Quick Guide to Identifying and Reclaiming Ghost IT Assets

Did you know that, on average, there is a 12% to 25% difference between what a company says it has on the books and what they really have? Many organizations face the challenge of maintaining complete visibility over their IT assets. You might have a clear picture of what’s in your stockrooms, but what about the devices in your office buildings or even those employees are using at home?

When assets are unaccounted for, they can quietly drain financial resources. Ghost assets, items that are listed on the books but are either missing, unused, or untracked, can lead to financial misstatements, inefficient resource allocation, and compliance or audit risks.

This guide provides a step-by-step process to help you identify and reclaim ghost assets, ultimately improving your organization’s financial accuracy and operational efficiency.

1. Conduct a Physical Audit
   
   
   • Inventory Checks: Regularly perform a physical count of all computer equipment.
     • Tool Tip: AssetTrack Advanced Audit Demo
       
       
   • Tagging: Use asset tags, barcodes, or RFID labels to uniquely identify each piece of equipment.
     • Tool Tip: Asset Tagging Guide
       
       
2. Reconcile Records
   
   
   • Data Comparison: Cross-check the physical inventory with your asset register and financial records.
     
     
   • Discrepancy Review: Flag any equipment that appears in the records but is missing or unused.
     
     
3. Gather Information from End Users
   
   
   • User Feedback: Talk with team leads or department heads to verify equipment usage. Ask employees if they recognize the equipment or know of its whereabouts.
     • Tool Tip: AssetTrack Self Certification Demo
       
       
4. Identify and Classify
   
   
   • Usage Analysis: Determine if the asset is obsolete, misallocated, or simply misplaced.
     
     
   • Categorization: Classify assets as active, idle, or ghost (unused/missing).
     
     
5. Reclaim or Dispose
   
   
   • Recovery: For assets that are misplaced, initiate a recovery process (e.g., reassign to the correct location or user).
     
     
   • Disposal or Resale: For obsolete or unrepairable equipment, follow proper disposal or resale procedures to update records accordingly.
     
     
6. Update Systems and Processes
   
   
   • Record Maintenance: Once resolved, update your asset management system and accounting records.
     
     
   • Regular Audits: Schedule periodic audits to prevent the accumulation of ghost assets.
     
     
   • Training: Train staff on proper asset handling and reporting procedures.
     
     

By implementing these steps, organizations can keep their asset registers accurate, optimize resource use, and avoid potential financial discrepancies associated with ghost assets.

How can AssetTrack help?

AssetTrack helps ensure you can accurately and automatically track and verify your IT assets in real-time, with the data and analytics you need to take advantage of the full value of ServiceNow.

• • Tool Tip: Calculate your Ghost Asset ROI