Process Innovation in Service Sector

Process innovation in the service sector refers to the implementation of new or improved methods of delivering services to enhance efficiency, effectiveness, or customer satisfaction. This can involve adopting technology, redesigning workflows, or introducing new service delivery models. For instance, a bank might streamline its loan application process by using online forms, reducing wait times and improving customer experience. Ultimately, process innovation aims to provide better services, reduce costs, or respond more effectively to customer needs, benefiting both the service provider and the consumer.