When payroll executives implement time and attendance systems to automate payroll, they often miss the chance to facilitate greater profitability throughout the entire company. These executives are, of course, payroll experts. They are usually not, however, experts at project management or billing automation.
The time data they collect, if collected appropriately, can also be used to automate project management, project costing, project tracking and project estimation improvement, as well as for internal, external and reverse billing automation. Most payroll and HR executives know little about these subjects, but increasingly, they are being asked to rise to new challenges.
These new challenges are being caused by the tectonic shift from capital businesses to people businesses. This is a shift of valuing time as much as money. About 50 years ago, when most people twisted bolts in a factory, workers were not considered volunteers, they were not empowered, and managing the money of the company (i.e. the capital) was much more important than maximizing the time and knowledge of the worker. Such businesses are called capital businesses because power and wealth flowed from the capital.