Integrated electronic cash flow management system and method
First Claim
1. A host system for facilitating bill payment and reconciliation, the host system comprising:
- an external systems interface for communicating over a network with systems external to the host system including at least one biller accounting system;
at least one computer memory storing data, the data including business data received over the network through the external systems interface and consumer data;
an electronic billing and invoicing computing system including at least one computer processor accessing the stored data and executing stored instructions to perform steps comprising;
generating electronic invoices on behalf of businesses for goods or services provided to consumers; and
transmitting the electronic invoices to the consumers using at least one of multiple selectable transmission methods including at least sending push notifications received at consumer mobile devices, wherein the push notifications allow payment by the consumer through the consumer mobile device over the Internet without consumer login;
an integrated receivables and reconciliation computing system including at least one computer processor performing steps comprising;
receiving notifications of consumer payment of the invoices through one of multiple selectable payment methods, the multiple selectable payment methods including multiple payment sources and multiple payment channels, at least some of the received notifications generated resultant to payments responsive to the push notifications; and
capturing and scanning the generated invoice to identify a unique identifier included in the generated invoice;
determining when each of the received payment is linked to a generated invoice based on the identified unique identifier;
automatically matching one or more of each of the consumer invoice payment with the generated invoices based on one or more business rules, when the determination indicates that the one or more of the consumer invoice payment is not linked to the generated invoice;
providing user interfaces for billers, the user interfaces including real time cash flow information based on the matching; and
a cash flow management system including at least one computer processor performing steps comprising;
connecting over the network with a biller accounting system external to the host system; and
utilizing a bi-directional application program interface for automatically updating business accounting records contained within the biller accounting system external to the host system based on each matched payment and invoice.
1 Assignment
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Accused Products
Abstract
A cash flow management system is provided within a host system for facilitating cash flow management for businesses. The cash flow management system includes an electronic billing and invoicing computing system enabling generation and transmission of electronic bills based on business invoices and for displaying the generated bills for payment and an integrated receivables and reconciliation system receiving notification of received payments and for matching received payments with the generated invoices. The system additionally includes a communication interface for allowing the cash flow management system to communicate with multiple financial management systems accessible to the host enterprise, the systems including at least an accounting system, the integrated receivables management system receiving information from the financial management systems within the host system to facilitate management of cash flow for the businesses using the cash flow management system for electronic billing.
84 Citations
32 Claims
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1. A host system for facilitating bill payment and reconciliation, the host system comprising:
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an external systems interface for communicating over a network with systems external to the host system including at least one biller accounting system; at least one computer memory storing data, the data including business data received over the network through the external systems interface and consumer data; an electronic billing and invoicing computing system including at least one computer processor accessing the stored data and executing stored instructions to perform steps comprising; generating electronic invoices on behalf of businesses for goods or services provided to consumers; and transmitting the electronic invoices to the consumers using at least one of multiple selectable transmission methods including at least sending push notifications received at consumer mobile devices, wherein the push notifications allow payment by the consumer through the consumer mobile device over the Internet without consumer login; an integrated receivables and reconciliation computing system including at least one computer processor performing steps comprising; receiving notifications of consumer payment of the invoices through one of multiple selectable payment methods, the multiple selectable payment methods including multiple payment sources and multiple payment channels, at least some of the received notifications generated resultant to payments responsive to the push notifications; and capturing and scanning the generated invoice to identify a unique identifier included in the generated invoice; determining when each of the received payment is linked to a generated invoice based on the identified unique identifier; automatically matching one or more of each of the consumer invoice payment with the generated invoices based on one or more business rules, when the determination indicates that the one or more of the consumer invoice payment is not linked to the generated invoice; providing user interfaces for billers, the user interfaces including real time cash flow information based on the matching; and a cash flow management system including at least one computer processor performing steps comprising; connecting over the network with a biller accounting system external to the host system; and utilizing a bi-directional application program interface for automatically updating business accounting records contained within the biller accounting system external to the host system based on each matched payment and invoice. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 17, 18, 19, 20, 21, 22, 23)
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9. A method executed by a host system for facilitating bill payment and reconciliation, the method comprising:
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receiving, through an external systems interface, information over a network from systems external to the host system including at least one biller accounting system; storing data, the data received through the external systems interface and including both business data and consumer data in at least one computer memory; accessing the stored data and executing stored instructions using at least one computer processor of an electronic billing and invoicing computing system to perform steps including; generating electronic invoices on behalf of businesses for goods or services provided to consumers; transmitting the electronic invoices to the consumers using at least one of multiple selectable transmission methods including at least sending push notifications received at consumer mobile devices, wherein the push notifications allow payment by the consumer through the consumer mobile device over the Internet without consumer login; using at least one computer processor of an integrated receivables and reconciliation computing system for performing steps comprising; receiving notifications notification of consumer payment of the invoices through one of multiple selectable payment methods, the multiple selectable payment methods including multiple payment sources and multiple payment channels, at least some of the received notifications notification generated resultant to payments responsive to the push notifications; capturing and scanning the generated invoice to identify a unique identifier included in the generated invoice; determining when each of the received payment is linked to a generated invoice based on the identified unique identifier; automatically matching one or more of each of the consumer invoice payment with the generated invoices based on one or more business rules, when the determination indicates that the one or more of the consumer invoice payment is not linked to the generated invoice; providing user interfaces for billers, the user interfaces including real time cash flow information based on the matching; and utilizing at least one computer processor of a cash flow management system for performing operations comprising; connecting over a network with the biller accounting system external to the host system; and utilizing a bi-directional application program interface for automatically updating business accounting records contained within the biller accounting system external to the host system based on each matched payment and invoice. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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Specification