![]() A guest folio-an account of a single guest or a single room that adds all charges from the different points of sales (e.g., dining, gym, gift shop, rentals) and subtracts all payments made by the guest.Types of folios that hotels maintain include: The folio then serves as the basis for the invoice. The folio records the guest’s purchases and payments until the guest checks out and the account is closed. This internal document is called a folio. When guests check into a hotel, the hotel opens a file that tracks their account activities during their stay. Software companies can also white-label Veryfi to enhance their expense management applications with advanced features and improve their customer experience. With no humans in the data transformation loop, employees can spend more time focused on customer service and experience. Veryfi’s AI-driven solution provides highly accurate hotel folio data extraction in seconds. To maximize speed and minimize errors, Veryfi’s intelligent document processing solution combines optical character recognition (OCR) with artificial intelligence. But manual hotel folio data extraction is a slow process that often results in errors. Before hotels can use the information contained in the folio, they need to extract it. ![]() While the process is effortless for guests, it’s more complicated for the hotels. What makes this experience so simple? It all comes down to hotel folios. Any purchases made are “billed to your room.” Then on the final morning of your stay before checkout, you receive a nice sheet of paper under the door listing all of your purchases. Whenever staying at a hotel, you rarely need your wallet.
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