Latest news with #Folio
Yahoo
6 days ago
- Business
- Yahoo
Folio and DayBlink GPO partner to ‘simplify' purchasing for hotels
DayBlink GPO, a purchasing consortium aiding luxury independent hotels, has partnered with financial operations platform Folio. To initially launch in the US, this collaboration aims to streamline procurement processes across hotel operations, with Folio becoming the preferred marketplace for DayBlink GPO contracts. DayBlink GPO CEO Michael Wong said: 'At DayBlink GPO, our mission is to support independent luxury hotels with smarter sourcing tools that enhance operational efficiency without compromising quality or brand identity. 'Partnering with Folio aligns with this mission. By consolidating procurement through a modern, intuitive platform, we empower our members to regain control over their purchasing, reduce administrative friction, and unlock new levels of savings and transparency—helping them succeed in a competitive market while preserving their unique identities.' Folio's procurement management platform leverages its centralised marketplace solution, Folio Buy, to offer cost savings and hotel efficiency. This helps replace time-intensive implementations and manual processes with a platform featuring AI-driven automations across the procure-to-pay process. Folio CEO and co-founder Kate Adamson said: 'We believe premium hospitality is made possible with extraordinary tools and operations. 'We're excited to partner with DayBlink GPO to bring much-needed purchasing simplicity to upscale and luxury hotels. These properties juggle hundreds of vendors and support complex operations. Helping them centralise purchasing in one system cuts administrative overhead, so they can focus more on guests and less on the back-office.' Earlier this month, Folio secured $14m in Series A funding to further its mission of enhancing hotel profitability and expediting service delivery. "Folio and DayBlink GPO partner to 'simplify' purchasing for hotels" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
7 days ago
- Business
- Business Wire
DayBlink GPO and Folio Announce Strategic Partnership to Revolutionize Procurement for Luxury Independent Hotels
BUSINESS WIRE)-- DayBlink GPO, the largest buying consortium supporting luxury independent hotels, and Folio, the modern financial operations platform for hospitality, have announced a strategic partnership to simplify purchasing across the entire hotel operation, with Folio as the preferred marketplace for purchasing Dayblink GPO contracts. 'At DayBlink GPO, our mission is to support independent luxury hotels with smarter sourcing tools that enhance operational efficiency without compromising quality or brand identity,' said Michael Wong, CEO of DayBlink GPO. 'Partnering with Folio aligns with this mission. By consolidating procurement through a modern, intuitive platform, we empower our members to regain control over their purchasing, reduce administrative friction, and unlock new levels of savings and transparency—helping them succeed in a competitive market while preserving their unique identities.' Folio's procurement management platform delivers efficiencies and cost savings to hotels with their leading marketplace solution: Folio Buy. Instead of time-intensive implementations, complex purchasing workflows, or time-consuming manual processes, Folio offers an intuitive platform with speedy setup and AI-powered automations across the procure-to-pay process. 'We believe premium hospitality is made possible with extraordinary tools and operations, ' said Kate Adamson, CEO and Co-Founder of Folio. 'We're excited to partner with DayBlink GPO to bring much-needed purchasing simplicity to upscale and luxury hotels. These properties juggle hundreds of vendors and support complex operations. Helping them centralize purchasing in one system cuts administrative overhead, so they can focus more on guests and less on the back-office.' The partnership will initially launch in the United States. For more information please visit the following link. ABOUT DAYBLINK DayBlink GPO is a strategic sourcing provider for independently owned and operated luxury hotels in the hospitality sector. DayBlink GPO combines years of expertise to help members improve their bottom line and performance efficiency. As an ambassador on behalf of hoteliers, DayBlink GPO negotiates superior agreements with multinational companies across major hotel spend categories by leveraging billions of dollars in member purchasing power. These deals bring instant value, create cost savings, and deliver efficiencies at little to no added effort for our members. For more information, visit ABOUT FOLIO Folio is an award-winning financial operations platform that helps properties turn back-office complexity into competitive advantage with a modern, all-in-one procure-to-pay solution which includes: Folio Buy: a centralized, managed marketplace Folio Bills: AI-powered invoice processing Folio Pay: streamlined payments via virtual card and ACH Folio's AI-powered workflows save teams time and money, and accelerate the time-to-value with rapid implementations. One year post-launch, Folio powers hundreds of hotels and is on track to power nearly half a billion dollars in annual purchasing volume.
