technology, business services are a group of processes and functions that provide value to a company. These processes and functions enable the business to achieve its goals, including making money. This is why it is important for an IT department to understand the business goals of a company and align its services with them.

The business services page displays a list of business, IT, and device services, as well as their basic info and health, availability, and risk metrics. The service details include the name, description, contact information, and more. The service type indicates whether it is a business service, IT service, or device service, and the contact information provides the organization that owns it. It also specifies the role of the owner in case you need to contact them.

For example, a banking company creates multiple business services (made up of both IT and device services) to monitor its online banking, teller systems, and ATM networks. It also creates a separate device service to monitor each of its devices, which it organizes based on location or region. Then, it adds all of these device services to the appropriate business service.

You can make technical services into business services by selecting them in this list and then clicking Make Selected Technical Services into Business Services in the Actions list. After you make a service into a business service, it will disappear from the Technical Services list. If you are using both SL1 and ServiceNow, you can sync the business services between the two systems. This is recommended for complex service models, which can have multiple properties and dependencies that need to be managed in both SL1 and ServiceNow.