Business Services Report 2023 by

Historically, “Business Services” refer to all activities which support the main function of an organisation. As technology changes job titles and in-demand skills, the concept of a support function also evolves.

Now worth over € 1 trillion, the sector continues to grow, leveraging economies of scale, optimising infrastructure, and finding new pockets of talent to increase efficiency and drive innovation.

The Business Service Sector (BSS) worldwide is facing 3 main challenges:

1. Digital transformation, which forces organizations to invest in the right technology and upskill their workforce.
2. Talent management. The mismatch between a growing demand for skilled professionals (in particular with specialized expertise in areas such as data analytics, cybersecurity, and process optimization) and the availability of such talent causes competition, which requires the development of robust talent acquisition and retention strategies.
3. Increasing complexity of regulatory and compliance requirements, in particular for organizations operating across multiple jurisdictions, that require specialized knowledge and resources to ensure compliance and avoid potential penalties.