Why time-to-value matters?
Time-to-value matters because even if your customers don’t expect faster deliveries however by improving time to value you also fix many other problems.
In this blog when we refer to time-to-value, we mean the total time spend (business days) until the new service/feature/ product is ready to be used by the customer.
Based on the recent survey “product time to market” by 360Stellar it seems that companies are not systematically measuring total time to value.
Source: 360Stellar.com- survey 2013
The different business units and functions have their own measures for work progress, but it seems that the total time to the customer is not measured. Even though everybody emphasis the importance of the customer and servicing customers fast.
The actual speed is not the point or the delivery time. However, if your end to end process is smooth and “fast” it seems that you don’t have so much waste in your organization. (overlapping works, long-lasting hand-overs, …).
Speeding up the time-to-value requires a couple of fundamental issues.
- First, to have a complete understanding of your product-time to market. Meaning all the way until the product or service is in use by your customer.
- Secondly, to have a clear view where the waste is and how to eliminate it.
The business results are achieved even when the small amount of waste is eliminated. Also the job satisfaction gets higher due to more meaningful tasks.
360Stellar community focuses in developing lean ways of working for and with customers – companies, units, teams, etc. If you are interested in getting more information of 360Stellar – and how we could help your company – or join the community please contact us via www.360stellar.com