Business services are support services offered by companies to meet their business objectives. They range from human resources to marketing and accounting to operations management. Often offered remotely, business services are specialized and can provide value to a business’s customers. While there are many similarities between business services and economic services, these are distinct subsets of each other.
Accounting
Accounting is a vital part of any business and requires the creation and maintenance of records that reflect a business’ financial status. Clean financial records help a business to keep track of expenses, determine gross margins, and allocate budgets. Accounting also helps businesses comply with varying state regulations. A professional accountant can advise on how to obtain an employment identification number and register a business in the state.
Human resources
The role of human resources (HR) in business services has undergone fundamental changes in recent years, due to changes in leadership, organizational structures, and business conditions. Previously, companies structured themselves centrally and used HR as a separate function, but today many companies are decentralizing and integrating operations. Today’s senior management expects HR to move beyond its traditionally compartmentalized role and become an integral part of the business.
Marketing
Marketing business services are available to assist businesses with the process of promoting their business. Some examples include SEO, search engine optimization, and website design. These methods all require the creation of content, backlinking, anchor text, internal and external links, keyword analysis, and other factors that will help a business gain a high ranking in search engines.
Operations management
Operations management is the process of transforming raw materials and inputs into a final product. By effectively managing these processes, manufacturers can achieve greater productivity and competitive advantage. They can improve their products and services, and bring in new customers.
Building maintenance
If you want to be successful in the building maintenance industry, you should develop a business plan. A business plan is a key element to attracting new customers. It should be unique and demonstrates your expertise in the industry. It should also highlight your customer-centric approach and an easy sales process. By doing so, you’ll ensure that your new customers are happy with your services and keep them coming back to you.
Insurance
If your business provides services to customers, it’s important to have an insurance policy that protects you from any potential risks. Whether your services are provided in-house or through sub-contractors, USI’s Business Services team can help you get the right coverage at the right price. This type of insurance can cover anything from on-the-job injuries and equipment malfunctions to cyber liability and international risks.