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Entrepreneurs in the Philippines are always looking for ways to do things cheaper, faster, and better. This is why many businesses have realized the importance of specialty business services.
Without question, this type of service is essential for businesses who want to easily meet the demands of their customers.
A lot of businesses you know won’t be successful if these services are absent from their operation. Although service-based businesses have been booming in the country for years, its meteoric rise is just starting.
If you’re curious about business services, we’ve compiled everything you need to know about them below.
Business Services Definition
Business services involve any kind of work that supports businesses (and often provided by organizations that operate as B2B or business-to-business). However, it does not produce physical products.
The Philippines is one of the most competitive countries when it comes to providing this kind of service to businesses of all industries.
Characteristics of Business Services
To better understand what business services are, take a look at its different characteristics.
Intangibility
- Their assets cannot be touched, nor have a physical appearance
- These assets can only be experienced
- Because of its intangibility, quality service is needed so people can feel a great customer experience
Inconsistency
- Unlike physical products, there is no service consistency
- All service needs to be exclusively done each time
- The demands and expectations of businesses are very different
- Business service providers need to modify their services depending on what their clients want
Inseparability
- The consumption and production are simultaneous
Inventory
- Services cannot be stored to use for future use unlike physical products
- Products do not have physical components
- The demand and supply for every business service is closely related to each other
- Services will only be provided when asked
Involvement
- The business services guidelines and requirements are provided by clients
- The involvement of clients and the business is essential in any transaction
Types of Business Services in the Philippines
As the local and global economies have reached maturity, most of them have become reliant on service-focused businesses. Here’s a list of the most common types of business services in the Philippines.
Legal Services
All businesses deal with legal matters. This type of business service ensures the owner’s assets are protected from lawsuits. It also protects businesses from becoming riddled with legal issues.
Legal services are also essential for drafting different kinds of business agreements or advising companies when it comes to legal matters.
The different types of services that fall within this category include:
- Incorporation services
- Consultation for legal advice and information
- Reviewing or creating documents
- Representing clients during negotiations
- Preparation of documents
- Representing clients in arbitration, court, or legislative and administrative hearings
- Mediating
Check out the Top Law Firms in the Philippines.
Financial & Accounting Services
Financial operation is one of the most important aspects of any type of business. This provides services like bookkeeping and recording of business transactions.
It also handles consultation on how to improve business performance and assessments of financial capabilities.
The different types of services that fall within this category include:
- Accounting
- Bookkeeping
- Payroll services
- Tax services
- Auditing
- Financial planning
- Financial analysis
- Financial management
- Business loans
Check out our curated list of the Top Accounting Firms in the Philippines.
Management Services
Management services involve different parts of independent services. It could be applied to different facets of a business to reduce costs, modernize methods, and improve productivity. By harnessing the power of management services, companies can adapt to changing environments.
The different types of services that fall within this category include:
- Stock management services
- Facility management services
- Event management services
- Waste management services
Training Services
Large and small companies alike need training services to ensure their employees are prepared to take on real-life challenges. Training could involve soft skills, and well as know-how about the organization.
The different types of services that fall within this category include:
- Skills training
- Communication training
- Employee onboarding
- Presentation skills training
- Problem-solving
- IT training (for new versions of existing software)
Consulting Services
This type of service is needed by businesses for different types of projects. Through this, companies can gain a better perspective on situations and topics they have limited knowledge of.
The different types of services that fall within this category include:
- Financial consulting
- Marketing consulting
- Strategy consulting
- HR consulting
- Technology/IT consulting
- Legal consulting
- Management consulting
- Leadership & Executive coaching
Digital Marketing Services
Digital marketing is an integral part of growing businesses who want to keep up with today’s digital age. It enables brands to tailor their messages and their target audience, as well as increase their revenue.
It also helps businesses to reach more people, and establish their image online.
The different types of services that fall within this category include:
- Search engine optimization
- Online Advertising
- Paid search (PPC)
- Display ads
- Product listing ads (shopping ads)
- Remarketing & Re-targeting
- Paid social
- Media buying
- Website and/or app development
- Social media marketing
- Email marketing
- Content marketing
- Link building & Digital PR
- Online branding
Check out our list of vetted Digital Marketing Agencies in the Philippines.
