Corporate Travel & Journey Risk Management – Top 5 Problems for Businesses.

TOP 5 PROBLEMS FOR COMPANIES WHEN ARRANGING CORPORATE TRAVEL


1.No Corporate Travel Policy or Travel Risk Policy

Companies without a corporate travel policy may incur unnecessary costs and face unnecessary risks. Depending on the operations and needs of the company, a corporate travel policy will typically cover travel expense request procedures. as well as security and medical emergencies.  Not drafting, implementing, and maintaining a corporate travel policy can result in unnecessary expenses and risks for companies for a number of reasons. Companies may be able to make partnerships with various hotels, agencies, etc. and receive a discount for volume. If this is not coordinated through company policy, it will be harder to reduce unnecessary costs.  In a corporate travel policy, businesses should also write a detailed procedure for different kinds of emergencies (medical, security, evacuations, etc.). Advice from a specialist security and risk management company, such as Panoptic Solutions will benefit travellers.

2. No Pre-deployment Safety Travel Brief or Training

A travel safety brief and training package is essential for businesses that require frequent travel.  This is not only important for travel to countries with higher security risks, but is also useful when traveling to countries considered benign or of “low risk”.  In other words, differences in culture, business practices, or political climate can create risks for travellers that are inexperienced in dealing with them.  It is important for a travel brief to cover any potential risks unique to that country or modes of travel. Panoptic Solutions offers specialisied Pre Deployment and Journey Management training for corporate travellers who conduct business abroad.

3. No Designated Corporate Travel Manager

A corporate travel manager can manage the “bigger picture” of a company’s travelling.  A corporate travel manager should observe the overall pattern of company business trips, taking account of all categories of expenses, risks, and obverse trends and changes. This exercise will help a company see if there are ways to cut costs and lower risks across the board.  In addition to this proactive role, a corporate travel manager should be available to assist in the event of travel-related emergencies.

4. No Pre-arranged or Vetted Secure Transportation

A lack of pre-arranged transportation from a verified supplier can result in high-costs, lower productivity, and, potentially, safety risks.  In some regions, transportation services are not highly regulated and standardized which can mean higher prices and unpredictable quality.  If a company consistently travels to a particular country, finding and vetting one high-quality transportation service can let a company enjoy better, more reliable transportation at lower costs.

5. No Professional Risk Management Advice

It can be a worthwhile investment to seek out the advice of a risk management professional that specialises in travel risk.  The best advisers are in a position to use their broad experience to help identify and manage the risks that are most pertinent to the specific circumstances of a company.  Lower quality risk advisers may have little more to offer than regurgitating a set of security principles.  Being aware of all relevant risks, knowing their probability and cost to you, and prudently managing them can save money over the long run.

 

For more advice on Journey Management, Security & Risk Management or Corprate Pre-Deplyment Training, contact Panoptic Solutions here today.