Could there be a reason to take birth control at the exact time each day?

Ideally yes, : Ideally yes, but practically, it can be hard. If you are on an estrogen/progesterone pill, there's some forgiveness in terms of timing. If you are on the Progesterone only pill (like nora-b), then you must take at same time every day. An idea, if you're worried, is to set an alarm on your phone, or use one of the birth control reminder apps :-).

Maintaining levels: The BCP prevents you from releasing eggs based on a steady level of hormone circulating in your blood. You have some wiggle room with time, but if the body notes a drop in the hormone level you may ovulate, making you vulnerable to pregnancy. This is more likely to occur if someone forgets for a day or two.It is best to take it when you are doing something else you do the same time every day.