What is a Service Level Agreement? Customer Management
Self Improvement International|March 2021
A Service Level Agreement (SLA) is a documented contract that establishes a set of deliverables or activities that one party has agreed to provide another. This agreement can exist between a business and its customers, or one department that delivers a recurring service to another department within that business. SLAs are a critical component of any outsourcing or technology vendor contract. Beyond listing expectations of service type and quality, an SLA also provides remedies and penalties when customer requirements aren't met.
What is a Service Level Agreement? Customer Management

Why are SLAs important? – Let us assume that a financial company that deals with stocks has outsourced maintenance of their computer servers and network to a third-party IT Company. As you may be aware, a stock market company is always under high pressure to provide information and trading-related activities like buying or selling to their customers. Every minute is important. But if their computer network is frequently down then they cannot conduct their stock trading business in a reliable manner. This can seriously impact their revenue and reputation. This is when they should consider having a strict SLA with the IT Company on how they should maintain their computer network. The IT Company should outline what services they will provide, how fast they will provide, and what penalties they will pay for deficiencies in service. They should clearly state metrics, responsibilities, and expectations so when technical issues happen neither party can plead ignorance. In short, an SLA ensures both sides have the same understanding of requirements.

Such a document will ensure that IT company takes its responsibilities seriously and the finance company will have the necessary guarantees and assurance that their computer network and business operations are in reliable and in safe hands.

Who provides the SLA? - Most IT service providers have standard SLAs reflecting various levels of service at different prices. For example, an IT service provider can have two or three types of SLAs that customers can choose from. A company that can wait for its computers to be repaired leisurely can choose the low-cost option, while a company that needs a speedy resolution can opt for a high-cost SLA. These should be reviewed and modified by the customer and legal counsel, however, since they are usually slanted in favor of the supplier.

Bu hikaye Self Improvement International dergisinin March 2021 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Self Improvement International dergisinin March 2021 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

SELF IMPROVEMENT INTERNATIONAL DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
The Benefits Of Mild Exercises - Personal Health
Self Improvement International

The Benefits Of Mild Exercises - Personal Health

Introduction: Are you above 40 years of age? If yes, then you need to take various precautions while doing exercises.

time-read
3 dak  |
Self Improvement International - January 2024
I am the Merry Mercury - Children Knowledge
Self Improvement International

I am the Merry Mercury - Children Knowledge

Hey, I am the planet, Mercury. I am named after the Roman God of commerce and travel. I am the first and closest planet to the Sun and also a very small planet. I am just one-third the size of Earth.

time-read
1 min  |
Self Improvement International - January 2024
Comics - The Lost Priceless Treasures (Nostalgia)
Self Improvement International

Comics - The Lost Priceless Treasures (Nostalgia)

This section is dedicated to remembering the golden era of comics that lasted from the 1930s till the late 1980s. When we were kids we didn't have dozens of TV channels, Smartphones, Apps, Internet, Social Media, etc.

time-read
1 min  |
Self Improvement International - January 2024
Difference between 'doing good' and 'being good'! - Personal Development by Chandrasekar Vaidyanathan
Self Improvement International

Difference between 'doing good' and 'being good'! - Personal Development by Chandrasekar Vaidyanathan

It is always easier doing good than being good. It also earns the trust and admiration of people if that is what one wants.

time-read
2 dak  |
Self Improvement International - January 2024
Embrace Imperfection - Personal Development
Self Improvement International

Embrace Imperfection - Personal Development

Introduction - In a world that often values perfection and objectivity, there's also a convincing case to embrace imperfection. People love to be perfect, but that is a flaw in itself.

time-read
2 dak  |
Self Improvement International - January 2024
The Indispensable Role of Lawyers - Legal Guidance
Self Improvement International

The Indispensable Role of Lawyers - Legal Guidance

Introduction: Dealing with property matters or navigating the bureaucratic maze of government offices can often be a daunting task, with potential pitfalls and challenges.

time-read
3 dak  |
Self Improvement International - January 2024
Life Beyond Optimism and Fairy Tales - Risk Management
Self Improvement International

Life Beyond Optimism and Fairy Tales - Risk Management

Introduction: In a world filled with tales of optimism, good hope, and fairy tales of lived happily ever after, it's easy to get swept away by the allure of idealistic stories. However, the real world is harsh and brutal.

time-read
2 dak  |
Self Improvement International - January 2024
Taking Risks and Biting the Bullet - Stress Management
Self Improvement International

Taking Risks and Biting the Bullet - Stress Management

Introduction - In your life's journey towards success or even trying to achieve something simple, there are often moments when you find yourselves standing at the crossroads, faced with tough decisions and challenging opportunities.

time-read
3 dak  |
Self Improvement International - January 2024
I am a Pretty Pomegranate
Self Improvement International

I am a Pretty Pomegranate

Children Knowledge

time-read
2 dak  |
Self Improvement International - December 2023
Top Self-Help Books
Self Improvement International

Top Self-Help Books

Writing and Publishing

time-read
2 dak  |
Self Improvement International - December 2023