Everyone knows that time is money. But unlike money, most businesses don’t know enough about their time. What did we do to turn time into money today? How much did time cost us today? Such questions are surprisingly hard to answer.
Time is universal in any business. 60% of a company’s cost is time. Yet there’s no easy way to understand time spent and connect it to a company’s work, accomplishments, events, and results.
Multiple systems track time today: CRM, ERP, HR, project management, PSA. But they all do it in different, non-connected, non-shareable ways.Time goes missing because it’s too hard for employees to track, accurately and in real-time. Most time-tracking features were built for the last century, tedious and sluggish, while the world changes in seconds.
This makes it difficult for a company to treat time as a valuable asset. But that’s exactly what it is. Time is an asset. And businesses need to understand how to best use that asset today, and in the future. A thousand person company has around 2 million hours at its disposal in any year. Do we know what our millions of hours got us?
How can we connect all of our time to all of our outcomes, analyze time, understand it, and make predictions about it? It requires a new way to think about and manage time. It requires Time Intelligence. Time Intelligence is important to business in the way “emotional intelligence” is important to people.
True Time IntelligenceTM is much more than the sum of static data and reports. It means businesses can connect time spent to outcomes produced, and understand and deploy time as an asset. Time Intelligence allows businesses to treat time the way they treat money, resources and materials. And this new knowledge can flow back to individual employees, so they can understand their own time and how they are contributing. And manage time so they are more successful. Which in turn makes the company more successful.
Any company that operates without understanding time as an asset is wasting time. Optimizing time, treating time as a valuable asset, is a competitive advantage. Getting you there is a problem Replicon solves. We’ve developed technology for Time Intelligence.