Introducing Traxo FOLIO for Enhanced Expense Management

Posted by
Matt Griffin on September 21, 2017

Detailed hotel folio data provides better insight for lodging expense

Traxo FOLIO provides a first-of-its-kind solution for extracting fully itemized spend detail from a hotel receipt upon checkout, enabling more granular visibility into T&E spend for more proactive expense management. Whereas card data typically only reports what was spent at the aggregate merchant level — think “$800 at Hotel XYZ” — Traxo FOLIO automatically breaks down that $800 into 22 categories across multiple languages, covering things like meals, parking, wifi charges, room rate, taxes, and more.

 

Built on Traxo’s industry-leading Traxo CAPTURE data aggregation platform, Traxo FOLIO processes data from HTML emails or PDF attachments in seconds. From there, it can be seamlessly integrated via API into preferred expense management applications and reporting tools — even to a client’s Travel Management Company (TMC) for compliance tracking.

Additionally, clients can pair Traxo FOLIO with Traxo’s itinerary data parsing solution, enabling comparisons of booked data to what was actually spent. By capturing the original travel confirmation and reservation details at the time of booking, and then comparing to the folio detail for itemization of spend, clients can derive a much clearer picture of ancillary spend during the hotel stay. This in turn drives better budget planning and forecasting.

Traxo FOLIO data can also provide a wealth of information to inform hotel supplier rate negotiations. If a client finds that employees are regularly spending $30+ on breakfast or regularly paying $20+ for wifi access, then rolling in free breakfast or premium wifi as included amenities in the next negotiation can help reduce those costs. Likewise, if a client already has free amenities like breakfast included in their rate plan, this data can be a signal for travel managers to recoup costs that should not have been charged in the first place.

Traxo FOLIO is available now for clients globally, supporting virtually any hotel and covering multiple languages.

 

 

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