Chrome River, which makes expense and invoice automation software, has released Folio, a tool designed to automatically extract hotel folios from an email and turn them into expense reports. The software reads PDF or HTML files of the hotel bill, and converts them into full line-item breakouts.
Chrome River Folio was developed in conjunction with Traxo, which makes email parsing technology. The e-folio parsing technology compares a hotel folio against a comprehensive repository of folio formats, extracts the data, categorizes it and exports it to the traveler’s Chrome River expense account. Individual items such as room rate, parking, tax, internet, restaurant and room service are listed and allocated separately.
Folio is available in English, French and German, with further languages to be added in the future. The tool is compatible with any hotel.
CEO of Chrome River Alan Rich said in a statement that “one of business travelers’ biggest peeves with expenses is inputting the receipt data into the system, as this can be incredibly time-consuming and frustrating, especially on a phone or a tablet.” He added that automation of travel expense reporting can “streamline the expense reimbursement process.”
Technology editor for Accounting Today.