Multi-Supplier Transaction and Payment Programmed Processing System and Approach
First Claim
1. An automated transaction system comprising:
- a data storage arrangement that stores;
data identifying profiled parties including buyers and sellers;
data for identifying contract-defined transactions between each buyer and at least two sellers that fulfill respective sub-parts of the transaction;
contract-defined terms for the contract-defined transactions; and
sets of business rule variables and transaction processing rule variables respectively defined on behalf of the profiled parties, andcross-correlation data for correlating each contract-defined transaction with data identifying profiled parties for the transaction;
a correlation engine configured to respond to order and payment request data sets by accessing the correlation database to identify a contract-defined transaction related to the order and payment request data, and to correlate, with the transaction, data identifying profiled parties and sets of business rule and transaction processing rule variables for the correlated parties;
an automatic transaction processing engine configured, for each sub-part of each transaction, to execute an audit algorithm, using the correlated variables and contract-defined terms for the correlated contract as inputs, to audit a payment request data set for the sub-part of the transaction against the received order data to determine a condition of payment authorization for the payment request data set; and
a payment engine configured to respond to the determined condition of payment authorization indicating that payment for an audited payment request data set is appropriate by using the correlated variables and contract-defined terms for the correlated contract to determine a payment amount, and generate and output an electronic payment instruction, based upon the correlated business rule variables and the determined payment amount, to effect payment to the seller.
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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.
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Citations
10 Claims
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1. An automated transaction system comprising:
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a data storage arrangement that stores; data identifying profiled parties including buyers and sellers;
data for identifying contract-defined transactions between each buyer and at least two sellers that fulfill respective sub-parts of the transaction;
contract-defined terms for the contract-defined transactions; and
sets of business rule variables and transaction processing rule variables respectively defined on behalf of the profiled parties, andcross-correlation data for correlating each contract-defined transaction with data identifying profiled parties for the transaction; a correlation engine configured to respond to order and payment request data sets by accessing the correlation database to identify a contract-defined transaction related to the order and payment request data, and to correlate, with the transaction, data identifying profiled parties and sets of business rule and transaction processing rule variables for the correlated parties; an automatic transaction processing engine configured, for each sub-part of each transaction, to execute an audit algorithm, using the correlated variables and contract-defined terms for the correlated contract as inputs, to audit a payment request data set for the sub-part of the transaction against the received order data to determine a condition of payment authorization for the payment request data set; and a payment engine configured to respond to the determined condition of payment authorization indicating that payment for an audited payment request data set is appropriate by using the correlated variables and contract-defined terms for the correlated contract to determine a payment amount, and generate and output an electronic payment instruction, based upon the correlated business rule variables and the determined payment amount, to effect payment to the seller. - View Dependent Claims (2, 3, 4, 5, 6)
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7. An automated transaction system comprising:
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a data storage arrangement that stores; data identifying profiled parties including buyers and financiers that provide funds on behalf of the buyers;
data for identifying contract-defined transactions between each buyer and at least two financiers that fulfill respective sub-parts of the transaction using a pool of funds provided by at least two financial suppliers each of the financial suppliers providing a portion of the pool of funds as specified in the stored contract data;
contract-defined terms for the contract-defined transactions; and
sets of business rule variables and transaction processing rule variables respectively defined on behalf of the profiled parties, andcross-correlation data for correlating each contract-defined transaction with data identifying profiled parties for the transaction; a correlation engine configured to respond to received event data by accessing the correlation database to identify a contract-defined transaction related to the event data, and to correlate, with the transaction, data identifying profiled parties and sets of business rule and transaction processing rule variables for the correlated parties; an automatic transaction processing engine configured to, for each sub-part of each transaction and the portion of the pool of funds relating thereto, execute an audit algorithm, using the correlated variables and contract-defined terms for the correlated contract as inputs, to audit repayment for the sub-part of the transaction to determine a condition of payment authorization therefor; and a payment engine configured to respond to the determined condition of payment authorization by using the correlated variables and contract-defined terms for the correlated contract to determine a payment amount, and generate and output an electronic payment instruction, based upon the correlated business rule variables and the determined payment amount, to effect payment to the financier providing funds for the sub-part of the transaction. - View Dependent Claims (8, 9)
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10. A processor-implemented method for processing electronic transactions, the method comprising:
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storing, in a data storage arrangement data identifying profiled parties including buyers and sellers;
data for identifying contract-defined transactions between each buyer and at least two sellers that fulfill respective sub-parts of the transaction;
contract-defined terms for the contract-defined transactions; and
sets of business rule variables and transaction processing rule variables respectively defined on behalf of the profiled parties, andcross-correlation data for correlating each contract-defined transaction with data identifying profiled parties for the transaction; operating a correlation engine module, in response to order and payment request data sets, to access the correlation database to identify a contract-defined transaction related to the order and payment request data, and to correlate, with the transaction, data identifying profiled parties and sets of business rule and transaction processing rule variables for the correlated parties; operating an automatic transaction processing engine module to, for each sub-part of each transaction, execute an audit algorithm, using the correlated variables and contract-defined terms for the correlated contract as inputs, to audit a payment request data set for the sub-part of the transaction against the received order data to determine a condition of payment authorization for the payment request data set; and operating a payment engine module to, in response to the determined condition of payment authorization indicating that payment for an audited payment request data set is appropriate, use the correlated variables and contract-defined terms for the correlated contract to determine a payment amount, and generate and output an electronic payment instruction, based upon the correlated business rule variables and the determined payment amount, to effect payment to the seller.
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Specification