Method for communicating, collaborating and transacting commerce via a communication network

• US 20010047311A1
• Filed: 04/13/2001
• Published: 11/29/2001
• Est. Priority Date: 04/13/2000
• Status: Abandoned Application

• Current Assignee: Commonstream, Inc.
• Original Assignee: Commonstream, Inc.
• Inventors: Singh, Bhavesh
• Application Number:
  US09/834,487
• Publication Number:
  US 20010047311A1
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]

Abstract

A system and method providing comprehensive, end-to-end collaboration and transaction functionality for a world-wide market for products and services. Buyers suppliers and distributors are electronically connected, via a communications network for the procurement and delivery of both standard and custom products or services. Purchase orders are received at an electronic repository connected with the network, such as a website and associated memory. In response to the received purchase orders, one or more quotes are received at the repository. One method includes aggregating buyers based on a purchase order commonality, while another method includes aggregating suppliers based on capacity similarities. After a match is made and processed, a procurement transaction is executed between a buyer and one or more suppliers via electronic communication over the communications network.

Claims

1. A method of transacting commerce via a communication network, comprising:

providing a website accessible to a plurality of authorized buyers and authorized suppliers of products or services;

receiving, in a memory associated with the website, a plurality of purchase orders from the authorized buyers;

receiving, in the memory, a plurality of quotes from the authorized suppliers, each quote being responsive to at least one purchase order;

processing the purchase orders and quotes to match at least one purchase order with at least one quote; and

executing, by a processor connected with the website and according to inputs transmitted to the website from a user associated with the matched purchase order and/or quote, an electronic transaction with data from the matched purchase order and quote.

2. The method of

claim 1

, wherein processing the purchase orders and quotes includes aggregating two or more purchase orders into an aggregate purchase order according to a common criteria.

3. The method of

claim 1

, wherein processing the purchase orders and quotes includes aggregating two or more quotes into an aggregate quote according to a common criteria.

4. The method of

claim 1

, wherein executing the electronic transaction includes providing, via the website, a communication medium for collaboration between users, wherein the users represent either buyers or suppliers.

5. The method of

claim 1

, wherein executing the electronic transaction includes coordinating transmission of payment information to the supplier from the buyer via the website.

6. The method of

claim 1

, wherein executing the electronic transaction includes coordinating shipping instructions between the buyer and the supplier via the website.

7. The method of

claim 1

, wherein executing the electronic transaction includes executing a subsequent round of bidding between at least one buyer and at least one supplier via the website.

8. The method of

claim 7

, wherein executing a subsequent round of bidding further includes:

soliciting, via the website, requests for bid instructions from selected buyers and/or suppliers, and

in response, receiving bid instruction inputs from the selected buyers and/or suppliers to execute a subsequent bid.

9. The method of

claim 1

, wherein executing the electronic transaction includes translating a purchase order and/or quote from an original language posted to the website to at least one other language.

10. The method of

claim 1

, wherein executing the electronic transaction includes converting a currency in a purchase order and/or quote from an original currency posted to the website to at least one other currency.

11. The method of

claim 1

, wherein executing the electronic transaction includes executing a confirmation routine to solicit from a buyer or a supplier confirmation of intent to execute the transaction.

12. The method of

claim 1

, wherein the purchase order is configured as a request for quotes (RFQ).

13. The method of

claim 1

, further comprising configuring a purchase order template for transmission to one or more authorized buyers.

14. The method of

claim 13

, wherein receiving a plurality of purchase orders includes, for at least one purchase order, receiving data within at least one empty field of the purchase order template.

15. The method of

claim 14

, wherein the purchase order template is stored in the memory after being filled by an authorized buyer.

16. The method of

claim 1

, wherein executing the electronic transaction includes displaying a graphic representation of a product or service associated with a purchase order.

17. The method of

claim 16

, further comprising receiving edit information at the website in response to displaying the graphic representation.

18. The method of

claim 17

, wherein the edit information is received from a buyer.

19. The method of

claim 18

, wherein the edit information is received from a supplier.

20. The method of

claim 17

, wherein executing the electronic transaction includes confirming a final version of the graphic representation.