Software services companies offer software development, testing and maintenance as a "service" to other organizations. As a thriving industry in its own right, software services offers certain unique research problems as well as different takes on research problems typically considered in software engineering research. In this paper, we highlight some of these research problems, drawing heavily upon our involvement with IBM Global Business Services organization over the past several years. We focus on four selected topics: how to organize people and the flow of work through people, how to manage knowledge at an organizational level, how to estimate and manage risk in a services engagement, and finally, testing services. These topics by no means cover all areas pertinent to software services; rather, they reflect ones in which we have personal perspectives to offer. We also share our experience in deployment of research innovations in a large service delivery organization.