Yes, SERVING is a Scrabble word!

Letter values in Scrabble US: S 1, E 1, R 1, V 4, I 1, N 1, G 2.

Is it a valid word?

SERVING is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

serve a purpose, role, or function
do duty or hold offices; serve in a specific function
contribute or conduce to
be used by; as of a utility
help to some food; help with food or drink
provide (usually but not necessarily food)
devote (part of) one's life or efforts to, as of countries, institutions, or ideas
promote, benefit, or be useful or beneficial to
spend time in prison or in a labor camp
work for or be a servant to
deliver a warrant or summons to someone
be sufficient; be adequate, either in quality or quantity
do military service
mate with
put the ball into play

Also: service of process, serve up, dish out, dish up, serve well, attend to, wait on, swear out.