A service level
agreement is a formal agreement executed between two parties. This agreement
will clarify the services which shall be provided by the service provider. SLA
is mainly a contract between a service provider and other party (its customer)
which describes the services and performance standards.
Service
Level Agreement Components
Service
Level Agreements (SLAs) will consist the following elements:
Ø
Description of the services
Ø Reliability-
Time of availing the service
Ø Responsiveness
and effectiveness of the service
Ø Process
& procedure of service
Ø Process
of monitoring the Performance
Ø Description
of Penalties in case failure to meet obligations
Ø
Circumstances under which terms of the service
level agreement be waived
Service level agreement gives the clarity of
expectation and provides benefits to both parties. A clause can be there
regarding incentives and penalties and besides this it will also indicate the
time when service provider is entitled to terminate the agreement.
Business entities usually outsource wide range of
services. At the time services are outsourced, business entity enters into a Service Level Agreement
(SLA) which explains the relationship among both the parties. SLA covers
everything related to business relationship. SLA can be entered with the
consultant or freelancers. It is very beneficial up to the services are
rendered.
SLAs are periodically reviewed and updated by the
Service providers which explain if there is any addition made or modification
of existing services or if there is any change in regulatory environment.
Source
url - http://enterslice.over-blog.com/2018/06/what-is-the-necessity-of-service-level-agreement.html
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