GBTA with iJET Unveils New Tool to Help Enterprises Evaluate their Travel Risk Management Efficiency

By CIOReview | Friday, April 15, 2016

Travel Risk Management Maturity Model (TRM3) Self-Assessment ToolALEXANDRIA, VA: The Global Business Travel Association (GBTA) Foundation, a business travel and meetings organization, in partnership with iJET, a provider of intelligence-driven, integrated risk management solutions, has rolled out a new Travel Risk Management Maturity Model (TRM3) Self-Assessment Tool.

Based on a set of key process areas (KPAs), the TRM3 self-assessment identifies maturity of an organization’s travel risk management plan. It helps users to verify which TRM3 maturity level best portrays the organization’s travel risk management program and where users should focus their time and resources to further improve their TRM program. It also helps direct competent, effectual enhancement across several course disciplines, like legal, travel, security, safety, HR and business continuity, within an organization.

“The single biggest issue for our members right now is duty of care,” says Michael W. McCormick, Executive Director and COO, GBTA. “The new TRM3 tool is designed to help companies evaluate their risk management program and identify opportunities for improvement.”

The self-assessment tool evaluates these ten groups— policies and procedures, education and training, risk assessment, risk disclosure, risk monitoring, risk mitigation, response and recovery, notification, data management and program communication. Depending on the assessment results, the tool categorizes the program from “Level 1" defined as reactive, up to “Level 5,” which is defined as optimized that denotes  the travel risk program is incorporated throughout the enterprise.