How can I best set up a process that needs to run every hour?

For instance, I need to run a program that goes out and checks
for the existance of new files on a directory. If new files
are found then a program will need to be run to import this
data.

Thus far, I have thought of something like the following:

DO WHILE .T.
lnx = ADIR(lax,'\searchdir\*.*')
IF lnx > 0
DO importprogram
ENDIF
ENDDO

I suspect that the CPU useage will always be at 100% and
a PC will need to be dedicated to only this task.

Is there a better way to do this that can check every
hour or so. Perhaps a class with a timer event.

I suspect that someone has had to create something like
this before... right?