In the event of a service failure, be it an online downtime, a power outage, or a flight delay, customers are often entitled to financial compensation from their service provider, thanks to a Service Level Agreement or SLA.
As highly competitive markets have a strong commercial incentive to use SLAs to acquire and retain customers, the existence of SLAs remains largely unknown, their terms and policies are often misunderstood, and even the savviest SLA policyholders struggle to reap their benefits.
Over the past 30 years of adoption in the Telecom industry, the sheer complexity of documenting, tracking and enforcing service commitments using SLAs has turned the framework into an elitist Governance tool for well-educated practitioners, often Big Tech and Fortune 500 companies.
It is easy to see how, as a legal answer to an engineering issue, the framework has been failing to fully enable service commitments to live up to customer expectations. Especially for individuals, and small businesses.
Fortunately, Stacktical, an IT Service Management and Governance startup from Paris, has a solution to better balance the downtime risk that customers are willing to bear, with the up-time and compensation capabilities of service providers.
Their newly released platform enables service providers to effortlessly turn SLAs into smart contracts on the blockchain, track the up-time of contracted services and automatically execute downtime compensation scenarios when agreed up-time levels are not met.
The DSLA Network is already compatible with any publicly reachable online service and operates on the Ropsten test network.
The team plans on enabling DSLA service credits in reward scenarios soon. They’re designed to boost employee morale and incentivize service level objectives.
Ultimately, customers and employees will be able to use their DSLA compensations and rewards to redeem service collectibles and company perks, courtesy of partnering providers.
Stacktical is hoping that by increasing the transparency and by automating the enforcement of SLAs, they will enable a wider range of individuals and business customers to reap their benefits, while also helping providers drive better Quality of Service and business results with the framework.
Wilhem Pujar, CEO and co-founder of Stacktical said,
“Recent studies have shown that a 5% increase in customer retention can increase profit by up to 100%. In the near future, beating your competition as a service provider will be more about service governance, than ad spendings.”
Stacktical has recently partnered with the XYO geospatial data network to introduce location-aware SLA to airports, airlines and other travel service providers.
In their press release, the company shares its ambition to tackle the 30 billion dollars yearly cost of flight delays and provide consumers with a better alternative than the existing European EC 261 Flight Compensation Regulation.
Recently, Stacktical has partnered with the p2pb2b cryptocurrency exchange to offer up-time, deposit and withdrawal delay guarantees to retail traders and institutional clients.
Interestingly, the DSLA token is also available for trading on the P2PB2B exchange, which demonstrates the team’s ability to be innovative in their partner pipeline development strategy.
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Disclaimer: This a paid post, and should not be treated as news/advice.