From the day that punch card were invented to the technological capabilities of present today—a lot has changed! Historically, paper punch cards were ubiquitous at nearly every business and organization across the country. The technology involved in using a punch card consisted of a mechanical press that punched employee’s time when they arrived to work and when they left.

Ah, time. There’s never enough of it to go around and especially as a business owner, your time is at a premium. For that matter, when your bottom line is at stake (and it is, make no mistake), so is your employee’s time. Employee time and attendance tracking is one of the most critical factors affecting the profitability of your business and your prospects for future growth.

Labor costs are one of the largest components of any business’ overhead. It’s just a part of doing business; obviously you value the contributions your staff makes to your success and the hard work they put in each day and want to fairly compensate your employees. However, there are always a few unscrupulous or simply opportunistic employees in any company and the time theft committed by these staff members can cost you a staggering sum over the long term.