What Are Business Services?

A Business service is a subset of economic services and includes the supply of goods and services used directly in the course of a trade transaction between businesses. These services include consulting, telecommunications, information technology, software development, facility management, and more. These services are largely intangible, and their value is based on the expertise, convenience, or luxury provided by the business. The industry is highly fragmented, with several different sectors based on the specific service offered.

The term Business services can also refer to a specific type of service, known as business-to-business (B2B) services. These services are provided between trading organizations, such as wholesalers and retailers, or manufacturers and their suppliers. For example, a car manufacturer performs B2B services when it purchases tires, rubber hoses, and other components from a wholesaler to manufacture a vehicle.

Defining successful Business Services involves determining your Service customers and understanding their needs. These techniques are important for creating new Services, but are equally valuable when reviewing existing Services and transforming them into new Service models.

When you create a Business service, you can model capabilities that span multiple technical services and can be owned by teams with different responsibilities. Business services can then be mapped to incidents on the status dashboard, in your service catalog/CMDB, or within monitoring tools. The Admin, Manager, and Global Admin base roles can create and edit Business services. A Business service can be configured to require that incidents have a specified priority in order to affect the Business service.

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