Whenever you’re purchasing transcription services in the business, legal, or insurance industries, many companies find that they have both good and bad luck. This seems to be the case year in and year out, and it’s easy to see why, with all the purchasing models and purchasing decisions that must be made annually. Decision makers are putting their reputations and careers on the line only to have it come back and bite them just by purchasing transcription services. One decision maker once told me that during his tenure with his last transcription services company he hoped that no audits were done to determine whether or not the company is getting what they are paying for.
How SLO&As Increase the Amount of Customers Purchasing Transcription Services
With all the effort and time spent interviewing or designing and reviewing Request for Purchases (RFP), the mistake that I oftentimes see is when the process is complete, contract agreements are written that appear to shy away from Service Level Objectives and Agreements (SLO&As).
When I first got into the transcription services business 17 years ago, we didn’t have anything close to SLO&As. Over time, they became important to a few of our clients, and they also came with big financial penalties. At first, there were feelings of fear on our part, but we finally determined that if we do what we say we’re going to do, there should be no issues at all. The fact that our client retention with major clients has been 17 years, 11 years, 10 years and 7 years would indicate that we do honor our commitments and will continue to do so. This is when I realized that the company that had the stated SLO&As in their agreements with us was actually a tremendous benefit. The companies that don’t use SLO&As in their contract language do themselves a potential disservice. It is a lot easier for the transcription vendor to not have them and as a result can be a bit sloppy or sell services they really don’t have at all, such as their quality assurance.
Do SLO&A’s Really Work Out When Purchasing Transcription Services?
We’ve seen purchasing transcription services with SLO&As work out very positively. Companies consistently get the best the vendor has to offer day in and day out, year in and year out. If the vendor has been rock solid for years, companies can make a business decision to not exercise a SLA if they desire, which builds loyalty with the transcription services vendor and encourages more purchasing of transcription services.