Chrome River has updated its Folio e-folio parsing
capability to provide more detailed categorization, chief marketing officer
Julie Roy told BTN. The capability is possible through an integration with Traxo
announced last July.
Previously, for example, Folio would have classified a
buffet charge simply as “buffet,” but now it is classified as a “meal”—lunch or
dinner, depending on the time stamp, Roy explained. Likewise, an “Evian” charge
now can be classified as water or as a mini-bar or service charge, depending on
a client’s preferences.
Travelers forward e-folios in PDF or HTML formats to Chrome,
which will parse it using Traxo’s technology. If Folio doesn’t recognize a
charge, it’s sent to a human to achieve “100 percent accuracy,” and a new
template for the expense is created so the system recognizes it in the future,
Roy said. Clients pay an additional fee for each folio that is sent for parsing.
With some large and mid-size Chrome River customers having
more than 50 percent of receipts associated with folios, Roy said, “We see that
the volume [of receipts needing folio parsing] could be fairly significant for
certain customers that want to enable this Folio product.”
Now available in English, French and German, the new
classifications will be available to more languages in the future. Chrome River
as before will categorize in most European languages expenses as room, parking,
tax, Internet, restaurant and room service.