Employers often find it challenging to determine how a vendor is performing against a service level agreement (SLA) and agreed-upon standard – the minimum target or threshold for a metric identified in the contract.
Vendors falling below that target may incur a penalty, but without transparency between the employer and the vendor, this could be missed.
DirectPath’s vendor and contract management solutions automate the process of collecting vendor SLAs and calculate penalties for non-compliance.
By collecting vendor metrics in our centralized repository, employers have improved access to information. We provide a web-based form that collects vendor data to evaluate if the SLA has been met. A tracking form displays the results for both the client and the vendor to review.
With DirectPath, data is centralized and accessible—not “locked up” in discrete documents. Employers are able to generate real-time comparisons of deliverables against SLAs through centralized access to data.
Key Benefits to Working with DirectPath:
- Integrates supply-side strategy with the demand-side initiatives
- Increases visibility and accountability
- Automated penalty calculations ensure fees are collected from vendors not performing to contractual obligations
- Improves the time-consuming process of creating, updating and managing HR contracts
- Ensures contracts are negotiated and issued in a timely manner through a proven framework
- Built-in workflow enables simultaneous reviews, edits and approvals in a managed system