Yahoo
18-07-2025
- Business
- Yahoo
Folio secures $14m to power hotel profitability
Folio, a financial operations platform tailored for the hospitality industry, has raised $14m in a Series A funding round to encourage the profitability of hotels and quickly deliver implementations. The round was led by Thrive Capital and Construct Capital, with additional support from Redseed VC and SciFi VC. Folio's procure-to-pay platform improves hotel profitability through various features such as a managed marketplace, AI-driven invoice processing and streamlined payment solutions. Folio CEO and co-founder Kate Adamson said: 'At Folio, we're financial technologists who love hotels. Our mission is to help hospitality thrive financially. By bringing properties, suppliers, and financial systems together in one place, hotel managers can more easily optimise spend.' Debuting at the HITEC 2024 tech conference, the company has seen rapid expansion and has secured contracts with prominent hotel management businesses. Folio is now facilitating the purchasing process for hundreds of hotels. HHM Hotels stands out among these companies, managing more than 39,000 hotel rooms and generating approximately $2bn in revenue across the US and Canada. It adopts new technology that yields savings and advantages for hotel owners. HHM Hotels' chief investment officer Shawn Tuli said: 'Any new technology must deliver clear ROI, and Folio does just that. "Beyond streamlining workflows and boosting productivity by bringing AI to Procure-to-Pay processes, Folio accelerates time-to-value through its seamless implementations. We've quickly seen more efficiencies and alignment for our operating teams.' Folio's AI-powered workflows enable quick implementations and save time and money for teams. "Folio secures $14m to power hotel profitability" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
30-06-2025
- Business
- Finextra
Bud Financial signs Fruition for transaction enrichment software
Fruition, the financial empowerment platform dedicated to bringing clarity to personal finance, has partnered with transaction enrichment and insights and analytics specialist Bud Financial ('Bud') to provide more richly personalized financial experiences for their members. 0 Through the power of Bud's Enrich and Engage products, Fruition will deliver enriched transaction data and intelligent, personalized financial insights to members making it possible for them to make even more informed financial decisions aligned with their financial goals. Fruition's Folio provides members with a comprehensive view of their financial landscape in a single, intuitive dashboard. With the enriched transaction data from Bud, Folio is even more powerful - illuminating category spending for members and making it easier than ever to budget. Additionally, Fruition will be able to deliver customized, targeted notifications for members based on the smartest transactional data available. The Fruition platform also bridges technology and human expertise. Leveraging Bud's capabilities, members will be able to share more accurate information in their mentor sessions and mentors will be able to offer tailored education and actionable guidance without wondering about the accuracy of a member's financial landscape. Fruition's ambitious roadmap will see the company become the first fintech to go live with Bud's Intelligent Search feature. Intelligent Search is Bud's new AI-powered tool which helps users get a handle on their transaction data by using natural language queries as part of a generative AI search experience. The engine understands the context of your keyword. When you search for Netflix, for example, it will not only list matching transactions, but also provide you with a quick summary of your spending in the streaming category, or even highlight the biggest merchants in this group - depending on the data and the question asked. 'This collaboration brings Fruition's members control over their financial futures by leveraging AI-driven insights, relevant education and expert guidance, all underpinned by Bud's market-leading financial models,' said Edward Maslaveckas, Co-founder and CEO at Bud. 'Fruition's commitment to providing smarter financial guidance makes them the perfect first client of our exciting Intelligent Search capability. We can't wait to see how Intelligent Search helps Fruition's members to take control of their financial data and smash their financial goals.' 'On average, we're seeing that 42.6% of all transactions are being enriched more accurately with Bud than with our previous enrichment provider,' said Elliott Beaty, VP of Engineering at Fruition. 'Our partnership with Bud helps us deliver on our promise of financial understanding and actionable insights. Better data for our members means more accurate understanding of their financial situation.'
Yahoo
08-05-2025
- Business
- Yahoo
Fruition Launches Groundbreaking Debt Paydown Tool to Combat America's $1.2T Credit Card Debt Crisis
Custom debt management strategies built in minutes transform financial confusion into actionable plans and real savings for members ATLANTA, May 8, 2025 /PRNewswire/ -- Fruition, the financial empowerment platform dedicated to bringing clarity to personal finance, today announced the launch of its innovative Debt Paydown tool within its flagship Folio product, where members can connect personal finance accounts and see their full financial picture. This powerful new feature arrives as Americans face a staggering $1.2 trillion in credit card debt as of Q4 2024 — a burden that increased $45B from Q3 according to the Federal Reserve Bank of New York's Center for Microeconomic Data. The Debt Paydown tool transforms how consumers approach debt elimination by offering unprecedented transparency and customization. Unlike conventional debt calculators, Fruition's solution allows members to add any number of debts to a personalized paydown plan, visualize future payment strategies, and quantify potential interest savings through an intuitive, interactive building experience that can be referenced at any time in their Fruition account. "Financial freedom shouldn't require a finance degree," said Lauren FitzHugh, VP of Growth at Fruition. "With credit card debt at historic levels and American households navigating rising costs and financial uncertainty, we all need more than just another app telling us we're in trouble — we need a plan with actionable steps and a clear path forward. Our Debt Paydown tool doesn't just show the problem; it illuminates the solution in dollars and cents." The new tool brings flexibility to debt management that hasn't been available until now. The Fruition Debt Paydown tool addresses a critical gap in financial technology by combining sophisticated planning capabilities with remarkable ease of use. Members can: Create customized paydown strategies tailored to their financial situation View their payoff schedule by month and see where extra payments will have maximum impact See real-time projections of interest savings based on their selected strategy Members can choose between two proven debt elimination strategies: the Snowball method, which focuses on paying off smallest debts first to build momentum through quick wins, or the Avalanche method, which targets highest-interest debts first to minimize overall interest payments. "Our research showed the market is flooded with debt calculators and simulators, but missing a tool that allowed people to build a custom debt management plan with all of their debt accounts, not just one or an estimated balance," said Josh Bauder, VP of Product at Fruition. "We built this tool to meet our members where they are and give them unparalleled control over options to tackle their debt. When our members can literally see how an extra $50 payment today might save them hundreds in interest tomorrow, the path to financial freedom becomes not just visible, but achievable." The Debt Paydown tool is now available to all Fruition members in their Folio on both desktop and mobile app. New members can experience the full capabilities of Debt Paydown and all that Fruition has to offer through a 30-day free trial, giving them ample time to experience stress-free, holistic financial management. Sign up and find an interactive demo of Debt Paydown at About FruitionFruition is the only personal finance management platform that consolidates financial data feeds in one place while providing actionable insights, educational resources, and real human mentorship for consumers and employees. The fintech startup is on a mission to help Americans break free from their $1.2 trillion of credit card debt and find financial freedom by partnering with employers to offer financial wellness benefits for their workforces. For more information on our solutions for employers visit and to see your full financial picture in one place visit View original content to download multimedia: SOURCE Fruition Personal Finance, LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
