Using SLAs and KPIs for Effective Vendor Performance Management

Vendor performance is an essential part of third-party risk management, and service level agreements (SLAs) and key performance indicators (KPIs) are valuable tools in the performance management process. So, what is an SLA exactly and how do KPIs substantiate vendor performance? How do you turn performance expectations into SLAs and how do you establish and formalize KPIs? How often should you be reviewing vendor performance and what do you need to do if that performance is not meeting expectations?

In this session, we’ll provide an overview of the vendor performance management process and provide essential details regarding identifying and establishing SLAs and KPIs, how to monitor and manage performance effectively, and how to spot and address declining vendor performance early on to avoid more significant issues later. 

Watch now to learn:

• The importance of risk-based vendor performance management 
• The difference between SLAs and KPIs and how to develop and formalize them 
• The vendor performance management process and intervals 
• Recommendations for more effective vendor performance reviews 
• Key takeaways