SLA

TechExec Week 21 - Friday Edition

Author

Gaurav Singh
September 08, 2023

(Total read time: 3 minutes)

Hey there,

Welcome to Week 21 of TechExec - the newsletter that turbocharges your growth to become a Tech Executive!

As always, we are sharing a new set of BLTs this week

  • šŸ’¼ B - a Business concept / theory / story

  • šŸ’ L - a lifestyle advice

  • šŸ¤– T - a Tech explainer

Here is the schedule:

Monday ā€”>šŸ’¼ B - a Business concept / theory / story

Wednesday ā€”> šŸ’ L - a lifestyle advice

Friday ā€”> šŸ¤– T - a Tech explainer

This week we covered Value Consulting on Monday and the 80/20 rule on Wednesday.

Todayā€™s Tech Explainer is on SLA!

šŸ’¼ T - SLA

In the thrilling universe of business, SLA stands for "Service Level Agreement," a contract between a service provider and their client that defines the level of service expected from the provider.

SLAs are like your favorite pair of jeans: they serve a specific purpose, fit you just right, and have to be tailored to your individual needs. And much like your denim collection, SLAs look different across various industries. In the IT industry, for instance, an SLA might specify system uptime, or response time for support requests. On the other hand, an SLA in logistics could define delivery times, quantities, and return policies. In essence, an SLA is a promise-ring given by the service provider to their clientā€”a pledge to uphold certain standards and meet certain expectations.

Designing an SLA is just like cooking your favorite dish. You need to know what ingredients (or metrics) to include and how much of each to use. First and foremost, the agreement should be clear and unambiguous. You want to get into specificsā€”not "we'll try to deliver on time" but "we'll deliver by 3 PM on Tuesday". Don't be that person who uses jargon like it's confetti at a parade. Keep it concise and comprehensible; no one wants to read a contract that resembles a cryptic crossword puzzle!

Next up is relevancy. If you're a pizza delivery service, your customers probably don't care about the air pressure in your car tires; they want their pizza hot and on time! Similarly, if youā€™re an IT company, your customers donā€™t want to know your coffee intake; they care about server uptime and data security.

Now, letā€™s not forget about measurability. Your metrics need to be measurable in a meaningful way. Saying, "We promise to provide good service," is as helpful as a chocolate teapot. Good service according to whom? Define it. Spell it out. Make it measurable.

Finally, you want to decide how you'll keep an eye on thingsā€”regular reports, meetings, carrier pigeonsā€”whatever floats your boat. Ensure your SLA includes metrics that matter to both parties.

Takeaway: SLAs (Service Level Agreements) are the tailored promises that ensure client expectations are met. These agreements are very diverse and adapt to each industry's unique needs. In IT, they might guarantee system uptime or response times, while logistics SLAs focus on delivery schedules and return policies. Clarity reigns supreme; specific, concise language trumps vague promises. Relevance matters; address what truly impacts your service. Measurability is key; vague goals are worthless. Lastly, establish how you'll monitor progress; regular reports, meetings, or your preferred method keeps everyone accountable.

šŸ“ˆ Want your product/business featured in this newsletter?

For an extremely small fee, advertise to TechExec readers who are in positions of influence at Fortune 500 companies. Fill this form

šŸ„° Your feedback matters!

Thanks for reading! What did you think of today's newsletter? Reply to this email and let me know what you'd like to see more of.

If you ā¤ļø todayā€™s edition, consider forwarding this to a friend or a family member.

Thanks for readin