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Folio Exchange hits the 7 Billion Mark. Folio Exchange completed another successful year processing over $7 billion in invoices and payments. Clients save thousands of dollars and FE continues to set the bar for complete back-office automation.

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FOLIO EXCHANGE Processes $5 Billion in Invoices and Payments

Los Angeles, California, Janury 5, 2011

Folio Exchange is pleased to announce a successful 2010 year and the milestone achievement of processing over $5 billion dollars in invoices and payments.

CFOs and CIOs across the hospitality industry are looking for ways to cuts costs and gain efficiencies, even in the back-office.  Folio Exchange created the technology that is setting new industry standards for invoice communication and processing.  Scalable service offerings include electronic billing and payment, full-service portals and group billing solutions.  Folio’s goal is to transform the hospitality billing process by eliminating paper to provide significant cost and labor savings to their wholesale and hotel clients.  Their innovative and flexible approach to automation is the new benchmark for successful invoice and payment processing.

Though many companies are attempting to automate their billing processes internally, proprietary systems are costly and cumbersome in today’s inter-connected electronic marketplace.  The future of the industry is portal systems as experts predict industry leaders to be entirely paperless within the next five years.   The average hotel invoice currently costs between $12 and $15 to process.  Folio Exchange services can slash that cost to about $1.50, saving hotels wholesalers hundreds of thousand of dollars annually. 

Automation via Folio Exchange is transforming the hospitality business by enabling trading partners to work together more efficiently to keep costs down in an increasingly competitive market.  Folio Exchange is a private company with a decade of proven experience in delivering tailored electronic billing services.    Says Director of Marketing, Lisa Bryan, “We are delighted to achieve this exciting benchmark in both quality and quantity of service to our clients and look forward to delivering increased automation and cost saving worldwide in the year ahead.”