Using commercial share of wallet in financial databases

• US 20070192165A1
• Filed: 08/02/2006
• Published: 08/16/2007
• Est. Priority Date: 10/29/2004
• Status: Active Grant

• Current Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Haggerty, Kathleen, Yuan, Chao, Turner, Geraldine, Lyon, Charles, Phelan, Robert, Okoh, Benedict, Ruterman, Jon
• Granted Patent: US 8,326,672 B2
• Time in Patent Office: Days
• US Class Current: 705/7.29
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/3676 Balancing accounts
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company'"'"'s spend capacity. Companies which provide databases of financial information about other companies can use scores provided by this CSoW/CSoSW modeling approach to give an indication of how much the company is likely to spend in the future.

Claims

1. A method for enhancing a report pertaining to a business, comprising:

(a) modeling industry spending patterns using individual and aggregate corporate data, including financial statement data;

(b) estimating a commercial size of spending wallet of the business based on financial statement data of the business, total business spend of the business, and the model of industry spending patterns; and

(c) including an indication of the commercial size of spending wallet of the business in the report.

2. The method of claim 1, wherein the including step comprises:

including an indication of the commercial size of spending wallet of the business in a report, wherein the report includes information from a subscription-based business database.

3. The method of claim 2, wherein the including step comprises:

including an indication of the commercial size of spending wallet of the business in a report, wherein the report includes information from a subscription-based financial database.

4. The method of claim 2, wherein the including step comprises:

including an indication of the commercial size of spending wallet of the business in a report, wherein the indication is a score and wherein the score is combined with an additional score indicative of credit history.

5. A computer-based system for enhancing a report pertaining to a business, comprising:

a processor; and

a memory in communication with the processor for storing a plurality of processing instructions for directing the processor to

model industry spending patterns using individual and aggregate corporate data, including financial statement data,

estimate a commercial size of spending wallet of the business based on financial statement data of the business, total business spend of the business, and the model of industry spending patterns, and

include an indication of the commercial size of spending wallet of the business in the report.

6. The method of claim 5, wherein the processing instructions for directing the processor to include an indication of the commercial size of spending wallet of the business in the report comprise:

including an indication of the commercial size of spending wallet of the business in a report, wherein the report includes information from a subscription-based business database.

7. The method of claim 5, wherein the processing instructions for directing the processor to include an indication of the commercial size of spending wallet of the business in the report comprise:

including an indication of the commercial size of spending wallet of the business in a report, wherein the report includes information from a subscription-based financial database.

8. The method of claim 5, wherein the processing instructions for directing the processor to include an indication of the commercial size of spending wallet of the business in the report comprise:

including an indication of the commercial size of spending wallet of the business in a report, wherein the indication is a score and wherein the score is combined with an additional score indicative of credit history.