Framework for processing sales transaction data

• US 20020169678A1
• Filed: 03/15/2001
• Published: 11/14/2002
• Est. Priority Date: 03/15/2001
• Status: Active Grant

• Current Assignee: Versata Development Group, Inc. (ESW Capital, LLC)
• Original Assignee: Versata Development Group, Inc. (ESW Capital, LLC)
• Inventors: Gharavy, Shari, Zhou, Cheng, Toub, Joshua, Chao, David, Erickson, Charles, Blount, Brian
• Granted Patent: US 7,925,513 B2
• Time in Patent Office: Days
• US Class Current: 705/26
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/063 Operations research, analysis or management
• CPC Class Codes: G06Q 10/06398 Performance of employee with respect to a job function
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A framework that enables financial services companies to manage and track information about a sales force is provided. The framework includes object models for managing distributors information, for validating and tracking licenses and credentials, for creating customized contracts, and for maintaining compensation structures. The framework allows for configuring compensations, providing financial services companies a toolkit for creating and modeling their complex commission schedules used to compensate their sales force. The framework also provides modeling tools for agreements and contracts between a financial services company or provider and the distributors who sell their products. The framework has a multi-component architecture comprising multiple modules, multiple data processing engines, a backbone and multiple data sources. The processing modules carry out information processing using one or more data processing engines. The data processing provides the tools to fetch data from the databases and process it.

Claims

1. A system for managing relationships between a product provider and distributors of said product comprising:

at least one processor;

memory coupled to said at least one processor;

said memory comprising a plurality of object modules configured for management of relationships between a product provider and a plurality of distributors;

said plurality of object modules comprising means for creating agreements between a plurality of distributors and a product provider;

said plurality of object modules comprising means for managing said plurality of distributors of said product provider;

said plurality of object modules comprising means for managing sales of products of said product provider by said distributors;

said plurality of object modules comprising means for managing compensation of said distributors based on said sales of said products.

2. The system of claim 1 wherein said product of said product provider is an insurance policy.

3. The system of claim 1, further comprising a plurality of objects for managing debts of said plurality of distributors.

4. The system of claim 1, further comprising a plurality of objects for managing payment of said plurality of distributors.

5. The system of claim 1 wherein said managing said plurality of distributors comprises managing information necessary to maintain contact with said plurality of distributors.

6. The system of claim 1 wherein said plurality of distributors are arranged in a sales team hierarchy, and each distributor in said sales team hierarchy may receive compensation for sales by other members of said sales team hierarchy.

7. The system of claim 1, further comprising a plurality of objects for recording transactional activities relating to compensation and debt of said plurality of distributors.

8. A method for managing relationships between a product provider and distributors of said product comprising:

a plurality of object modules for creating agreements between a plurality of distributors and a product provider;

a plurality of object modules for managing said plurality of distributors of said product provider;

a plurality of object modules for managing sales of products of said product provider by said distributors; and

a plurality of object modules for managing compensation of said distributors based on said sales of said products.

9. The method of claim 8 wherein said product of said product provider is an insurance policy.

10. The method of claim 8, further comprising a plurality of objects for managing debts of said plurality of distributors.

11. The method of claim 8, further comprising a plurality of objects for managing payment of said plurality of distributors.

12. The method of claim 8 wherein said managing said plurality of distributors comprises managing information necessary to maintain contact with said plurality of distributors.

13. The method of claim 8 wherein said plurality of distributors are arranged in a sales team hierarchy, and each distributor in said sales team hierarchy may receive compensation for sales by other members of said sales team hierarchy.

14. The method of claim 8, further comprising a plurality of objects for recording transactional activities relating to compensation and debt of said plurality of distributors.

16. The computer program product of claim 15 wherein said product of said product provider is an insurance policy.

17. The computer program product of claim 15, further comprising a plurality of objects for managing debts of said plurality of distributors.

18. The computer program product of claim 15, further comprising a plurality of objects for managing payment of said plurality of distributors.

19. The computer program product of claim 15 wherein said managing said plurality of distributors comprises managing information necessary to maintain contact with said plurality of distributors.

20. The computer program product of claim 15 wherein said plurality of distributors are arranged in a sales team hierarchy, and each distributor in said sales team hierarchy may receive compensation for sales by other members of said sales team hierarchy.

21. The computer program product of claim 15, further comprising a plurality of objects for recording transactional activities relating to compensation and debt of said plurality of distributors.

15. A computer program product:

a computer usable medium comprising computer readable code for managing relationships between a product provider and distributors of said product, said computer readable program code configured with;

a plurality of object modules for creating agreements between a plurality of distributors and a product provider;

a plurality of object modules for managing said plurality of distributors of said product provider;

a plurality of object modules for managing sales of products of said product provider by said distributors; and

a plurality of object modules for managing compensation of said distributors based on said sales of said products.