“Time is the most valuable thing a man can spend,” said Greek philosopher Theophrastus. Unfortunately, not everyone got this premodern memo – people can sometimes be careless with their time and productivity at work. Often times, there are lapses in how an employee’s working hours are recorded. This can be due to human error, or in some cases, time theft or fraud, with people appearing to spend more time at work than they actually do.

This lost time can add up pretty quickly. According to studies by the American Payroll Association (APA), companies could potentially be losing up to 7 percent of their gross annual payroll to time theft. This is mostly a consequence of...