Stephan & Mike: Connecting with BCD's leaders

As we close out 2024, our final season 2 episode connects Chad and Miriam with BCD's CEO, Stephan Baars, and CCO, Mike Janssen. Through the many laughs and fun stories on this episode, Stephan and Mike talk about the business travel industry as a whole, where BCD will be making investments, and what to expect from in 2025. This episode also includes personal messages to BCD colleagues, partners, customers and more from both Stephan and Mike ... as well as an update on Mike's love of avocado toast. 

Stay plugged into BCD social media channels for the announcement of our season 3 launch date. 

Learn more by visiting https://www.bcdtravel.com or https://www.linkedin.com/company/bcd-travel/

Transcript

Intro:

Welcome to Connections with BCD Travel, an ongoing conversation about the modern-day travel program, the impact of technology, and how travel buyers can take control and drive change. What are we waiting for? Let's start connecting.

Chad Lemon:

Hello everyone. Welcome back to Connections with BCD Travel. I'm your host, Chad Lemon.

Miriam Moscovici:

And I'm Miriam Moscovici. Thanks for tuning in to our last episode of 2024.

Chad Lemon:

Oh, Miriam, this year just flew by for me. I cannot believe we're already on the last episode.

Miriam Moscovici:

I know. I can't believe we recorded over 20 episodes so far this year.

Chad Lemon:

Yeah, exactly. And thankfully, you and I will get a little podcast break for a few weeks and then right back to it starting in January of next year, but we'll talk about that later. I am looking forward to this episode though.

Miriam Moscovici:

Yep. It's the end of the year and it's our last episode, and that means we get to have some important people on the pod and you know that always gets me excited.

Chad Lemon:

Yeah, for sure. On our last episode, you heard about the State of the Industry and kind of what happened in this last year and what we're looking forward to in 2025. But on this episode, we're talking to BCD CEO, Stephan Baars, and BCD CCO, Mike Janssen.

Miriam Moscovici:

And I'm looking forward to talking to them about how the year has been for BCD, what they're excited about, and hearing what they have to say to all of our customers. So if you're ready, Chad, let's do it.

Chad Lemon:

Let's do it. Stephan, Mike, welcome back to the podcast. It's hard to believe an entire year has passed since we last heard from Stephan's first week on the job, and Mike's love for avocado toast. So first question for both of you has to be, how has the last 365 gone for both of you?

Stephan Baars:

Yeah, thanks for inviting us. It feels like a long time, so I can say some things are changing and have changed, some things will stay. So we are still on avocado toast, that's still Mike's favorite, and I can say that because we had a long budget session for more than three weeks and it was all about avocado toast every day and every night. But joke aside, it was a super exciting year so far. We had good success as BCD. While I think it is fair as well to say that the world around us has created some difficulties. We are facing wars around the world in Middle East and in Europe, elections come and go.

So in Europe they're still coming. And the environment for BCD has changed a lot. So we got a lot of recognitions, we got a lot of growth. We have done a lot of investments and most important, we have improved a lot for our customers. All in all, I can say 2024 has been, for me, a very good year. We left some targets for 2025, and the most important one looking backwards is my little girl got married. So most important.

Miriam Moscovici:

Yes.

Stephan Baars:

Mike, what was your year so far?

Mike Janssen:

My year is up to like 321 avocados eaten so far, feeling good. I'm feeling healthy. Come on. I'm doing great, man. I wish this was a video, not just say a podcast, but the year has been really good. It's flown by. It's been fun. As you said, Stephan, we've had some really good successes as an organization, but we've had some big challenges too. So some things we have to keep refining, getting better at. But you added in a little bit of personal piece there. And I'll say mine's kind of down the daughter-dad relationship as well. I just had the highlight of my 2024. My daughter's a track runner, she's a hurdler. She made it to state championships in 2024, and she won the 100 hurdles and the 300 hurdles. So two times state champion couldn't be prouder as a father. And I'm already excited to see what things I can do to embarrass her this upcoming year because as you might imagine, I'm not that quiet dad just sitting there watching.

Stephan Baars:

You're not that fast, Mike. I know that. I know you are not that fast, Mike, so watch out.

Mike Janssen:

Oh, I'm not. I am not. But that was the highlight of my 2024 from a personal standpoint, but it's been a great year.

Miriam Moscovici:

Mike, on our last podcast in 2023, you talked about significant investments that you were excited the company was making into technology and other areas. So can you give us a progress report? How are those investments paying off?

