Business services are activities that support a company but do not result in the production of a tangible product. They might include information technology, procurement and finance services. Companies that don’t have the internal resources to perform these services may outsource them, allowing them to focus on their core business and achieve efficiencies and cost savings in the process.
In the past, companies that offered service-based products did so only if they had an in-house team to provide them. But with rising affluence, consumers have more leisure time, and the demand for some service businesses has increased. For example, home cleaning services and lawn care are growing rapidly as people are increasingly able to afford these amenities and take advantage of them.
As a result, many businesses are outsourcing these functions to specialized third-party providers. These providers offer a wide range of business services to help customers improve efficiency and reduce costs. They might also offer a full range of back-office support, such as human resource management and IT support.
Some of the most popular job options in this category are accounting, financial analysis and management consulting services. Many of these professionals are highly in-demand and can command high salaries. Other lucrative career paths in the field of business services include human resources, legal affairs and marketing.
One of the most challenging aspects of a service business is achieving profitability without sacrificing quality. A good strategy is to differentiate your offering and develop a customer base that relies on you for specific offerings, which can generate revenue quickly and sustain profit margins. It is also important to manage your business carefully to avoid overspending or over-insourcing, which can lead to a loss in profits.
Another key to success in a business-to-business service industry is understanding the role that customer service plays. For instance, a business-to-business shipping service might require value-added functions such as sorting, packaging, labeling and light assembly. This kind of service can be a critical link in the relationship between manufacturers and their customers, helping to increase sales and reduce overall supply chain costs.
The Office of Business Services is committed to providing leadership and expertise in the development, implementation and continuous improvement of auxiliary services essential for Kean University to fulfill its mission. The Office serves as an institutional liaison with the major vendors that provide these services to the University, such as food services, the campus bookstore and vending machine services. It also oversees administrative functions, including travel, risk management, capital financing and petty cash. The office is staffed by a diverse team of dedicated professionals who share the common goal of delivering exceptional service to the University community.