On average, companies have a 3-5% error margin between what they have on their books and what they actually have. This creates “ghost assets”: assets on the books that aren’t really there.
You can avoid paying for these assets (as well as the tax, maintenance, and insurance associated with them) if you identify and remove ghost assets using AssetTrack. This is one of the easier ways to justify an investment in an asset tracking solution.
When the Ghost Asset loss gets too big
Reconciling ghost assets without a tracking solution requires a physical inventory. A physical inventory by a third party $6-$9 per asset. This still doesn’t get ghosts to 0 as the report takes a week to assemble, and then gets sent as a spreadsheet to the company to import to their asset table. Not all items will reconcile.
What does AssetTrack do?
AssetTrack allows you to maintain a 1% or lower ghost asset ratio at all times, without needing physical inventories. AssetTrack provides the ability to real time audits, no waiting two weeks to update asset inventory.
Contact AMI to learn more about the ROI AssetTrack can bring your organization.