Service Level Agreement For Accounts Receivable

A recently published peercastTM in Peeriosity`s Accounts Receivable (O2C) research field showed a large consumer goods and services company whose global activities share their experiences in designing and managing service level agreements for order-to-cash for EMEA (including Europe, Russia, the Middle East and Africa), North Asia and South Asia (including Australia and New Zealand) service centres in the Philippines and China. Ultimately, the key to exceptional customer service comes down to customer satisfaction. But making customers happy while providing efficient service and cost control can seem like contradictory efforts. The most common S.A. in the area of after-sales services in the OPL sector helps to reconcile and harmonize these objectives. THE SLAs, which are kept on track by carefully selected KPIs, plan a fruitful relationship between a company and its BPO supplier. They define a clear set of rules that keep everyone on the same side, while analyzing where improvements can be made. With a well-structured ALS, BPO customers and suppliers can move forward with the certainty that both parties know exactly what has been agreed and what level of service should be met. And ALS and ongoing service level reviews (LRS) provide both organizations with an excellent forum to effectively communicate operational performance and address issues.

If this is done correctly, the SLAs in BPO ensure that both parties understand their responsibilities and focus on the right areas, while the metrics used to measure service are defined. They also create accountability and communication, create a dialogue on key issues in the process, and provide corrective action and detailed actions when agreed service levels are not met. SLAs in the BPO industry are ultimately determined by the unique requirements of an organization and the metrics that are most important to its success. There really is no “One Size fits all” set of metrics. In this blog, however, we give an overview of the valuable service level metrics that companies can take into account as part of their BPO contracts. The objective of the new service level agreements was to measure The performance of Global Shared Services in providing services to customers and stakeholders and 2) to identify opportunities to reduce costs and improve efficiency. SLAs also facilitate communication through monthly service level reviews (LRCs) that allow participants to get to the bottom of problems so they can be easily corrected. For example, a significant increase in the duration of customer calls can help detect product problems before they damage the company`s reputation. The AP-SLA may require the BPO provider to achieve a 98% accuracy rate for invoice processing, which significantly reduces the amount of errors. Another client may prioritize processing speed to avoid residue build-up. Quick responses to supplier requests are another common priority of AP service level metrics, in order to maintain strong relationships.

And in a customer service-related ALS, KPIs can measure: If your company uses service level agreements for order-to-cash processes, how detailed are the agreements and how have important stakeholders and customers participated in setting performance expectations? To support peercastTM, two iPollingTM questions were asked to better understand the breadth of the members` experience. The first question was asked about the type of service level agreement, which is mainly used for order-to-cash processes.

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