Business services are activities that benefit companies yet do not involve delivering a physical product. They are often used to add value or increase efficiency to a company’s products or processes. Companies can outsource many of their business services for convenience, safety, cost or expertise. Examples of business services include marketing, supply-related and administrative services.
These are also known as business-to-business (B2B) services. They are a major sector of the economy in many countries. They provide valuable support to other sectors, especially manufacturing and trade businesses. Business services may be delivered on a large scale, but they are usually focused on particular customer segments. They are frequently offered as part of a service-based value chain and are typically delivered remotely.
This article will explore the characteristics of successful business services and how they can be defined, managed and designed for success. It will also suggest some best practices for implementing these business services in your own organisation.
Since the Lookback Date, the Company has conducted its business only in the Ordinary Course of Business and has not been involved in any event, change or occurrence that would reasonably be expected to have a material adverse effect on the Company’s financial condition, results of operations or its providing of Business Services. The Company is in compliance with all labor and wage and hour, occupational health and safety, environmental, insurance, and other Laws and regulations pertaining to the conduct of its business.