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An SLA formalises the rules of engagement and ensures that during periods where problems occur, there is a pre agreed plan for resolution. It further serves to articulate the agreement between parties around various aspects ranging from service delivery, to system uptime, turnaround times for query resolution, financial agreements and other issues pertinent to the engagement.
SLA is a Service Level Agreement.
For example : your business may have an SLA around response times. Say it was 90% all tasks responded to withing 30 minutes.
if you/your busienss only achieved that 80% of the time - then you nave not met the SLA - and whomever (the customer?) may be entitled t compensation as the SLA is a service contract.
it's something just like the code of contact
SLA Is only a mutual aggrement with the second party and third party companies
SLA are excellent tools for making performance visible and accountable. Basically its a listing that goes beyond expectations of service type and quality contracted between a service provider and the end user. Mostly used for a customer service environment.