A service level agreement (SLA), which is an important aspect of business consulting, is used often between a firm’s internal operations as well as its customers. It defines what each party needs to reach its goals and provides a mechanism for reporting on those goals and any issues that arise.
SLAs provide protection for both the service user and provider by setting standards, targets, and consequences when these expectations are not met. SLAs also allow businesses to create key performance metrics that can be used to identify areas that do not meet their strategic goals https://royston-consulting.com/monday-com-for-project-management-short-review/.
The SLA should include all services included in the contract, including details on turnaround time and any exclusions. The contract should also specify a list metrics that will be used by the service provider to measure their performance.
Metrics selected should reflect only factors within the service provider’s reasonable control, and be easy for them to collect. They should also have a reasonable starting point so that they may be refined over the course of time.
KPIs measure how a business performs in relation to the primary goals. It can help a business determine if they are veering from their course, which is an issue that is common for small businesses.