Multi-supplier transaction and payment programmed processing approach with at least one supplier
First Claim
1. An automated transaction arrangement comprising:
- a data storage arrangement adapted to store contract data for parties to a transaction, the contract data including a transaction identifier (ID) and information relating to a contract for the exchange of merchant offerings and involving a buyer party and at least one supplier party, each supplier party fulfilling a sub-part of the contract; and
an automatic transaction processor configured and arranged to receive order information including transaction ID information from the buyer party, the order information including both identification and quantities of merchant offerings the buyer desires to purchase as well as a monetary amount the buyer expects to pay for the merchant offerings, receive payment request information including transaction ID information from the at least one supplier party, the payment request information reflecting payment characteristics of the transaction related to the merchant offerings provided via the supplier party providing the payment request information, audit the payment request information from each supplier party against the stored contract data associated with the transaction ID in the payment request information and against the received order information including the transaction ID, the audit determining a condition of payment authorization for the payment request information, and in response to the determined condition of payment authorization indicating that payment to a supplier party providing the audited payment request is appropriate, facilitate settlement processing of the payment request as a function of the payment request and a sub-part of a contract to which the payment request applies.
3 Assignments
0 Petitions
Accused Products
Abstract
In an example embodiment, a computer-based contract-management approach processes transactions involving at least one supplier (i.e., seller or sellers) fulfilling one or more sub-components of the transaction. Each of the suppliers (e.g., as well as other transaction parties) reference the transaction when communicating transaction information such as invoices, regardless of which sub-component of the transaction the seller is involved with. The invoices are associated with the transaction using the transaction referenced in each invoice and each supplier is accordingly paid for its performance of the sub-component of the transaction with which it is involved. From a buyer'"'"'s perspective, the transaction is processed in accordance with the sub-components associated with the at least one supplier. Per each supplier, the transaction is processed generally two-dimensionally (via buyer and via suppliers), thus generally isolating (where desirable) each supplier from the sub-components of the transaction for which it is not a participant.
117 Citations
4 Claims
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1. An automated transaction arrangement comprising:
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a data storage arrangement adapted to store contract data for parties to a transaction, the contract data including a transaction identifier (ID) and information relating to a contract for the exchange of merchant offerings and involving a buyer party and at least one supplier party, each supplier party fulfilling a sub-part of the contract; and
an automatic transaction processor configured and arranged to receive order information including transaction ID information from the buyer party, the order information including both identification and quantities of merchant offerings the buyer desires to purchase as well as a monetary amount the buyer expects to pay for the merchant offerings, receive payment request information including transaction ID information from the at least one supplier party, the payment request information reflecting payment characteristics of the transaction related to the merchant offerings provided via the supplier party providing the payment request information, audit the payment request information from each supplier party against the stored contract data associated with the transaction ID in the payment request information and against the received order information including the transaction ID, the audit determining a condition of payment authorization for the payment request information, and in response to the determined condition of payment authorization indicating that payment to a supplier party providing the audited payment request is appropriate, facilitate settlement processing of the payment request as a function of the payment request and a sub-part of a contract to which the payment request applies.
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2. An automated transaction arrangement comprising:
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means for storing contract data for parties to a transaction, the contract data including a transaction identifier (ID) and information relating to a contract for the exchange of merchant offerings and involving a buyer party and at least one supplier party, each supplier party fulfilling a sub-part of the contract;
receiving means for receiving order information including transaction ID information from the buyer party, the order information including both identification and quantities of merchant offerings the buyer desires to purchase as well as a monetary amount the buyer expects to pay for the merchant offerings;
communicating means for receiving payment request information including transaction ID information from said at least one supplier party, the payment request information reflecting payment characteristics of the transaction related to the merchant offerings provided via the supplier party providing the payment request information;
auditing means for auditing the payment request information from each supplier party against the stored contract data associated with the transaction ID in the payment request information and against the received order information including the transaction ID, the audit means determining a condition of payment authorization for the payment request information; and
settlement means, responsive to the determined condition of payment authorization, for facilitating settlement processing of the payment request as a function of the payment request and a sub-part of a contract to which the payment request applies.
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3. A processor-implemented method for processing business transactions involving at least one supplier, the method comprising:
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storing contract data for parties to a transaction, the contract data including a transaction identification (ID) and information relating to a contract involving the exchange of merchant offerings between a buyer party and at least one supplier party, each supplier party fulfilling a sub-part of the contract;
receiving payment request information including a transaction ID from the at least one supplier party, the payment request information reflecting payment characteristics of the transaction related to the merchant offerings provided by the supplier party providing the payment request information;
auditing the payment request information from the at least one supplier party as a function of a comparison of the payment request information with stored contract data associated the transaction ID and thereby determining a condition of payment authorization for the payment request information; and
facilitating settlement of a sub-part of the contract involving merchant offerings provided by the particular supplier party as a function of the payment request information from the particular supplier party and the determined condition of payment authorization.
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4. A processor-implemented method for processing business transactions involving at least one supplier, the method comprising:
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storing contract data for parties to a transaction, the contract data including a transaction identification (ID) and information relating to a contract involving the exchange of merchant offerings between a buyer party and at least one supplier party, each supplier party fulfilling a sub-part of the contract;
receiving payment request information including a transaction ID from the at least one supplier party, the payment request information reflecting payment characteristics of the transaction related to the merchant offerings provided by the supplier party providing the payment request information;
auditing the payment request information from each supplier party as a function of a comparison of the transaction ID in the payment request information with the stored transaction ID in the contract data; and
in response to the transaction ID in the payment request information from a particular supplier party matching the transaction ID in the contract data, facilitating settlement of a sub-part of the contract involving merchant offerings provided by the particular supplier party as a function of the payment request information from the particular supplier party and the sub-part of the contract.
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Specification