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Methods for automating financial transactions

  • US 20040111346A1
  • Filed: 11/26/2003
  • Published: 06/10/2004
  • Est. Priority Date: 11/27/2002
  • Status: Abandoned Application
First Claim
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1. A method of managing supply chain transactions between a business organization and its customers and suppliers comprising, in combination, the steps of:

  • establishing a standard data model which defines the content of data representing said transactions, said data model specifying the content of data describing individual financial payment transactions performed by said bank on behalf of said business organization and additional data specifying the nature of the underlying commercial transaction between said business organization and its customer or supplier which gives rise to each of said financial payment transactions, establishing a database system for storing data that conforms to said standard data model, transmitting data to said database describing each given one of said financial payment transactions to be performed by said bank, transmitting said additional data to said database specifying the nature of the underlying commercial transaction between said business organization and its customer or supplier which created the need for said given one of said financial payment transactions, and in response to a request from said business organization, performing a selected one of a plurality of available data processing operations on the data in said database system.

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