The growing importance of risk management in business travel planning

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Businesses across the world are paying greater attention to the importance of managing foreseeable risks when developing their approach to corporate travel.

This development has been highlighted in the latest Ipsos MORI Global Business Resilience Trends Watch for 2018, commissioned by International SOS, which has shed light on the role that Travel Management Companies (TMCs) can play in safeguarding the health, safety and security of the global mobile workforce.

It was revealed that perceived safety risks in different parts of the world led 42 per cent of organisations to modify their travel itineraries in 2017, with 58 per cent doing so over security concerns, followed by 43 per cent who did so due to natural disasters. High country-specific risk ratings and civil unrest were also cited as common factors.

Overall, 63 per cent of business decision-makers perceive travel risks to have increased in the past year, down from 72 per cent last year. However, despite awareness of potential risk remaining high, only nine per cent of organisations updated their sustainability programmes to include travel risk policies over the last year, while ten per cent introduced a wellbeing policy.

It was also shown that 16 per cent or fewer of the businesses surveyed this year were taking steps to monitor the number of road traffic incidents, to update their travel risk policy to include diversity-related issues affecting LGBT, female or disabled travellers, or to introduce programmes for people to understand existing health issues while away on business.

Rob Walker, security expert at International SOS and Control Risks, said: "Success in future global mobility programmes will be those that include consideration of the changing demographic of the mobile workforce and new marketplace dynamics, including the increase in use of shared economy services.

"The immediate obvious risks, such as the recent hurricanes and unforeseeable security incidents, will see organisations scrutinised in terms of preventative measures and recovery."

By automating its mid and back-office systems with ProTAS, your TMC can become more responsive to potential risks. Contact ProCon Solution now to find out how.

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Phone: +45 4363 2266