Folio is a financial operations platform purpose-built for the hospitality industry, headquartered in Durham, NC. Our modern, all-in-one procure-to-pay and full spend management platform sits on top of a hotel management company's ERP to deliver increased profitability and internal compliance to hotels through five core products:
- Folio Buy (a centralized managed marketplace for compliant purchasing)
- Folio Bills (AI-powered invoice processing)
- Folio Pay (streamlined supplier payments)
- Folio Inventory (fast counting and asset accounting)
- Folio Expense (card issuance with real-time budget impact tracking, customizable guardrails, and rewards)
The platform unifies search, ordering, invoicing, and payment into a single intuitive experience designed for hotel operators, with AI-powered workflows seamlessly built into the product to save teams time and money. Today, 70% of invoices processed are entirely touchless, meaning an invoice went from receipt to approved-and-booked without any changes from the AP team: the order was placed through Folio, marked as received by on-property teams, and the invoice 3-way matched automatically with our workflows.