IT & Software Services
Information Technology and software services involve helping organizations and businesses in creating, managing, optimizing, and accessing information and business processes.
It also includes upgrading the security for a company, installing data backups, or installing different technological devices.
The different types of services that fall within this category include:
- Network security
- IT consulting
- Computer training
- Help desk support
- Cloud services
- Backup solutions
- Monitoring
- Information reporting
- Software development
- Troubleshooting and technical support
Media Production Services
Nowadays, media content rules the internet, and it could also be helpful in internal operations. However, having an own department to make videos, photography, audio, and other content is expensive.
This is why many businesses prefer to hire services to make these.
The different types of services that fall within this category include:
- Webcasting, streaming & podcasting
- Lighting design
- Special effects
- Video production
- Audio production
- Scriptwriting
- Event management (live and virtual)
- Animation
BPO Services
Business Process Outsourcing or BPO services refer to specific processes needed to meet the demand of companies. This type of business service can be divided into back office and front office tasks.
The different types of services that fall within this category include:
- Tech support
- Customer support
- Billing and purchasing
- Marketing
- Tech support
- Administrative services
- Payment processing
- Accounting
- Regulatory compliance
- Human resources
- IT services
- Sales services
Check out our list of the Top BPO & KPO Companies in the Philippines.
HR & Recruitment Services
Optimizing your human resource and recruitment process is a must. Through this type of business service, you can ensure that all new employees will bring value to your company.
This type of service also offers expert guidance and critical support that will fill your company’s gaps within your HR functions.
The different types of services that fall within this category include:
- Recruitment and selection
- Negotiating contracts
- Interviewing and assessing applicants
- Drawing up a shortlist of candidates
- Organizing selection events
- Performance management
- Succession planning
- Human resources information systems
- HR data and analytics
- Learning and development
Distribution & Logistics Services
Distribution and logistics services are essential for any type of business. This ensures planning tasks, as well as controlling different processes that involve the flow of goods and information between different production companies and the customers.
The different types of services that fall within this category include:
- Delivery & Order fulfillment
- Trucking & Shipping
- Customs brokerage
- Warehousing
- Picking and packing
- Inventory management
- Ordering and invoicing
Check out our list of the Top Courier & Logistics Services in the Philippines.
Construction Services
If your company wants to expand or renovate your store or office, you need to hire a construction service to turn your vision into reality.
When you hire a construction team, this ensures that all renovations will be made in a timely and efficient manner. To ensure that there is no hassle on your part, they will also provide all equipment.
The different types of services that fall within this category include:
- Building construction
- Heavy engineering
- Materials
- Landscaping
- Project management
- Project development
Check out our list of the Top Construction Companies in the Philippines.
Architecture Services
This is important for companies that are looking for companies who want to avail services that involve the planning and designing of spaces and buildings.
The different types of services that fall within this category include:
- Schematic design
- Project inception
- Design development
- Construction document preparation
- Contract administration
- Project management
- Site selection
- Interior design
Check out this curated list of the Top Architectural Firms in the Philippines.
Design Services
Design should be a priority for all businesses because it affects their brand image.
Prioritizing design services will ensure that you will be unique from your competition and you can evoke emotions and feelings from your customers through effective design.
The different types of services that fall within this category include:
- Logo design
- Presentation design
- Infographic design
- Promotional materials
- Business cards
- Posters & Flyers
- Signage
- Advertisement design
- Email marketing design
Insurance Services
Insurance services protect your business from loss. This does not only cover buildings and vehicles against loss, but also healthcare, as well as death benefits to designated beneficiaries.
The different types of services that fall within this category include:
- Worker’s compensation insurance
- Commercial auto insurance
- General liability insurance
- Business income insurance
- Data breach insurance
- Commercial umbrella insurance
- Professional liability insurance
Check out this list of the Top Insurance Companies in the Philippines.
Research Services
Research services are required by businesses that need reliable and high-quality data that concerns funding, focal populations, stakeholders, service, policy landscapes, and a lot more.
