Construction payment management system and method with automatic workflow management features

• US 20060271397A1
• Filed: 07/13/2006
• Published: 11/30/2006
• Est. Priority Date: 06/29/2004
• Status: Abandoned Application

• Current Assignee: Textura LLC (Oracle Corporation)
• Original Assignee: Textura LLC (Oracle Corporation)
• Inventors: Eichhorn, William H., Allin, Patrick J., Niden, Howard L., Pedersen, Richard P. Jr., Bagley, Matthew R., Cherry, Charles C., Flynn, Michael L.
• Application Number:
  US11/486,319
• Publication Number:
  US 20060271397A1
• Time in Patent Office: Days
• US Class Current: 705/9
• CPC Class Codes: G06F 3/0484 for the control of specific functions or operations, e.g. selecting or manipulating an object, an image or a displayed text element, setting a parameter value or selecting a range
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/0631 Resource planning, allocation, distributing or scheduling for enterprises or organisations
• CPC Class Codes: G06Q 10/06313 Resource planning in a project environment
• CPC Class Codes: G06Q 10/103 Workflow collaboration or project management
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G06Q 50/08 Construction
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system and method for managing a construction payment process. One method embodying the invention can include storing a plurality of workflows to control automatic electronic notification sequences of the construction payment process, electronically receiving information related to a construction project from a first participant, automatically electronically transmitting a first notification to a second participant in the construction project based on the information received from the first participant, electronically requesting a response from the second participant related to the first notification, electronically receiving a response from the second participant related to the first notification, automatically validating the response, and automatically electronically transmitting a second notification to a third participant included in the construction project based on the response received from the second participant.

Claims

1. A method of managing a construction payment process, the method comprising the acts of:

storing a plurality of workflows to control automatic electronic notification sequences of the construction payment process;

electronically receiving information related to a construction project from a first participant;

automatically electronically transmitting a first notification to a second participant in the construction project based on the information received from the first participant;

electronically requesting a response from the second participant related to the first notification;

electronically receiving a response from the second participant related to the first notification;

automatically validating the response; and

automatically electronically transmitting a second notification to a third participant in the construction project based on the response received from the second participant.

2. The method of claim 1 wherein the third participant includes the first participant.

3. The method of claim 1 wherein the second notification includes a legally-binding document.

4. The method of claim 1 wherein at least one of the first notification and the second notification is electronically transmitted in real-time.

5. The method of claim 1 wherein at least one of the first notification and the second notification is electronically transmitted based on user preferences.

6. The method of claim 1 wherein the first notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.

7. The method of claim 1 wherein the second notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.

8. The method of claim 1 wherein the information received from the first participant includes project information.

9. The method of claim 8 wherein the first notification includes a notification of project responsibilities assigned to the second participant.

10. The method of claim 9 wherein the response received from the second participant includes at least one of an acceptance of the project responsibilities and a declination of the project responsibilities.

11. The method of claim 10 wherein the second notification includes at least one of a notification that the second participant accepted the project responsibilities and a notification that the second participant declined the project responsibilities.

12. The method of claim 1 wherein the information received from the first participant includes draw initiation information.

13. The method of claim 12 wherein the first notification includes a notification to enter an invoice.

14. The method of claim 13 wherein the response received from the second participant includes an invoice amount.

15. The method of claim 14 wherein the invoice amount includes at least one of a percentage of work completed and a dollar amount of work completed.

16. The method of claim 14 and further comprising the act of automatically generating at least one of an invoice and a sworn statement based on the invoice amount.

17. The method of claim 1 wherein the information received from the first participant includes funds disbursement information.

18. The method of claim 17 wherein the first notification includes a notification to sign a lien waiver.

19. The method of claim 18 wherein the response received from the second participant includes an electronically-executed lien waiver.

20. The method of claim 19 wherein the second notification includes at least one of a notification that the lien waiver has been signed and a notification that a plurality of lien waivers have been signed.

21. The method of claim 20 and further comprising the act of electronically transmitting a third notification to the second participant, the third notification including a notification that funds have been disbursed to the second participant.

22. A construction payment management system comprising:

an application server that stores a notifications manager, the notifications manager storing a plurality of workflows to control automatic electronic notification sequences of the construction payment management system, automatically electronically transmitting a first notification to a second participant in a construction project based on information received from a first participant and related to the construction project, automatically validates the response, and automatically electronically transmitting a second notification to a third participant in the construction project based on a response received from the second participant.

23. The construction payment management system of claim 22 wherein the third participant includes the first participant.

24. The construction payment management system of claim 22 wherein the second notification includes a legally-binding document.

25. The construction payment management system of claim 22 wherein at least one of the first notification and the second notification is electronically transmitted in real-time.

26. The construction payment management system of claim 22 wherein at least one of the first notification and the second notification is electronically transmitted based on user preferences.

27. The construction payment management system of claim 22 wherein the first notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.

28. The construction payment management system of claim 22 wherein the second notification includes at least one of a screen notice, an email message, a text message, a voice message, and a facsimile message.

29. The construction payment management system of claim 22 wherein the information received from the first participant includes project information.

30. The construction payment management system of claim 29 wherein the first notification includes a notification of project responsibilities assigned to the second participant.

31. The construction payment management system of claim 30 wherein the response received from the second participant includes at least one of an acceptance of the project responsibilities and a declination of the project responsibilities.

32. The construction payment management system of claim 31 wherein the second notification includes at least one of a notification that the second participant accepted the project responsibilities and a notification that the second participant declined the project responsibilities.

33. The construction payment management system of claim 22 wherein the information received from the first participant includes draw initiation information.

34. The construction payment management system of claim 33 wherein the first notification includes a notification to enter an invoice.

35. The construction payment management system of claim 34 wherein the response received from the second participant includes an invoice amount.

36. The construction payment management system of claim 35 wherein the invoice amount includes at least one of a percentage of work completed and a dollar amount of work completed.

37. The construction payment management system of claim 35 and further comprising a draw module stored in the application server, the draw module automatically generating at least one of the invoice and a sworn statement based on the invoice amount.

38. The construction payment management system of claim 22 wherein the information received from the first participant includes funds disbursement information.

39. The construction payment management system of claim 38 wherein the first notification includes a notification to sign a lien waiver.

40. The construction payment management system of claim 39 wherein the response received from the second participant includes an electronically-executed lien waiver.

41. The construction payment management system of claim 40 wherein the second notification includes at least one of a notification that the lien waiver has been signed and a notification that a plurality of lien waivers have been signed.

42. The construction payment management system of claim 41 wherein the notifications manager electronically transmits a third notification to the second participant, the third notification including a notification that funds have been disbursed to the second participant.