In this article, I want to look at some of the facts that you need to know about Service Value System in ITIL 4.
The Service Value System describes how all the components and activities of an organisation work together in order to allow value co-creation. This system talks about how organisations arranged their resources so as to allow customers to contribute to the development of new products and services.
It should be noted that these components and activities can be configured and reconfigured in multiple combinations as situations and circumstances changes, but this requires the integration and coordination of activities, practices, teams, authorities and responsibilities in order for them to be truly effective.
The purpose of SVS is to ensure that the organisation continually co-creates value with all stakeholders through the use and management of products and services. That means when organisations create new products and services, they have to listen to feedback from customers. They must provide the enabling environment that allows customers to contribute to the development of new products and services.