NCR Punched Paper Tape
Getting current financial P & L for a family business was a drawn out process….often it took weeks to get up-to-date reports. Everything at that time was done by hand….of course this was well before personal computers were available.
I decided we needed better and more relevant information on how we were doing. The technological solution (at that time) was a NCR electronic cash register with punched paper tape. At the end of the month we sent the tape for processing and in a few days the profit and loss statement was returned. The balance sheet data was sent to the accountant.
While we were able to have more current information….the process was cumbersome and not cost-effective. We were only about 15 years too early!