Even the most luxurious hotel stays can lead to frustration when it comes time to submit your hotel bill expense. It’s not necessarily the overall charges that can be frustrating (unless your $200 room still charges for basic Wi-Fi), but the act of manually going through the entire folio to create separate line items for each and every charge. And when charges can include everything from room fees to parking, hotel restaurant meals to emergency gift shop purchases, you may end up with a number of different items to list.
Many traditional expense management systems don’t have the capabilities to streamline the hotel folio itemization process. But Chrome River does, with Chrome River FOLIO. We’re delighted to announce that it is now launching in English, French and German, with more languages to come.
What Chrome River FOLIO Does
As part of Chrome River EXPENSE, Chrome River FOLIO is a significant time-saving tool that automatically itemizes entries from your hotel receipts. All you need to do is forward your emailed hotel bills to Chrome River upon checkout and let the system do its thing. Chrome River FOLIO:
- Scans the folio and extracts transaction and vendor information
- Automatically imports the information to your expenses
- Structures and categorizes the data to create individual line items, such as lodging, Wi-Fi, room service, parking, tax, and other charges
Once the hotel expense line items are established, you can individually allocate each item according to your company’s general ledger rules.
Chrome River FOLIO is smart, too. It’s equipped to read plain text emails, HTML emails, and PDF receipts. Its library of templates covers approximately 50,000 hotels worldwide, and if any hotel folio cannot automatically be mapped, the template will be added to the library.
Biggest FOLIO Benefits
Both business travelers and AP departments benefit from FOLIO’s streamlined functionalities. Some of the biggest benefits include:
- Saving time: Business travelers no longer have to manually break down their master hotel receipt to enter each line item charge individually. Instead of gathering up, reviewing and then entering data from hotel receipts at the end of the month, users can seamlessly submit hotel folios as they receive them. Keeping an ongoing log is faster and less of a hassle than keeping a folder full of receipts that require month-end organization and review.
- Increasing accuracy: Since the tool’s automatic data structuring and creation of line items takes the human element out of the mix, it pretty much eliminates the chances for human error. Users no longer have to pore over receipts, double-checking they haven’t misread, misclassified or otherwise messed up an entry on their expense report. Fewer inaccurate expense reports being submitted also results in fewer delayed reimbursements.
- Providing convenience: Business travelers are always on the go, and Chrome River makes it easy to build, edit and submit expense reports from anywhere. The platform works on any mobile device as easily as it works on laptops and desktops. Since Chrome River is a web app, users are treated to the exact same interface and functionalities on any device they use.
Used in conjunction with our industry-leading time-saving services such as Snap & Send, Forward & Forget, and our direct integration into Uber, business travelers can create expense items for their entire trip from a mobile phone without ever even needing to log on to Chrome River.
Chrome River FOLIO is just one of the amazing features you’ll find in our expense management software, which was designed with traveler, administrator and overall company happiness in mind.
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- Specialist Expense Vendors vs. ERP Suite Modules: Pros and Cons
We love you guys! Everything is going great.
Wow! This Chrome River is great. Word has spread [in our firm] and people that were not invited to be in the pilot group rollout have asked to be included!