Full-Cycle Billing in Five Simple Steps :
Step 1 – Invoices are presented at our Secure website
No more paper, no more hassles. Folio Exchange simplifies the entire invoicing process by gathering all the folio details from the hotel for presentation to the customer at our secure website.
Step 2 – Proprietary FE “Automatch system automatically approves invoices meeting preset tolerances
Our unique “automatch” algorithm compares the invoiced amount with expected pay amounts and automatically approves all invoices within the customer’s tolerance level.
Step 3 – Errant Invoices are automatically flagged and posted for review
Folio Exchange automatically flags invoices it suspects are in error both before the hotel presents them and once they have been presented to the wholesaler.
Step 4 – Hotel and Wholesaler review errant invoices and resolve disputes online
Folio Exchange gives you the freedom of having one centralized place to go to resolve billing disputes. No more staff time wasted hassling with phone calls, faxes and sticky notes. Complete transaction details at your fingertips. Dispute charges online. Adjust billing amounts online. Include key documents and support for any adjustments made, all with a full audit trail.
Step 5 – Remittance information electronically transmitted and applied to accounting systems
Folio Exchange replaces the manual effort and customization in how payments are applied for group, airline, wholesaler and corporate accounts with one simple automated solution. Payments are received from wholesalers and transmitted to hotels upon receipt of payment.
Reach us at sales@folioexchange.com to learn more!