Mike Janssen:

A lot of ways to look at, there's always the return on investment, there's always the economic payoff and that, but as you've heard me talk before, I just really look at this industry and us as a company. First and foremost, this is a service business, taking care of people, taking care of travelers, keeping them safe. So one of the investments we made that was just dynamite, was our contact center modernization. We've put in one platform around the globe now that allows us to just have so much more standardization and interaction with our travelers that allows them to have a more custom experience, a better experience when they're making their reservations through us.

And already we've seen that bring down our average speed of answer. We've already had great feedback from travelers on that experience and it was probably the largest transitional project BCD has ever done in our history. And so much credit to the teams for what a great job they did there, how well that went. And we have just scratched the surface on what that's going to allow us to do in the future. So that being so important to us, but if you can allow me, I'll throw a couple more out there.

Chad Lemon:

Yeah, I think we have time for that.

Mike Janssen:

When you look at TripSource and what we continue to develop with our platform there, we now have some of our largest customers using TripSource on a global basis. We saw in 2024, a 184% growth year-over-year. We continue to expand our hotel capabilities. We put incredibly lofty goals out there for 2024, and we're actually even 6% ahead of the goals we set in 2024 for growth on hotel. And then lastly, I'll just throw out there as a teaser for next year, some things we're doing in virtual pay and some areas we're taking a look at and starting to beta to see if we can really enhance some capabilities through BCD Pay as well. So I would say all those have paid off well for us from a customer experience standpoint, but it's also driven significant savings for our customers as well.

Miriam Moscovici:

Stephan, as Mike said, one of our biggest projects this year was in support of our service centers. I've seen all the photos. I know by now you've seen almost all of them all around the world. So what should our listeners and our travel community know about these service centers around the world?

Stephan Baars:

Yeah, first of all, there are a few countries left, but there they're still on my travel list, 2025 is coming. But yeah, absolutely right what Mike has said, let me build on this idea of technology in the service of people. BCD, we are a very technology-driven, human-centric company. Or maybe I should turn it around. We are human-centric and technology-driven, and if something goes wrong on a trip and we all had this experience, then what do you recognize? You recognize the person that has helped you out of your misery and that supported by technology. So wherever I go, and Miriam, you pointed that out, I am amazed by the energy that our people, our BCD Travel employees and colleagues bring to the table and how dedicated they are to our customers and to get them service.

There are certain important things we want to do in the future, and that is our, let's say our follow the sun principles. As a global company, we have such a commitment to our customers on a global base and we should never forget that the key is our employee base and very much supported by outstanding technology.

Chad Lemon:

Yeah, very well said. Both of you. Mike, you probably anticipated me bringing this up, but there's been so much happening in our industry - consolidation, new entrants, more. Do you find yourselves talking differently about the value of a TMC than you did perhaps a year ago?

Mike Janssen:

Yeah, you know what though? We've been having change in this industry for decades. We've had new entrants, we've had consolidation, we've had new focuses. So I don't know that it's all that different than what we've experienced in the past. And I think one of the things that has really been powerful for BCD Travel is our consistency, our foundational success, the years we have to look at what we've accomplished. And so I don't think we're doing things necessarily different right now, but we are emphasizing some things maybe more strongly than we have in the past. Because we do have all these, I'll say future selling going on, where people are really trying to focus the industry on this vision that could come and what could happen there. And much of it isn't even based in necessarily here's what it's going to bring that's beneficial to you.

It's almost like I just want to try to get people focused on the future and something different as opposed to really what's reality, what has been accomplished and what can be accomplished. So I think for us, we're trying to even more strongly emphasize that to have a strong vision is important, but to ensure that you can articulate what you think the value of that vision is going to bring to the industry, to an organization is important. And then for us talking about how we've been a leader in this industry for decades, leading in innovation, reminding people that BCD had the first or one of the first direct connects to an airline with Lufthansa, that we were one of the first companies to ever build centralized fulfillment for OBDs. That for us, continuing to have a vision steeped in foundational success is what we think is differentiating. We think that is what gives us the credibility to buy in to what we're saying the future can look like.

Stephan Baars:

And I think, Mike, you're talking about these new entrants and I think it is totally right to point out that there is a significant importance of the proven successes, as you have said. And just to spill it out there, make it clear, BCD has always and will always welcome in new innovators with open arms because that helps us a lot to improve the service for our clients. And that's what it is all about. And we have in our client program for a reason, the BCD marketplace, a great place as Miriam knows very well, a great place where we offer access to 60 industry leading technology companies. And they are working in the field and category of travel risk management and visa services and group travel and travel wellness and risk management and so on and so on. And our huge, multiple large customers who are using these services, they sometimes use four to five to six of these services, where we connect our travel program with the services of a third party provider.

