Time is money: The organizational value of time
Like clockwork, cars are lined up bumper to bumper on the San Mateo-Hayward Bridge (CA-92) around 3 pm on any given weekday. In 2017, drivers spent an average of 79 hours waiting in traffic in the San Francisco Bay Area – over three days out of one year or nearly 14 percent of a person’s waking hours.
By looking at the cars obediently lined up one after another from my office window each day, I realized that we spend a lot of time waiting idly. For example, we spend an average of 7 minutes in line to get coffee, 15 minutes to get a table at a restaurant, and 32 minutes to see a doctor. These waits stack up over time, taking time away from other more productive activities over the course of our lives.
What happens when waiting impacts entire organizations?
Time is a key component that organizations cannot dismiss. When the market or economy fluctuates, organizations must act quickly to stay ahead of their competition. And it is agility that helps organizations innovate and respond to changes quickly.
Large organizations like Amazon, for example, could lose up to $1.6 billion in sales each year if it has a webpage slowdown of just one second. Or Google, for example, could leave money on the table if it slowed its search results by just four-tenths of a second, losing eight million searches per day. So, imagine the magnitude of revenue organizations like Amazon or Google would lose if they slowed down by a few hours, days, or months!
From speeding up backend processes to obtaining insights from data, every second counts toward an organization’s ability to succeed in improving revenue opportunities or reducing the bottom line.
At SnapLogic, we have helped companies around the world to accelerate their business on multiple fronts. Leading companies using SnapLogic achieve digital transformation, automate business processes, and derive data insights on average 83 percent faster while reducing their implementation time from 6.8 months to 1.1 months.
With SnapLogic in place, organizations spur business growth quickly and without the hassle of having to wait in line to get integrations built. Yes, time is money. What is the value of time for your organization?
See how you can speed up your business with SnapLogic by signing up for the SnapLogic Free Trial.