Whenever your organization partners with a third-party vendor, it’s important to set certain quality standards for the product or service you’re purchasing. If your vendor isn’t meeting those standards, your organization could be dealing with issues like decreased productivity, added expenses, operational disruptions, and reputational damage.
A vendor’s performance must be closely monitored and tracked to ensure it remains at the expected level outlined in the service level agreement (SLA). Tracking your vendor’s performance through key performance indicators (KPIs) helps ensure the vendor is meeting its SLA, which is an important element in managing third-party risk.
Download the eBook to learn:
- How to use SLAs and KPIs in your third-party risk management program
- How to align SLAs and KPIs
- Tips and examples for effective SLAs and KPIs
