Business services are a wide range of non-physical services that support and enable the production of goods and the delivery of customer value. They are one of the most important sectors in the European economy, contributing 11% of EU GDP, and are a critical factor for competitiveness and economic growth. They include everything from IT and marketing services to HR and finance.

The business services industry is a highly diverse sector that comprises many different industries and companies. Some of the most common business services include:

Unlike goods, which can be stored and then consumed at a later date, a service is delivered to the customer as it is being provided. As a result, the quality of a service depends on customer involvement and communication with the provider. The intangibility of business services also means that the value of a service cannot be directly measured, and it is often difficult to compare business services from one provider to another.

Businesses may employ their own internal business services departments to manage their operations, or they might contract with third-party companies to provide them with these professional services. Outsourcing can offer a number of advantages to businesses, including lower costs and more efficient operations. Companies can outsource both core and noncore business services, which allows them to concentrate on their own strengths while leaving the rest to a specialist company.

Typical jobs in the field of business services include customer service representatives, HR managers and financial analysts. Some of the more specialized jobs in this sector include marketing specialists, project managers and consultants. The job duties of these positions vary depending on the industry, but they all focus on helping companies achieve their business goals.

Some of the most important aspects of a successful business services department are communication and collaboration with customers. This helps the company to understand how it can meet the needs and expectations of its clients. In turn, this will help the company to improve and expand its operations.

To become a successful business services manager, it is necessary to have strong people skills and previous sales or customer service experience. It is also important to have an understanding of the industry in which you are working, as this will influence how you approach your work.

In SL1, you can make certain business services favorites so that they always appear at the top of your Business Services page when you sort by favorites. To do this, click the star icon () next to a business service. You can remove a favorite by clicking the icon again. To create a custom dashboard that displays your favorite business services, see the Creating Dashboards guide.