“productivity software analytics” is being offered by Time is Ltd., a Prague-based startup to help companies gain insights from employees’ use of Slack, other enterprise software, has raised €3 million in funding and Office 365, G Suite.
The investment will be used by Time is Ltd. to continue building the platform for large enterprises that want to better understand the patterns of behaviour hidden inside the various cloud software on which they run. Leading the round is Mike Chalfen — who previously co-founded London venture capital firm Mosaic Ventures but has since decided to operate as a solo investor — with participation from Accel.
“Time is Ltd. was founded… to help large corporations and companies get a view into insights and productivity of teams,” co-founder and CEO Jan Rezab tells me. “Visualising insights around calendars, time and communication will help companies to understand real data behind their productivity.”
Powered by machine learning, the productivity software analytics platform plugs into the cloud software tools that enterprises typically use to amalgamate across different departments. It then analyses various metadata dragged from these software tools,which teams are meeting, or such as who is communicating with whom and time spent on hanging, where and for how long as per various calendars. The idea is to enable managers to gain a better understanding of where productivity is lost or could be improved and to tie to business goals changes in these patterns.
Rezab cites the example of a large company undergoing “agile” transformation.he says “If you want to direct a massive company of 5,000 plus people, you defiantly should understand the influence of your actions a bit more much earlier, not after the fact,” . “One of the hypothesis of an agile transformation is, for example, that managers really get involved a bit less and things work a bit more streamlined. You see from our data that this is or is not happening, and you can take corrective action.”
Sales is another area that could benefit from productivity analytics, with Time is Ltd. revealing that most sales teams actually spend the majority of their meeting time inside the company, not outside as you would think. “The structure of these internal meetings varies; planning for these events or just on-boarding and education,” says the Time is Ltd. CEO. “You can, so to speak, follow the time from revenue to different teams… and then see over time how it changes, and how it impacts sales productivity.”Or it could be something as simple as a large company with multiple offices that is conducting too many meetings. Time is Ltd. is able to show how the number of meetings held is increasing and which departments or teams are instigating them. “You can also show the inter-departmental video meeting efficiency, and if the people, for example, often need to travel to these meetings, how long does that takes versus digital meetings — so you can generally help and recommend the company take specific actions,” explains Rezab.
Meanwhile, investor Mike Chalfen describes the young startup as a new breed of data-driven services that use “significant but under-utilised datasets.” “Productivity is globally one of the biggest software markets, but for large businesses, lacks deep enterprise analytics to drive intelligent operational management ” in a statement he says .
That’s not to say Time is Ltd. which includes Microsoft itself isn’t without competition, .Rezab says “Our biggest competitor is Microsoft Workplace Analytics,”. “However, Microsoft does not integrate other than MS products. Our advantage is that Starting with Slack, SAP Success Factors, Zoom and countless others we are a productivity platform to integrate all of the cloud tools.”
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