BCD Travel has announced its financial results for 2018, reporting a 6 per cent increase in sales over the previous year.
Total sales for the TMC hit US$27.1 billion (more than £20.7 billion), including $10.7 billion in partner sales and more than $1 billion in new sales.
John Snyder, president and CEO of BCD Travel (pictured), said: “2018 was an exceptional year for BCD Travel on many levels. Our focus on partnership and innovation, designed to engage travellers and drive intelligent programmes, continued to attract new business and enable current clients to extend the reach of their programmes. It also helped us maintain our industry’s most consistent client retention rate over the past decade.”
Throughout 2018, BCD Travel reinvested more than 40 per cent of its earnings back into its technology and infrastructure. A large portion of that was devoted to the company’s digital platforms, including its analytics and intelligence platform DecisionSource, as well as the trip management software TripSource.
The Travel Management Company: An agency which manages business travel for a company. also expanded mobile booking capabilities through TripSourceGo, which allows business travellers to shop and directly book hotel and air content. TripSource also received a number of new features such as voice-enabled services, receipt capture, biometric identification and “I’m safe” check-ins for travellers during a crisis.
BCD Travel also invested in emerging markets, taking a majority ownership stake in its Colombia operations and announcing the expansion of its global network in South Africa.
Snyder continued: “We will continue to invest heavily in technology, people and our global network. Our focus is to create value for our customers thanks to our digital platform strategy and the most talented people in the industry worldwide.”
BCD Travel won Best Corporate Social Responsibility Programme at the 2019 Business Travel Awards.