Smarter invoice routing

When using Folio Bills, Folio processes the emails sent to your property managers, filters out emails and statements, and then routes the relevant invoices to your Folio.

Today, we're pleased to share Smarter Invoice Routing. Among the enhancements, we have added geolocation to the multiple datapoints we use to ensure you get all the right bills, fast and automatically.

How it works:

When an invoice arrives in a centralized email inbox, Folio analyzes multiple signals to find the right Folio storefront match. For example, we consider information in the invoice itself (e.g. property address, names referenced) or its source email (e.g. sender, historical send patterns).

Now, we've aded geo-coded location matching, which means:

1. Folio first extracts the address from the invoice
2. Folio converts the address to precise latitude/longitude coordinates
3. Folio searches across Folio properties within a configurable radius of those coordinates
4. Folio can better match the invoice to the correct property

The impact of a multi-signal approach? More more automatic matches, faster.

You may notice the difference when you have different shipment locations within the same property, address formatting variations, names appear in different forms, or when sender information changes frequently.

Other updates this week:

There were no significant changes this week given Folio's Holiday Code Freeze. 🥶 The code was nestled, all snug in its beds, while visions of New Year’s champagne danced in our heads...

We’ll be back to our regular scheduled programming next week.

Happy New Year! It's going to be a great one.