Research services enable businesses to make more data-driven decisions on resource allocation and strategies.
The different types of services that fall within this category include:
- Surveys
- Interviews
- Correlational research
- Case study research
- Ethnographic research
- Focus groups
- Customer observation
Waste Management Services
Maintaining a clean working environment is needed for all types of businesses to enable their employees to become more productive.
Generating waste and garbage is unavoidable for companies and this type of service takes their trash away to recycling facilities and landfills.
The different types of services that fall within this category include:
- Garbage collection and disposal
- Recycling
- Dumpster rental
Catering Services
If your business needs food to be brought to a specific location, you must look into catering services. This type of business service adapts to the needs of clients in many ways, and they can adjust menus according to different dietary restrictions.
The different types of services that fall within this category include:
- Mobile and delivery catering
- Menu development
- Buffet catering
- Clean up services
- Cocktail receptions
- Ingredient sourcing
Travel Services
For many businesses, travel is required. If an employee needs to travel for work, the company needs to take care of all their travel arrangements. To make this complicated process easier, they can seek the help of travel services.
The different types of services that fall within this category include:
- Passenger transport
- Air travel services
- Road transport services
- Rail transport services
- Sea transport services
- Booking and reservation of hotels
- Booking and reservation of flight tickets
- Tourist travel information services
Security Services
This business service is needed by organizations that need to keep their store, products, employees, data, and customers secure.
Some security services may require the physical presence of a trained person to secure the area. This type of service is also crucial for a business that wants to protect itself from unsafe transactions and data breaches.
The different types of services that fall within this category include:
- Video surveillance monitoring
- Physical store security
- Entrance and exit screening
- Security patrol
- Disaster recovery
- Data loss prevention
- Encryption
- Access and identity management
- Network security
- Security assessment
- Web security
Maintenance Services
At some point, your business will encounter issues with your equipment, machines, or appliances. You need maintenance professionals to keep these devices functioning as needed.
Maintenance service is not only essential when problems arise, but also as a preventative measure.
The different types of services that fall within this category include:
- Preventative maintenance
- Scheduled serving
- Cleaning services
- Testing and component replacement
- Emergency repairs
- Pest control
- Property management
- Equipment and machine maintenance
Tips for Choosing the Right Service Provider for your Business
The success of your business lies in finding the right business service provider. If you rush your selection process and end up picking unreliable ones, your business will suffer financially.
Keep these tips in mind to ensure you choose the best provider that will help you achieve your business goals.
Know what services you need
Before hiring a business service provider, you first need to outline which services you need to outsource. That way, you will know what type of assistance you would need, and which business services can meet your unique needs. To do this, list and prioritize your unique pain points.
They should have industry and technical expertise
When choosing a provider, industry and technical expertise should be your primary considerations.
Don’t be tempted in choosing the cheapest service provider for your business in hopes to save money.
Instead, pick a provider who clearly understands the specific needs of your industry, especially the technologies involved in running it. If they have prior experience and a strong foundation in the field, they will meet your requirements better.
Research well
Once you have made up your mind about hiring business services, it’s time to start your research. This step may seem like a lot of work but it’s something you should not skip. There are many ways to research.
For instance, you can reach out to their clients and ask them about the advantages and disadvantages of working with the company. You can also ask your peers for referrals.
Research involves more than looking at their portfolio, website, and social media pages. By examining reviews and talking to their other clients, you can get a clearer insight as to what they are like to work with.
Cost
Cost is one of the biggest factors that dictate which business provider you will go for. Generally, business service providers help you save money in the long run.
However, you also do not want to pay more than what you can afford. At the same time, affordability doesn’t always guarantee the best results so find the right balance between price and efficiency.
When you skimp on the cost, you may end up with subpar services that result in unhappy customers. Therefore, you will end up losing money and straining your reputation.
One last thing – be realistic
Business services are all about partnership and collaboration.
You can’t expect them to work alone and only update you with results. To increase your chance of success, set realistic expectations, and give them the support they need so they can maximize their expertise.
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If you want to know more about the prevailing Philippines business services then this post is for you. It has a detailed explanation about the dominant business services. The good part is it is easy to understand. Thank you for this post!