Typically, companies manage these assets using manual processes such as spreadsheets and email. Recognizing the inefficiencies of these arcane, error-prone methods, some have tried to create their own in-house inventory management systems to manage tickets, only to find that these "solutions" prove costly and require even more manpower.

The spreadsheet approach -- the most common -- poses serious risks. It offers no tracking, no accountability, and no centralized system for asset management. More importantly, it is generally created and managed by professionals with no financial or compliance experience. Companies spend millions of dollars a year on sports tickets, but research shows that 43% of that investment is squandered. This kind of waste translates to lack of accountability -- and more red flags (itself potentially costly.)

So what if a company goes cold turkey and dumps its spreadsheets, at least for this purpose. What should take its place?

Consider: Any solution should track who goes to a sporting event, with whom, and what business was generated. Getting a handle on tickets and suites means doing a number of things at once (think of Kobe Bryant accomplishing a triple double, to borrow a phrase):