With online dating a lot of time can be saved. You get the opportunity of quickly eliminating the people that you do not like as you learn more about them. Then, you only date or meet those that are of real interest, allowing you to save much time.
We should also add the fact that you get to talk with the person before you actually meat them through email or through online chat. It is easy to set up meeting time when both of you are free, allowing everything to evolve faster.