Method and apparatus for processing sales transaction data
First Claim
1. ) In a computer system, a method for processing sales transaction data comprising:
- obtaining data associated with an institution having zero or more products and a distributor having zero or more sales representatives for performing a plurality of sales transactions;
obtaining components associated with a selling agreement between said institution and said distributor, said selling agreement relating to said zero or more products;
generating said selling agreement based on rules associated with said components;
presenting said selling agreement to representatives associated with said institution and said distributor.
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Abstract
Systems embodying the invention provide a way to manage the agreements that institutions such as financial services companies have with the distributors who sell their products. Each distributor has a plurality of sales representatives that earn commissions for selling such products. The commissions earned and any other constraints imposed on the sales representatives may be defined within a selling agreement that is generated using the system. In one embodiment of the invention, the system generates each selling agreement utilizes a set of components representative of the type of agreement formed between the institutions and the distributor. The components of each selling agreement contain an associated rule set that enables a configuration engine to generate an appropriate document. The system also contains a set of regulatory conditions that must be met for each sale made by the sales representatives. The system verifies that the regulatory conditions are met (e.g., continuing education credits are satisfied, license renewed, residency requirements satisfied, etc . . . ). When the selling agreement and the regulatory information is entered into the system, embodiments of the invention may be utilized to process sales transaction data to ensure that the terms of the selling agreement are followed (e.g., commission are appropriately paid) and that regulations relating to such sales are satisfied.
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Citations
65 Claims
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1. ) In a computer system, a method for processing sales transaction data comprising:
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obtaining data associated with an institution having zero or more products and a distributor having zero or more sales representatives for performing a plurality of sales transactions;
obtaining components associated with a selling agreement between said institution and said distributor, said selling agreement relating to said zero or more products;
generating said selling agreement based on rules associated with said components;
presenting said selling agreement to representatives associated with said institution and said distributor. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
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15. ) A computer program product comprising:
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a computer usable medium having computer readable program code for processing sales transaction data embodied therein, said computer readable program code configured to;
obtain data associated with an institution having zero or more products and a distributor having a plurality of sales representatives for performing a plurality of sales transactions;
obtain components associated with a selling agreement between said institution and said distributor, said selling agreement relating to said zero or more products;
generate said selling agreement based on rules associated with said components;
output said selling agreement to representatives associated with said institution and said distributor.
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28. ) An apparatus for processing sales transaction data comprising:
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a processor;
memory coupled to said processor;
said memory comprising a mechanism configured to;
obtain data associated with an institution having zero or more products and a distributor having zero or more sales representatives for performing a plurality of sales transactions;
obtain components associated with a selling agreement between said institution and said distributor, said selling agreement relating to said zero or more products;
generate said selling agreement based on rules associated with said components;
a display screen configured to output said selling agreement to representatives associated with said institution and said distributor.
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43. ) In a computer system, a method for processing sales transaction data comprising:
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capturing transaction data associated with sales performed by a plurality of sales representatives;
determining if said transaction data conforms to a set of regulatory conditions associated with said sales;
computing a plurality of compensation amounts based on said sale transactions data and said set of regulatory conditions; and
executing a payment process to compensate said plurality of sales representatives for said sales. - View Dependent Claims (44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63)
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64. ) A method for processing sales transaction data comprising:
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a means for capturing transaction data associated with sales performed by a plurality of sales representatives;
a means for determining if said transaction data conforms to a set of regulatory conditions associated with said sales;
a means for computing a plurality of compensation amounts based on said sale transactions data and said set of regulatory conditions; and
a means for executing a payment process to compensate said plurality of sales representatives for said sales.
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65. ) A computer program product comprising:
a computer usable medium having computer readable code for processing sales transaction data embodied therein, said computer readable code configured to;
capture transaction data associated with sales performed by a plurality of sales representatives;
determine if said transaction data conforms to a set of regulatory conditions associated with said sales;
compute a plurality of compensation amounts based on said sale transactions data and said set of regulatory conditions; and
execute a payment process to compensate said plurality of sales representatives for said sales.
Specification