You could pre-drill the hole with say a 1/2 - 1" prior to the 2" so that it doesn't need to center cut. Or single point rough it from a smaller drill out to finish with a different tool. Large drills are not always efficient at removing hard materials in one pass.
If your Boss states the cycle time needs to be cut in half, why has he not stepped up to the plate and given his expertice on how it should be done?
Did someone else select the tools to use and job sequence for the quote?