We are about one month into a three-month experiment where we are asking people to track time on their activities (mix of IT and developers). For some, it is a struggle with all the complaints when you try to make a small group "corporate". For others, they are having huge revelations of where their time is going that (I think) has been valuable.
What I've been trying to communicate is that the time tracking data has nothing to do with the individual, and is not being used as a measure of performance (it really isn't, and it isn't on anyones performance plans). What it IS being used for is a way for us to communicate with senior leadership to better demonstrate our value to the organization (in terms they are more familiar with). Basically, the "IT needs to better speak to the business" conversation that's been going on for ~15 years or so now. I suppose you could also tie it into the topic of when a startup grows beyond x people, with x in the range of 30-50 people.