Service-level agreements (SLAs) are an important component of business consulting. They are often used by a company to communicate with its customers. It provides the information that each party needs to achieve their goals.

SLAs protect the end-user and the service provider, by establishing standards and targets. They also establish consequences for not meeting these expectations. They also allow the creation key performance indicators which can help a company identify areas of its business that are not on course to meet their strategic objectives.

The SLA should define all the services that are included in a contract, with details on turnaround times and any exclusions. The contract should also specify a list metrics that will be used by the service provider to measure their performance.

Metrics should be selected to reflect only factors http://royston-consulting.com/5-best-dataroom-providers-for-your-business that are within the service provider’s reasonable control and be easy to collect. They should also be set up with a reasonable base, so they can be refined as time goes on.

A key performance indicator, or KPI, is a metric that measures how well a business is performing in terms of its primary goals. It can help the business determine whether it is veering off course, which is a problem that is common with small businesses.