Business services are an integral part of any company’s operations. They include IT, financial, HR, marketing, consulting and other services that support core business functions. By providing value to businesses, business services improve operational efficiency and increase competitiveness. However, launching and managing digital business services can be challenging without the right tools.
This article explores how the ServiceNow platform can be used to manage business services efficiently. Learn how to set up service levels, define business goals and expected benefits, execute service fulfillment and approval processes, and perform performance and service reviews. Additionally, find out how to create a default Business Services page that displays your favorite services by default.
Definition
A business service is an intangible offering provided by one party to another, with no physical product involved. These offerings support the operation and management of the business, but do not generate any revenue for the entity providing them. For example, a catering company provides food services for an industry conference, or an IT services provider offers maintenance and support for IT systems. Unlike tangible goods, services cannot be stored like inventory and must be consumed at the same time as they are produced.
Services are a key component of the economy, accounting for about half of all economic activity. In a recent study, the OECD found that business services contribute to innovation, employment and GDP growth, and can help developing countries to move up the value chain. They are also a key source of innovation in the economy, with more than half of all new ideas coming from the business sector.
In addition to facilitating innovation, business services enhance operational efficiency and foster productivity. By outsourcing non-core functions, companies can focus on their strengths while reducing overhead costs. In addition, business services can provide access to specialized expertise that may not be available in-house, aiding decision-making and driving growth and competitiveness.
A variety of industries rely on business services. For instance, healthcare organizations rely on IT services for electronic health records, while retail stores rely on logistics services for inventory management. Other important industries that benefit from business services are the automotive, banking and insurance sectors.
The ServiceNow platform includes several built-in Business Services pages that display your favorites by default. To view a list of all the services, click the Business Services icon in the top-left corner of the navigation bar. To add a service to your Favorites list, click the star next to the name of the service. To remove a service from your Favorites list, click the star again. You can also define which CIs are Business Services or Technical Services by clicking the Business or Technical tab in the configuration panel. To view your favorite services on a Business Services page, select the favorite checkbox next to the service name.