The Service Revolution - an introduction (in conversation)

The opportunity to turn products into services has never been more possible than with the use of current and new converging technologies. 

In this podcast I introduce the topic whilst in conversation with a friend and colleague of mine, Rob Walker. Rob is now Director of Coeus Consulting and was previously IT Transformation Director at Serco and prior to that a senior IT director for Diageo.

To hear the whole interview please subscribe to our podcast subscription service and listen out for when the full interview is posted up.

Transcript

Speaker 1: 0:01

Welcome to the service revolution podcast series. Our aim is to encourage, challenge and evangelize you and your organization in all things service, especially with technology to hand.

Speaker 2: 0:20

Yes. Okay. Thanks for the time. The conversation that we want to have today of course is about service. As always. We usually talk about service while we've come from where are we going? and I was saying I was up at the rts mode just a couple of days ago and frankly my presentation was actually about the service revolution. So I'd start many of the conversations these days by saying, look, if we look all around us and we see why businesses going that were in the dawn of a new era, right? We've got some of it already, but actually it's just going to increase and it's going to escalate significantly. and I call it a service revolution because I think the time has come and the capability and the technology has got itself to a point where much of what we delivered by way of product, if you like tangible physical, even sometimes product can actually now be delivered in a different model, a consumption based service model. And we see all around us with the new technologies that is, you know, Netflix and Amazon even and the Uber's of the world and everybody else. For some organizations as we know the rolls Royces off the world and others they've been doing, they haven't been selling engines for a while. They've actually been contributing to a miles per hour or whatever else. And B, you pay on a consumption basis, right? Yes. So the, the drive I suppose to everything as a service, it's kind of on and now, and it's not just me saying that and you saying that and that some of the research that I was looking at, that Dell technologies did last year, which is really interesting, really good stuff. And they interviewed about 3000, c suite and seamless once week in, medisize organizations around the globe. 17 different countries, most of the normal industries that you'd expect and 90%, 90%, which is huge for a survey that I spoke of that knowing 80% are saying within the next two to five years, they will be delivering what they've delivered as product on a service basis. And it really is so significant that he takes you back and if forces you to think right, and this is the message that we're trying to convey to the industry as a whole and any industry, frankly, which is, how could you turn what you've had as a product and where you've come from now into a service that makes it much easier to, to buy, consume news, upgrade and so on. Right. And the whole notion of a longterm value as a customer for you and all of that is right there for the taking. Definitely. The other interesting factor that comes out is out of that, that group that was interviewed as well, something like 48% are seriously worried that they won't be in business in the next five years. Good grief and one plus 3000 seniors, senior c suite execs, ice a lot. There's just a lot of, in any credible of, I mean a lot of the journalists see anything or a CSV of, I mean we did have with our service anything over about 150 people that's a credible as credible artistics and here you've got 3000 people. So you've got to take it seriously. And, and, and again this is the message that I want to late to the market is like guys take this seriously because if our senior business leaders are thinking that this is the way they're going back down shore, Susan's the way we're going of slowly mean cause the consumer of the future, the younger, the younger generation to some of the companies you mentioned, they're used to dealing personally and certainly through business they will drive our behavior because that's the we the opening, you know, if I think of, you know, just to, just to some of that[inaudible] some of our clients are conversations with people. I probably have maybe in the footsie 100 docs say's organization's their concern is, is is, is very much in lane in that the disruption that will come from the companies that have got it sussed and can deliver it will start to eat in to their market even, although not in that market today. So, so, so the banking sector, the insurance sector, the FS sector herself as, I don't know if I've said to you before, there is a real concern that the Uber moment as the classic, there's going to come their way where you've got companies like Amazon who've already bought an insurance organization or yes. Yeah. So what they're gonna do, you know, how are they going there or the customer base is anonymous. That ability to cut through legacy people, process customer engagement, all that whole stack and deliver to the end user so seamlessly. And they'll probably have the car by a significant margin insurance premiums that the big guys here in London will not be able to compete with it. And so I think the rug for a lot of companies will be pulled from under them if they don't get their act together and doing start to think about it in

Speaker 1: 5:58

looking at things from a service proposition as opposed to traditional me as thanks for listening. We hope you enjoyed the podcast. We'd love to stay in contact with you and build a dialogue around the service revolution. So do sign up below to receive more outcast as they are produced. Please also feel free to share our link with work colleagues and friends, and remember, it's all about service.