Asset intensive industries like mining or utilities need to maintain an accurate inventory of fixed assets for financial success. These assets must be carefully tracked and maintained.
A shocking fact is 12 to 25 percent of assets recorded in a fixed asset ledger don’t exist. These shadowy assets are called ‘ghost assets’ because they haunt many organizations. They exist in the accounting ledger but are physically unavailable, meaning they can’t be registered or recorded.
This white paper decodes the dilemma of these ghost assets and how an automated fixed asset software can mitigate the challenges, ensuring highest levels of financial compliance.