Time is Money!

By Khiv Singh No Comments
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Time is Money. Yet few really know whether they are utilizing it optimally. This is especially important at work, where most of us struggle with increasing workload and tight schedules.

Time flies at work. Where does it go?

One problem is Time Leakage.  Time spent on activities often does not match our intent. You may decide to work on a report at the start of the day, but lose minutes and hours on unscheduled discussions with staff, being called by the boss for meetings, and in long phone calls. Other low priority work, but which needs to be done right then, also eats up time.

The other reason has to do with the computer. Those using a PC at work have a broad window to the outside world. One can easily end up spending more time than planned on browsing, checking personal emails and Facebook updates, or chatting online with friends. Various studies have shown that an average of 1.5 to 2 hours per day is lost on non-business internet surfing and tea/coffee break.

In most cases, time at work is not ‘lost’, but is only ‘stretched’. Employees compensate by spending longer hours to complete their work, especially when deadlines loom. That has its own negative consequences – including error-prone work, reduced efficiency, and increased employee fatigue.

Additionally, time spent becomes meaningful information only when it is further qualified with appropriate usage data like activity and purpose.

If time leakage and distractions can be reduced by even 5-10%, it has an immediate positive impact on employee work-life balance. The best way to achieve this is through increased self-awareness. I have seen people keeping tabs on their time through jottings in a diary. But that’s hard to maintain, and it is even more difficult to figure out underlying trends.

Our product, Sapience, automates tracking of time utilization, and infers the activity and purpose based on user’s historical usage and action events. It arms employees with knowledge about exact time spent on projects, corporate and personal work. They get its breakup by meaningful activities such as design time, meetings, calls, and various online applications. There is no extra overhead on the part of the employee because of auto-learning intelligence in the product. Empowered by knowledge of individual time utilization, each person can improve his/her own efficiency.

Of course, Sapience does much more than this. Its capabilities directly help companies to improve their revenue and profitability. We will discuss more in future blogs.

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