Case Studies

Hospitality Providers

Significant Labor Savings

Problem: Before Folio Exchange, this 25 property resort chain had a large staff doing traditional A/R activities: Printing invoices, manually reconciling short payments and keying the cash remittance. Management wanted a better way.

Solution: Implementation of Folio Exchange services eliminated the use of paper invoicing, slashed dispute resolution time and automated the remittance process. In all, this client was able reduce headcount by 75% and save hundreds of thousands of dollars annually.

Ready to Go

Problem: This progressive hotel chain had already moved to providing invoices via emailed spreadsheets but wanted a full-cycle solution without the capital costs and risks associated with internal IT projects and custom software.

Solution: Enter Folio Exchange. Our complete hosted solution gave them a fully automated solution without the expense, time and headaches of traditional IT projects. Now this entity enjoys all the benefits of online dispute resolution, automated payment application and secure invoice delivery with no extra IT infrastructure or expense.

Streamlined Dispute Resolution

Problem: This large regional luxury hospitality provider handles large groups and significant wholesaler billing. With thousands of different rates, promotions and programs running at any given time, they needed a better way to track their billing disputes.

Solution: Via Folio Exchange, they were able to centralize all billing information, status inquiries, write-offs and adjustments in one place with a full audit trail and complete management reporting and oversight. Now instead of excess paper, various spreadsheets and labor-intensive reconciliation, hotel management can instantly report, analyze and resolve on all their billing disputes across the whole chain.

Accelerated Payment Receipts

Problem: This leading beachfront resort was saddled with a dated, custom built PMS and Accounting system causing invoices to be sent out days after guest check-outs and without any folio detail. Management wanted to improve cash flow and reduce billing disputes but did not have the budget to replace their core systems.

Solution: Folio Exchange consultants were able to extract the billing detail straight from their PMS system and provide a complete web-based "Trade A/R" solution. Folio Exchange cut DSO by 6 days and slashed billing disputes by 50%, giving management something to smile about.

Wholesalers & Groups

Paperless Process Slashes Manual Effort

Problem: As one of the early adopters of Folio Exchange, this well-known tour operator was bogged down by all the paper and manual keying of traditional hospitality accounts payable and wanted a better solution.

Solution: Teaming up with Folio Exchange and their key hotel trading partners, they slashed labor time, improved payment & reconciliation accuracy and reduced billing dispute resolution time. All told, Folio Exchange has saved this company more than a half million dollars.

Doing Business their Way

Problem: One of the world’s largest Asian wholesalers was having significant issue reconciling between hotel billing done at the guest level versus their need to reconcile by tour group.

Solution: With Folio Exchange they can fully capture invoicing information at the detail level, and this operator can see the information summarized exactly the way they need it. This has eliminated much of the time spent resolving billing discrepancies, translating resort bills into their systems, and has greatly improved payment accuracy and processing time.

Automated, Real-Time Dispute Resolution

Problem: One of the largest Tour operators in North America, this entity for years had dedicated significant resources to the manual processing of all incoming bills, inquiries and remittance advice.

Solution: Folio Exchange worked closely with them at every stage to provide a paperless, secure and accurate state-of-the art online reconciliation solution. Now free of paper, faxes, spreadsheets, expensive calls and mailing expenses, both the tour operator and its hotels have realized significant savings and improved productivity. Thanks to the partnership of this company along with Folio Exchange, the industry is moving toward a new standard of doing back-office accounting.