The business services sector is a well-recognised subset of economic services. Like economic services, business services share several characteristics. Both economic services and business services are concerned with building service systems and delivering value to customers. In other words, businesses serve as both the provider and consumer of services. In this article, we look at three aspects of service performance:
Service portfolio management
Service portfolio management is the process of tracking and documenting the investments in different types of services throughout their life cycle. It requires close collaboration with business units to evaluate service investment and risk analysis. A service portfolio process manager is responsible for overseeing the entire process. The team associated with the portfolio management process also manages the services. Here are the benefits of service portfolio management. Listed below are a few of them. Ensure business continuity by establishing a service portfolio.
Service portfolio management requires an organization to answer five questions: why would a client purchase a certain service, what are the risks, and the price? This enables organizations to focus on the minimum viable product and increase overall customer satisfaction. It also requires an organization to understand its strengths and weaknesses in terms of its customer base, including its pricing, delivery model, and availability of resources. Service portfolio management also involves product managers, who focus on projects and manage the service catalog.
Service level management
Developing and implementing a Service Level Management program is an important part of any business’ strategy. The process involves establishing clear business-based service levels, assessing customer satisfaction, and ensuring that promises are met. However, service level management is more than just a management system. It also focuses on customer engagement and understanding customers’ needs. Service level management can also help organizations improve customer relationships and address any blame culture that may arise.
This approach is a way to negotiate Service Level Agreements with customers and design and deliver services in accordance with agreed service levels. Service Level Management also focuses on service monitoring and reporting. The process highlights key information flows and is often abbreviated SLM. By ensuring service level targets are met, businesses can increase their chances of securing repeat business and growing their revenue. Service Level Management for business services aims to give both consumers and service providers assurance that their needs are met.
Service delivery performance
What is service delivery and how does it impact the bottom line? Service delivery is about meeting the needs of customers through the delivery of business services. Good service delivery means adding value to the customer’s experience. More satisfied customers are the result of good service delivery. In today’s competitive market, service delivery is a key differentiator. Listed below are some of the most important aspects of good service delivery. These characteristics are essential to improving service delivery and ensuring customer satisfaction.
Identifying key stakeholders is critical to the success of any service delivery project. These individuals must be included in all communications and nurtured at the minimum. To create a customer-centric service culture, identify the key stakeholders in your business. Incorporate them into your service delivery process, hire the right people, and set standards that ensure superior customer service. You must be clear about their needs, and create a culture of service excellence by embedding service delivery practices throughout your organization.