Folio, a financial operations platform for the hospitality sector, has launched Folio Inventory, a new product designed to streamline and accelerate inventory counting for on-property teams. This addition allows hospitality operations to achieve faster ordering, expedited financials, and immediate visibility into items on-hand, on-order, and within budget.
The new system integrates counting, re-ordering, and accounting for goods into a single, intuitive platform. According to Kate Adamson, CEO and Co-Founder of Folio, the regular counting of items across various storage areas, including walk-in freezers, has historically been a significant challenge for operations. She stated, “Folio Inventory makes that process faster and simpler, giving folks on the ground more time and more information.”
Executive Chef Tatiana Rosana, a two-time Food Network Chopped champion, reported that Folio Inventory reduced count time by half at her restaurant and rooftop within a Marriott Autograph Collection hotel. Chef Rosana noted, “With Folio Inventory, my team gets instant clarity on what we have, what we need, and what it costs. It’s beneficial for us.”
Folio Inventory integrates with Folio’s existing procure-to-pay solution, which includes Folio Buy for centralized marketplaces, Folio Bills for AI-driven invoice processing, and Folio Pay for virtual card and ACH payments. By connecting inventory data with purchasing, invoicing, and payment information, Folio aims to provide a unified financial operations platform for hospitality.
Adamson emphasized the strategic benefit, adding, “The best teams know that what gets measured, gets managed. Suddenly, properties are not just counting faster, they are operating smarter.” Folio Inventory is now generally available to all interested Folio customers.
Folio is an AI-powered financial operations platform that helps properties manage back-office complexity. One year after its initial launch, the platform powers hundreds of properties and is projected to facilitate nearly a billion dollars in annual purchasing volume.
