Shopify calculates cost of unnecessary meetings

COLUMBIA, S.C. (CNN)—How many times have you been in a meeting and thought that it could have been an email?

One Canadian company understands that sentiment and is trying to show that time is money and the company is wasting it on unnecessary meetings.

Shopify rolled out a tool called Meeting Cost Calculator internally Wednesday.

It calculates the cost by using average pay data, number of attendees and the length of the meeting.

For example, a half hour meeting with three employees can cost the e-commerce company anywhere from $700 to $1,600.

The calculator predicts Shopify will see a 15% reduction in overall costs if they simply get rid of just three meetings per person in a single week.