Corporate services or business services are activities which combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. The term corporate services providers (CSPs) is also used.
Corporate Service Providers may work in a diverse set of fields such as finance, consulting, IT service management, advisory services, auditing and so forth. Typically the emphasis of the service agreement is on providing clients with an improved functional and experiential quality over time.[1]
In the United Kingdom, the public audit agencies produced a report in May 2007 called "Value for Money in public sector corporate services".[2] This provides performance indicators in five categories: Finance, Human Resources, Information & Communication Technology, Procurement, and Estates Management.
Examples of corporate services
Business advisory service
A Business Advisory Service counsels clients re the current and future state of their Company, with the aim of advancing the prospects of the enterprise in question. This service, used across various industries, involves (i) examining the relevant legal, tax, financial, market, and/or risk factors, and then (ii) advising re start-up (including company formation), or more common, re ongoing strategic and operational improvements to the business.
Company incorporation
Company incorporation is the process of forming a company corporation officially in the country of residence. It is also possible non-residents to set up a company: see offshore company. However, laws vary in all countries. International corporate service consultants specialise in dealing with incorporation in the country in question. Once application is successful, the company will receive a certificate of incorporation. Which provides valid existence of the company under the registered name given.[3]
Legal aspects
In ordinary circumstances, corporate service providers may not, or alternatively will not, act as a trustee for the clients which they provide services to. This is to maintain the integrity of the client organization and its ability to represent itself in legal processes. It also avoids excessive risk on behalf of the purveyor of corporate services.
This practice seeks to ensure that the corporate personhood of the client is secured. Exceptions to this may be in litigations or corporate bankruptcy filings where the enterprise entity of the client is considered legally incapacitated and is therefor incapable of representing itself in a court process. In these rare cases the corporate service provider may decide to act as a trustee for the client.
See also
- Big Four accounting firms
- Big Three (management consultancies)
- Consulting firm
- Financial adviser
References
- Ulrike De Brentani. Success Factors in Developing New Business Services European Journal of Marketing, Emerald Insight, 1991^
- Public Audit Forum: Publications retrieved 2008-01-29^
- Cima F1 Dumps retrieved 19 Jan 2017