Payor focused business to business electronic invoice presentment and accounts payable reconciliation system and method
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Accused Products
Abstract
The present invention provides a system that creates a secure image of an invoice accessible to the payors and their billers through the web. Users have the option of viewing the invoice and adjudicating any disputes prior to payment. Once a payment decision has been made, payors can generate one stream of output from their enterprise resource program (ERP) systems to make payments to all of their vendors irrespective of the mode of payment. Payments will be made to all billers based on their existing preferences and the billers do not have to change their processes at all. The payments and issues file will be returned to the payors to complete posting to their accounts payables. The system provides data-feeds to all payors and billers to pre-reconcile their A/P and A/R systems.
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Citations
5 Claims
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1. (canceled)
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2. A computer based method for implementing a biller registry, the computer based method comprising the steps of:
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enabling, by a computer processor, a biller to input payment preference information at an interface wherein the payment preference information comprises a combination of payment address, payment type, and payment due date; storing, by the computer processor, the payment preference information in a database; and enabling, by the computer processor, a payor to access the payment preference information through a user interface; wherein the payor creates one or more payor schedules for one or more payments based at least in part on the payment preference information, wherein the biller accesses the one or more payor schedules for the one or more payments and wherein the biller reconciles one or more accounts receivable systems using the one or more payor schedules; and wherein the one or more payments are authorized by the payor and automatically processed by a lockbox administrator based at least in part on the payment preference information; wherein the computer processor is linked to a computer based network.
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3. (canceled)
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4. A computer based system for implementing a biller registry, the computer based system comprising:
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an input interface for enabling a biller to input payment preference information, wherein the payment preference information comprises a combination of payment address, payment type, and payment due date; a database for storing the payment preference information; and a payor access module for enabling a payor to access the payment preference information in the biller registry; wherein the payor creates one or more payor schedules for one or more payments based at least in part on the payment preference information, wherein the biller accesses the one or more payor schedules for the one or more payments and wherein the biller reconciles one or more accounts receivable systems using the one or more payor schedules; and wherein the one or more payments are authorized by the payor and automatically processed by a lockbox administrator based at least in part on the payment preference information.
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5-17. -17. (canceled)
Specification