How cool is that? And if we identify together with customers, other tech solutions that they're already using in their company today, we enable through our BCD development hub or developer hub, we enable the connection to our data, our expense data, and give them real time access to a lot of information and help them to improve the situation for them. So the one who is saying that we are not open for new innovators is so wrong. We always have done that. Mike gave some examples and Mike and I talk a lot about that. We are a company with open arms, welcome those new entrants, but they have to prove themselves. As I keep on saying we are a travel agency with thousands of customers. That's something that others still have to achieve.

Chad Lemon:

Okay, Stephan, maybe a tricky question to answer, but you mentioned before budget season just finished for BCD. Who are you writing a check to? Who is getting the investments? Tell me all the gossip, what is going on?

Stephan Baars:

Chad, I answer that with a question back to you. Do you expect anything from me from the budget process? So let me check.

Chad Lemon:

100%.

Miriam Moscovici:

No comment.

Stephan Baars:

So I can tell you there was one category that we had to double our budget and that is the consumption of avocados during a budget period. Very sure that's already in for 2025. But on a more serious statement, I think you heard me saying in the last broadcast, and if not, then I repeat it. The general philosophy for us in the budget process is writing checks where we can focus on the return of investment first. I think we owe that not only to our customers and employees, but as well to our shareholders. So what we are doing right now is for 2025 and beyond, very important, we look into the longer term future, not just one year, we double down in certain areas such as hotel - enormous opportunity. You have heard that in your broadcast before. Clients want us to bring their spend on the hotel site much more under control and help them with the management as we have such a great reach with our hotel program, Stay.

So they want to influence us good behavior for their travelers in their buying decision because they identified that there is a leakage on their side that travelers go outside the norm and buy hotels somewhere else. So that is an area. The other one is as a global player, we get a lot of ask for regional solutions while they want a global consolidated travel program. And we know those that travel the world, that there are nuances around the world in the way how certain markets work. We can talk all day about a global TMC. If you ignore country insights and regional differences, you cannot be successful. Hence, we need to find the right balance between global design products and regional deliveries. And the other one Mike was talking about that, TripSource. TripSource is something that we firmly believe in, and it goes beyond a traditional OBT for our customers in so-called unserved markets or even in the total program that they would wish us to work with them together on.

And sometimes they want combinations of solutions in unserved markets and for their broader program. So we will enhance and continue to enhance the investments for TripSource, not only with the content that is getting into the market. And we all experienced in 2024, the content fragmentation that we have seen. So our solution will bring the engine, not the energy, the energy as well, but the policy engine, in providing single point of configuration for the travelers and as well for our consultants as well as the third party OBTs, and we call it TripSource. And then there is an area that Mike touched on as well, CCM we call it, Contact Center Migration, that has given us a new tool where we know we are at the beginning, but at a very important beginning. So we will continue to do investments, enhancements in that area to optimize the process not only for our employees but as well for our customers, and offer them more solutions that makes travel even easier.

Chad Lemon:

Mike, I know you always judge our success as a company based on our industry leading retention. I think that's fair to say. And as we've hinted to and to brag a little bit, we've won The Beat's Most Admired TMC again for over a decade consecutively[1]. We just won Newsweek's Best Customer Service in The Travel Space. Talk to us a little bit about how those awards make you feel.

Mike Janssen:

Fantastic. I mean, how are you not going to feel good on something like that? But it's pretty amazing. And I think it's a testament right to the people at BCD and the relationships they build, the trust our clients have for us, the trust our partners have for us. I think we've always been very, very good at trying to be set in a reality that we deliver what we promise or we sure as heck go over and above and beyond to make sure we deliver what we promise. And I think that mindset - being a service oriented company, delivering on what you promise, trust that Stephan has talked to and mentioned a few times through this conversation - all these things really help us build good relationships that have paid off very, very well for us.

So it makes me feel fantastic. I mean, I think this is now number eight in a row, but it also gives me a little bit of trepidation as well, right? Because competitive, we all are. We want to keep the streak going. So it puts a little bit of pressure on you, but it feels great. I mean, honestly, it just feels really good because you got a lot of people stepping back and saying, "Yeah, that's who we admire. That's what we strive to be." And that means a lot to us.

