Denver, CO - Tuesday, November 8, 2005 - Folio Exchange, the world leader in innovative back office solutions for the hospitality industry, announced that it recently surpassed the one million room-night mark in terms of folios successfully invoiced, reconciled, and paid. In the last four years, Folio Exchange has delivered its rich feature-set of solutions to leading hotels and wholesalers around the world, allowing them to get rid of the paper and manual processes that traditional billing and remittance requires.
“This milestone shows that Folio Exchange is a proven solution, giving hotels a better way to process their Accounts Receivable than traditional paper-based invoicing,” said Jeffrey H. Lu, Director of Sales for Folio Exchange.
“We evaluate the mean time to process a folio ('MTPF') before and after Folio Exchange adoption with our clients. This achievement represents over ten thousand hours of labor time saved to our clients by making the switch to electronic billing and remittance via Folio Exchange.”
About Folio Exchange
- Folio Exchange provides innovative products and intelligence to solve the travel industry's toughest back office problems. Folio Exchange provides people and products that can help you connect your systems, your people, and your partners to get rid of all the paper and all the manual processes in your back office.
As of November 1, 2005, Folio Exchange manages electronic billing and remittance processing for leading hospitality firms around the world like Hyatt Hotels & Resorts, Outrigger Hotels & Resorts, Pleasant Holiday, American Airlines Vacations, and Jalpak International. Statements in this article or any other release regarding performance benefits or savings may or may not apply to your organization. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Folio Exchange services should make their purchase decisions based upon features that are currently available.
