That corporations invest major money in sports sponsorships, tickets and luxury suites is no longer news. Sports is, of course, big business.
But many corporations continue to view their sports investments as "entertainment" --- and account for them that way. And it is news that more than 40% of this valuable asset is languishing, locked away in file cabinets, desk drawers, and who knows where. Indeed, the fact is that tickets are not being used effectively -- if they are used at all.
That's hardly an entertaining result.
From small businesses to the Fortune 1000, sports and entertainment tickets drive new customers, solidify relationships and offer employees some attractive incentives. Without controls, however, ticket assets lead to significant waste, abuse and employee fraud -- which, in turn, can result in rather nasty audits ranging all the way up to tens of millions of dollars. That's an expensive ticket.