Stephan Baars:

And as you said, Mike, a lot of hard work from really everyone, from every employee who has in his mind the service for our customers. And that's a huge recognition that we have received so many years in a row.

Chad Lemon:

Okay, Mike, I have another one for you. Let's look forward into 2025 a little bit. What should customers be excited about and what can you tell us what's on your mind?

Mike Janssen:

Yeah, well, I think there's a lot. And one will be, if you haven't met Mr. Baars yet, you will be in 2025, because-

Stephan Baars:

I don't know if that is so exciting, Mike.

Mike Janssen:

He is our top traveler. I think our volume grew 10% merely because of his travel in this year. So coming to a theater near you. But no, honestly, I think let's go with what we started with, which is that contact center. In fact, let me step back and just say, I think what I'm most excited for is everything we keep focusing on, everything that Stephan talked about in where we're making investments and things that we've put money into in 2024 that we're seeing a return, you kind of get a consecutive thread running through that. And it's really how do we keep using technology? How do we keep evolving to enhance the service that our clients and our travelers get from BCD? How are we able to interact with them better in a real time to make good decisions? How are we giving them data that's going to continue to help them make great decisions?

How are they going to feel that they are being serviced when a disruption happens, which we all talk about happens in travel. If you're out there traveling, it's getting more and more difficult with weather, with political disruption, all the things that are going on in our world that people, it's just not as smooth at times and knowing somebody's got your back is really important. So I think people need to be excited that BCD keeps putting its money in its investments into being there for our travelers when they need them. Whether that's TripSource, whether that's AI. But I will give you one that's a little bit different that we haven't touched too much on while talking here. That's sustainability and that's so important to so many of our customers that really are looking at trying to achieve their net-zero goals and they need help in doing that.

Advito, our consulting arm, has been great at that over years and developed a lot of tools that help it. But what's real exciting for 2025 is we've entered into a partnership with SQUAKE, which is going to be the industry's first comprehensive, fully integrated sustainability offering. This is going to really help companies, it's going to enable companies to share information and influence decisions and alignment with what their overall goals are. It's going to empower business travelers to make the right sustainable buying decisions at the right time. It's going to allow program managers to track and report on progress against goals. So again, overall, you're just going to keep seeing us build this capability of interacting with our clients and our travelers with great data, great recommendations in a real-time situation. So that's what I hope everybody keeps seeing and are excited to see more of in 2025 from BCD.

Chad Lemon:

And Stephan, anything happening from your point of view?

Stephan Baars:

There are a few things, or especially one thing that I would like to share, but Miriam, Chad, we are not just amongst us, so...

Chad Lemon:

Oh, come on.

Stephan Baars:

Let's keep that a little bit more-

Chad Lemon:

You can share it with us.

Stephan Baars:

No, no, no, no, no. So we need to keep some excitement for next year, but what I can share is Mike as always is spot on. So you see how great him and I are aligned, but I would add that we will as well see ongoing explosive growth in the BCD Meeting & Events area. That's something that over the last years has grown so significantly and so substantially that they have created a new product group, which is called the Films Product Group. And for those that have not seen that yet, I really can say check it out, it's BCD M&E's video production and filming area, and they have great crews in our environment and they take those companies out and do films and let companies look much nicer, customers much nicer and leveling up their brand and telling stories about what customers are doing.

So a great opportunity, and I think we have an outstanding team there, Mike and I could just experience recently what cool people we have there. So check it out, very cool feature. And then we definitely will add strengths in the reach for solutions in very complex industries that we are very proud to service such as marine or life science, and not to forget aerospace and defense. So these are areas where we definitely will see some things coming in 2025.

Miriam Moscovici:

Well, it's almost a new year. So do either of you two have new year's resolutions? Are they personal or professional that you want to share?

Stephan Baars:

Oh, Miriam, I stopped that many years ago because it was a great disappointment when you set them and never achieved them. But on a very honest note, I think if I look into the world, I would say we're all human being. If this planet would realize that we live in peace much better together, then that would be already something very important. And to the employees at BCD Travel and my colleagues, I would just say, look out how fortunate we are and sometimes be happy with what we all together as individuals at BCD have achieved, think positive and give back a little bit of what, let's say we have achieved to those that are in a worse situation. I hope that counts as well, Miriam.

Miriam Moscovici:

Yep, that counts. How about you, Mike?

Stephan Baars:

Yep, super.

Mike Janssen:

Man, I can't follow that up. He's way too deep in thought for me. I was sitting here thinking-

Stephan Baars:

He was thinking about avocados. I know that.

