A Service Level Agreement (SLA) forms part of a contract that clearly defines what you expect from a service provider, laying out the required level or standard for those services.
To ensure you develop a clear, well-organised SLA, six key factors should be included:
- Agreement Overview
The agreement overview should include important information such as the individuals involved, effective and expiration dates, and a general summary of any other details the service level agreement will cover.
- Goals and objectives
The basis of the agreement, including the ability to obtain a mutual agreement, must be outlined here.
- Stakeholders
This section explains the parties involved in the agreement.
- Periodic Review
A period review should be included, to outline the effective and expiration dates, as well as the measurable factors concerning the review timelines of a particular SLA.
- Service agreement
The service agreement forms the largest part of the SLA, featuring key components such as:
- Service scope – looking into specific services offered by the agreement
- Customer requirements – details on payments at agreed intervals
- Service provider requirements – clarification of response times in case of service-related incidents
- Service assumptions – agreement on changes to services and the ways in which these are communicated to stakeholder(s) is clarified
- Service Management
The last section of an SLA focuses on service management for both availability and requests.
Whether you are creating your own SLA, or just looking at how to improve your current one, Wise can help!
Our in-house specialist compliance team reviews and creates SLAs, ensuring your business remains both secure and compliant. Contact us here to get in touch.
