The Real-Time Revolution – Transforming Your Organization to Value Customer Time
Jerry Power and Tom Ferratt
Coming September 2019 from Berrett-Koehler Publishing
You Can pre-order the book now!
From: Barnes and Noble
From: Penguin Random House
Time is becoming the dominant customer currency. Customers want to spend their scarce time well. For example, when ordering a product, the ideal ordering process would take virtually no time and would be completed effectively. The order would be accurate and complete. Real time is the actual time that placing an order (or any event) takes; however, “real time” has popularly come to mean instantaneous. Instantaneous may not always be possible, but it is an ideal to strive to achieve. So, ideal customer experiences are events that are completed instantaneously and effectively.
Organizations striving to provide ideal customer experiences are real-time organizations. They are the core of the Real-Time Revolution. These organizations are demonstrating that they value customer time. Organizations that come closer to the ideal than their competitors are valuing customer time more effectively. They are becoming more real-time than their competitors. Companies that do not strive to provide customers with ideal customer experiences have not joined the Real-Time Revolution and are in real-time denial. Their survival is threatened by organizations that join the Real-Time Revolution.
To survive and thrive, leaders must transform their organizations to value customer time more effectively than competitors do. Supporting real-time transformation are three related guidelines:
- The real-time organization must be agile enough to detect and respond to changing customer expectations regarding time better than competitors do.
- The real-time organization must engage customers throughout the life of its products and services such that customers view the organization as valuing their time and, thus, meeting their needs more than competitors do.
- The real-time organization will be transformed to value customer time through these core organizational levers: products and services, processes, data, and people.
The value of time is directly attributable to customer satisfaction and thereof any company's ultimate success. In an industry where quality-of-experience and quality-of-service are metrics for key progress indicators, Power and Ferratt highlight the criticality of transforming to a real-time company to meet and anticipate the needs of the customer. As we anticipate the fourth industrial revolution and the fusion of technologies, the books focus on real-time is opportune and an invaluable doctrine of the importance of time as a key market differentiator.”
Verizon Digital Media Services
One of the time-tested aphorisms in the business world speaks to the "time value of money." In Jerry Power and Tom Ferratt’s The Real-Time Revolution, the focus is more on "the money value of time.” In today’s hyper-accelerating world, engagement, agility, and transformation become the key forces for change, while products and services, business processes, data, and people are the currency upon which those forces are unleashed. Time may be money, but speed is profit: Digital Transformation is here, and the sooner companies embrace its inexorable impact, the sooner they will reap the benefits, as laid out in The Real-Time Revolution.
Dr. Steven Shepard,
Shepard Communications Group
Technology advancements are pushing the envelope of time management. As our digital world continues to rapidly advance, this book is essential for anyone in the technology space, or those that use it!
Senior Vice President and Chief Information Officer,
Children’s Hospital Los Angeles
What is the most valuable thing that you could give to a friend, a colleague, or a customer? For many, the answer to that question is TIME. Is the gift of time possible? Can the gift of time be a bond for friendships and colleagues? Could competitive advantage be gained through the gift of time to customers? If you are seeking a path to competitive advantage that does not require economic compromise, you must read this book. Your investment of the few hours of your time you will spend with this book could yield tremendous value to you and your organization as you gain competitive advantage by offering time to your customers.
Randall B. Dunham,
Emeritus Professor of Management and International Business, and Faculty Director, Executive Global Learning Experiences,
University of Wisconsin-Madison
Time is of the essence is a saying that has held true for many years. The Real Time Revolution highlights the urgent need to value our customer's time. Highly relevant and action oriented it is a must read for all leaders striving to stay competitive in today's market place.
As firms look to digitally transform their experience, Power and Ferratt provide a fascinating new lens to think about transformation - the role of time. I am sure their book will be highly influential.
