5 ways technology can mitigate the risks of ghost and zombie assets
Both ghost and zombie assets arise from improper tracking of fixed assets. Here are five ways techology can mitigate the risks of ghost and zombie assets.
Working with suppliers or contractors? Accounts payable software can help you track who needs to be paid and when.
Regardless of the kind of business you run, it’s almost certain you work with suppliers, contractors, or employees who need to be paid.
You don’t want to waste time struggling to use an unintuitive solution and then get phone calls from your suppliers or employees stating they’ve been paid the incorrect amount, or not at all. Instead, you must know who needs to be paid and when, and then have confidence in your chosen accounts payable solution.
Being able to share, store, and collaborate on documents online is essential to many small businesses.
An accounting solution like Sage Business Cloud can automatically back up client invoices to Google Drive, giving you peace of mind and helping you expedite accounts payable.
Keep in mind that paying suppliers on time will strengthen your relationship with them and help you renegotiate how often you need to pay down the road.
Automating accounts payable will help you improve the accuracy of financial information, save time on business processes, and free up team members to work on other activities.
Taking this step is also useful if you wish to avoid defaulting on suppliers and vendors.
The best way to find and calculate accounts payable is to keep accurate financial records and track what you owe to suppliers and vendors.
If you’re using Sage Business Cloud Accounting:
Both ghost and zombie assets arise from improper tracking of fixed assets. Here are five ways techology can mitigate the risks of ghost and zombie assets.
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