International Time Recording Company
The International Time Recording Company (ITR) played a pivotal role in the evolution of time-keeping technology and is a significant precursor to IBM. Established in the early 20th century, ITR was crucial in helping businesses accurately measure and manage the passage of time, a necessity for efficient payroll processing and workforce management.
Historical Background
The origins of ITR can be traced back to the Bundy Manufacturing Company, which was founded by Willard Bundy, an inventor known for creating one of the first time clocks. The time recording segment of Bundy Manufacturing was spun out to form the International Time Recording Company in 1900, with George Winthrop Fairchild serving as its president. Fairchild was instrumental in the establishment of ITR, leveraging the time-recording business of Bundy Manufacturing.
Development and Expansion
In 1907, ITR relocated from Binghamton, New York to Endicott, New York, a move that positioned the company in what would later be considered the birthplace of IBM. The company specialized in producing time clocks, which were essential tools for businesses to record employee work hours.
Formation of Computing-Tabulating-Recording Company
In 1911, ITR merged with three other companies—Bundy Manufacturing Company, The Tabulating Machine Company, and The Computing Scale Company of America—to form the Computing-Tabulating-Recording Company, or CTR. This merger was a strategic move that combined expertise in time recording, data processing, and measuring systems, paving the way for the future International Business Machines (IBM).
Legacy
The legacy of the International Time Recording Company lives on through IBM, which has grown into a global leader in technology and information services. ITR's dedication to accuracy and efficiency in timekeeping laid the groundwork for IBM's commitment to processing information quickly and precisely.