Chad Lemon:

Knitting patterns, that's where mine's going.

Mike Janssen:

No, I was thinking about-

Miriam Moscovici:

Chickens, are you learning how to fly fish? What's your deal?

Mike Janssen:

I was just thinking about how much I love a good party and that I didn't make any bad decisions at the 50th year jubilee.

Chad Lemon:

There you go.

Mike Janssen:

That's my resolution, right? That's-

Miriam Moscovici:

That'll work.

Stephan Baars:

That's accepted as well by the way, Mike.

Mike Janssen:

It's already factored in, right? It's already factored into it, but yeah, it's hard to just not agree with Mr. Baars, right? It would be wonderful to see us have a little bit more calmness, let's say in 2025. But honestly for me, on a personal basis, it's just as simple as my daughter turns 18. She's got to make a college decision, so let's help her transition the heck out of the house and into the university, right? Get my home back.

Stephan Baars:

I can help you there, Mike. I have two that left home, so if you need ideas, I can tell you.

Mike Janssen:

I appreciate it. I might.

Chad Lemon:

Oh, it is so heartwarming to see you two just supporting each other. That is really nice, you guys. Okay, well, we typically end the podcast asking our guests the exact same question, advice on whatever we were talking about. But on this one, I just want to give you both a second to talk to our listeners. So industry folks, colleagues, suppliers, partners, all of them. What do you want to say to those listening?

Mike Janssen:

For me, it's a straightforward "thank you," right? Whether it's a partner, whether it's an employee and a colleague, whether it's a client, thank you for your business, thank you for your loyalty, thank you for your trust, thank you for being there for us when we need you. It's been a pretty crazy year with certain things that have happened within this industry where we've been supported by our partners and we've had to support our partners right back. And when you've got a great relationship like that, it really tends to make things go well. So thank you to all, that's the number one thing I can say.

Stephan Baars:

Yeah, I echo what Mike has said. There is nothing else to say, but let me then go to some words that stay with me for many years already. And I've quoted our founder, Mr. van Vlissingen, on this already. And this is building on the foundation of the past is extremely important, but the future, and in this case, our future is even more exciting. And that says a lot for BCD Travel as well. We are truly fortunate to have built based on a stable foundation, the company BCD Travel, with today, 15,000 outstanding employees there. And what we have achieved together is nothing that is easy. And you need constant development. You need constant investments.

You need expertise in travel, in technology, meeting and events and advisory services. And you need financial strengths, and you need a shareholder who is willing to invest in you. And we at BCD Travel, we have a lot of what I just have said, and first and foremost, we have the teams that are able to do what our shareholder is so proud of these days of BCD travel. This industry has always evolved, and I can tell you, we will evolve with this industry, and we have extremely exciting times ahead of us.

Chad Lemon:

Well, Miriam, I think that's it for us. Any new year's resolutions or wishes on your end for 2025?

Miriam Moscovici:

This year, I'm learning Greek. Last year it was Japanese. It was a little too hard for me.

Chad Lemon:

I knew that. Yeah. Got it.

Miriam Moscovici:

That's really hard. But I'm learning Greek now.

Chad Lemon:

Okay, love that.

Miriam Moscovici:

How about you?

Chad Lemon:

Well, as you know, I moved to a new home a little bit ago. It's an island in the US and we have beautiful scenery around here. So I think my resolution is going to be get out a couple times of the week, walk on the shoreline, and just appreciate nature more. But that is all for this episode and this season, Miriam and I will be taking a little bit of a break, like I said at the top of the show. But don't worry, you can go back and listen to your favorite episodes from season one or this season and be on the lookout for season three in 2025.

Miriam Moscovici:

That's right. Stay tuned to BCD social channels where we'll announce our season three kickoff in January of next year. And until then, happy holidays everyone. To all of our listeners, thank you so much for taking that time throughout the year to join our conversation. Ta leme sintoma.

Chad Lemon:

Oh, man, I knew that was coming.

Miriam Moscovici:

It's actually “ta léme sýntoma,” I'm working on it.

Outro:

Thank you for connecting with us. BCD Travel helps companies travel smart and achieve more. We drive program adoption, cost of savings and talent retention through digital experiences that simplify business travel. Learn more about the topics you heard on this episode by visiting bcdtravel.com/podcast.

[1] Eighth consecutive year and 12th time total of being recognized as the Most Admired Travel Management Company by readers of The Beat