Marketing technology agency LBi has created an iPhone application to discourage people from wasting time and money in pointless meetings.
Aptly named COMA (Cost of Meeting App) the app calculates the cost of any given meeting and displays a real-time tally (as the meeting drags on the cost counter increases).
Users tap the average hourly rate (in euros, dollars or pounds) of those in attendance and the number of attendees, and the app does the rest.
If the costs spiral out of control (or you have too many people in the meeting), a message appears on the screen which reads: “If you are seeing this message, fire your project manager.”
LBI used an example of a meeting between three mid-level creative directors costing around £600 per hour in billable hours, or £10 per minute.
Chris Clarke, Chief Creative Officer at LBi said: “It’s frightening how much time we spend in meetings, the same is true of any business – the contention is of course that its often time wasted. Putting a value on this time is a real shocker, it will make you think twice before over-staffing a meeting or letting it drag on too far.”
The COMA app is currently free and can be downloaded from the Apple App Store here.
Source: www.lbi.com
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