Business services are activities that benefit a company without delivering a physical product. These are important to companies for a number of reasons, including marketing, safety, cost and convenience. They also enable companies to focus on their core business and outsource tasks that fall outside of their expertise or capability. Some examples of business services are animal control, maintenance services and software services.
In globalEDGE, you can use the Business Service and Technical Services option buttons to toggle between changing CIs to Business Services or converting them to Technical Services. Choosing to change CIs to Business Services makes them visible to your end-users, while choosing to convert them to Technical Services makes them invisible to them.
Often, companies rely on shared services to provide support to their employees and customers. Shared services are centralized support functions that offer benefits such as reduced costs, improved communication and greater flexibility. This allows a company to scale up or down more easily and achieve greater efficiency. They are also helpful during mergers and acquisitions because they can make it easier to combine operations and achieve synergies.
The service economy is the largest sector in the European Union (EU) and contributes about 11% to the EU GDP. It provides employment opportunities for millions of workers and supports a wide range of businesses. There is still considerable untapped potential in the business services sector. To help address this, the EU has taken action in several areas to enhance the competitiveness of the sector.