Executive Director of the Institute for Business and Information Technology,
If you are a business owner, or a leader who has been baffled with how to differentiate in today’s digital world, this may be the book that unpacks the mystery. The one thing that we are learning in the digital revolution is that customers are looking for faster and easier. “Real-Time Revolution: Transforming Your Organization to Value Customer Time” is about process, but more importantly about culture. It bridges the dilemma that many organizations face related to responsiveness and personalization with speed. Yes, we need to be fast, but we also need to recognize the individual needs and preferences of those customers. “Real-Time Revolution brings a grounded but practical approach to valuing your customers’ most important resource…time, recognizing that responsiveness, and “real-time” expectations continue to evolve. This book will challenge your thinking and provide you a playbook for moving your organization toward a more Real-Time solution for your customer and potential customers, and differentiating yourself in your market.
Mary Marcus, PhD,
Founder and Chief Innovator,
If you are a business leader seeking to keep up with the transformational power of technology to cope with the increasing demands of the environment and build an enterprise that can cope with rapid change, I urge you to read this book. This book will show you how to engage your customers and empower your employees so that you can join and lead the real-time revolution. A must read!
Andrew H. Schwarz,
Professor, Stephenson Department of Entrepreneurship & Information Systems,
Louisiana State University
In an age where time has become the currency of our lives, Power and Ferratt explore time as a customer-centric value for businesses. They persuasively argue – with real-world, real-time case studies across industries - that, in our increasingly fast-paced lives, valuing customers’ time becomes the key battleground and marketplace differentiator. In addition, they provide a new framework for real-time organisations – those that value time from the perspective of the customer – which will deliver a better customer experience, higher customer satisfaction, and ultimately greater success.
Heidi Taylor Marketing
Tom Ferratt and Jerry Power have come up with a perspective on time and how it is viewed by customers that can raise useful questions relative to one's own products and services. Their perspective emphasizes both the value of shortening duration as well as adding valued engagement while structuring interactions between organization and customer. I found it stimulating to apply these concepts to the enterprises where I am a participant.
Shaughnessy Endowed Professor,
St. Louis University
The Real-Time Revolution is both progressive and practical. Innovation is no longer enough. In a digital age with countless choices, organizations must compete for consumer time and align their operations to do so. This book is a playbook for Digital 2.0.
Chief Information Officer,
City of Los Angeles
In this book Power and Ferratt have transformed the currency of companies from economics to time. By relentlessly focusing on the importance of time, the authors provide an elegant prose, with copious illustrations that can help companies rethink their provision of customer experiences. This eminently readable book offers a useful framework in the form of a set of levers that can help leaders make the transformation happen!
Distinguished Professor and David D. Glass Endowed Chair in Information Systems,
University of Arkansas
This book explains very well a paradigm shift that is going on and processes needed to transform new age customer experience for real time methodologies to implement across boundaries within and outside of an organization. The RTMR process defined provides a good tool that could provide benefits using technologies like IoT. I would highly recommend this book.
former Vice President and GM, Mobile and Cellular IoT Business at Marvell
In an era in which real-time response capabilities are increasingly essential for organizations‘ digital transformation, this book is required reading for leaders who want to understand the levers that help organizations fully embrace the value of customer time.
Professor and Dean,
Darmstadt University of Technology, Germany
In this very original and important work Jerry Power and Tom Ferratt explain the profound significance of firms now being able to leverage ongoing real-time relationships with customers and thereby improve the quality of customer time. This is not just a matter of being fast or better coding. In a nuanced and practical fashion—armed with diverse illustrations—the book identifies a diverse set of competencies required for capturing real-time advantage, including speedy decision making, sophisticated analytics, re-engineered processes, innovative technology, agile strategy, adaptive organization, switched-on cultures, and talented people.
Former Professor and Dean Central European University Business School,
Central European University
Great read! Valuable insights and advice on how organizations can be designed and managed in order to be effective in today’s rapidly changing highly competitive world.
Edward E. Lawler III,
Director of the Center for Effective Organizations and Distinguished Professor,
University of Southern California