Business services are non-physical commodities that enable other businesses to operate. Examples include banking, transportation, warehousing, insurance and communication. Businesses need these services to manage the operations of their enterprises and earn profits. These services are usually rendered by professional service firms that have specialized expertise and equipment.

The Business services industry has grown significantly in recent years as technology has facilitated the expansion of many businesses through web platforms and systems. This has also led to a rise in startup businesses that offer a wide range of services. For example, a credit card processor helps businesses accept payments from customers; while a virtual private network (VPN) provides a secure connection between a computer and the internet.

Unlike physical goods, business services cannot be stocked or stored in warehouses. In most cases, they are delivered on a short-term basis and must be used when needed. This inseparability can pose challenges for businesses, especially when it comes to managing cost and quality.

As the number of businesses continues to grow, companies are relying more on business services to maintain competitiveness. For example, a company may outsource IT support to reduce staffing costs while maintaining the same level of service to its customers.

In order to succeed, a business needs to be agile and stay on top of its services. However, the growing complexity of IT services can cause issues like siloed approaches and a lack of visibility into overall service performance. To help address these problems, IT managers should use a business service management framework to align IT services with the goals of the enterprise.