Service level metrics should include both service and administrative components. Service level agreements offer your organization the ability to complete the following 8 items: A Service Level Agreement (SLA) focuses on measuring the performance and quality of service agreed by your organization and the provider and can be used as a measurement tool as part of the contract or as an independent document. The main objective of alS is to identify the level of service provided. It is important to remember that while precise metrics vary by supplier, the areas covered are uniform, specific and measurable in terms of work volume and quality, speed, responsiveness and efficiency. With regard to these areas, the ALS aims to establish a mutual understanding of the supplier`s services, priority areas, responsibilities, guarantees and guarantees. From a regulatory perspective, organizations must have a formal contract with suppliers providing products or services. The treaty must clearly address the obligations and responsibilities of all parties involved. In the past, some organizations may have had informal expectations of suppliers who did not feel compelled to write or not properly reviewed, resulting in problems with applicability, lender risk management and general risk management. It is therefore a regulatory requirement and a proven method of entering into a contract with all your suppliers. A contract is an agreement between two parties that creates a legal obligation for your organization and your creditor to perform certain acts. Each contracting party is legally required to fulfil its treaty obligations. Whether your organization has implemented a service level contract or agreement with a credit card, both must be managed and audited regularly. Both should not be considered a static document because they change.
Both must be actively monitored, managed and under-managed for change management and follow-up over the life of the credit relationship. ALS defines the service your organization expects from a lender and determines how to measure service and determines corrective actions or possible penalties for non-compliance with agreed service levels.