SYSTEM AND METHOD FOR MATCHING AN OFFER WITH A QUOTE

• US 20100217713A1
• Filed: 02/26/2010
• Published: 08/26/2010
• Est. Priority Date: 08/25/2000
• Status: Active Grant

• Current Assignee: Barnaby Merrick Harford, Clair Hector, Maja Bogdanovic, Sendi Widjaja
• Original Assignee: Barnaby Merrick Harford, Clair Hector, Maja Bogdanovic, Sendi Widjaja
• Inventors: Bogdanovic, Maja, Hector, Clair, Widjaja, Sendi, Harford, Barnaby Merrick
• Granted Patent: US 8,204,810 B2
• Time in Patent Office: Days
• US Class Current: 705/80
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 10/025 Coordination of plural reservations, e.g. plural trip segments, transportation combined with accommodation
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0611 Request for offers or quotes
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 30/0625 Directed, with specific intent or strategy
• CPC Class Codes: G06Q 30/0635 Processing of requisition or of purchase orders
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/188 Electronic negotiation
• CPC Class Codes: Y10S 707/99933 Query processing, i.e. searching

Abstract

Described is a system and method that satisfies offers from customers with quotes from suppliers in a way that increases the likelihood of achieving an acceptable match. The system of the present invention is configured to receive from a customer an offer for a product. The system queries in parallel multiple suppliers for rate quotes on the desired product. Each of the suppliers is ranked according to the lowest rate quoted by each supplier. The supplier quoting the lowest rate is selected as the winner of the offer. The system may then evaluate any other rate quotes provided by the winning provider. The system may satisfy the customer'"'"'s offer with the winning provider at a higher rate (if one was provided) than the winning rate quoted, up to the customer'"'"'s offer (perhaps adjusted for a reasonable profit). In this way, even though the provider provides low rate quotes to win the offer, the provider may still realize a much higher rate for the goods or services by quoting additional, higher rate quotes as well.

Claims

1. A computer-implemented method of matching an offer for product with a supplier, comprising:

receiving an offer for a product, wherein the offer includes an offer price submitted by a customer;

obtaining, by a computing system corresponding to one or more computing devices, a plurality of responses to the offer, wherein at least one of the plurality of responses include a first and a second price quote from a supplier, wherein the first price quote is less than the second price quote and wherein at least one of the plurality of responses include a rating provided by a respective supplier, the rating associated with the product; and

after obtaining the plurality of responses;

identifying, by the computing system, qualifying price quotes for the product from the plurality of responses, wherein the qualifying price quotes correspond to price quotes less than the offer price;

selecting, by the computing system, a qualifying price quote based on at least one of a lowest price quote and a rating provided by a supplier;

identifying, by the computing system, a supplier associated with the selected price quote; and

causing, by the computing system, a matching of the offer for the product with the identified supplier.

2. The computer-implemented method of claim 1, wherein the offer further includes a description of the product.

3. The computer-implemented method of claim 1, wherein the product is a travel service.

4. The computer-implemented method of claim 1, wherein causing the matching of the offer for the product includes making a reservation for a travel service provided by the selected supplier.

5. The computer-implemented method of claim 1, wherein selecting qualifying quotes for the product further comprises determining a threshold value corresponding to a minimum price quote and excluding price quotes above the threshold value.

6. A method, executed on a query server in response to receiving an offer for a product from a client computer, for matching the offer with a quote from a seller, the method comprising:

at the query server;

obtaining a plurality of responses from sellers, wherein each response comprises a price quote for the product and wherein at least one response from a first seller comprises at least two quotes for the product, wherein the at least two quotes for the product from the first seller are different; and

after obtaining the plurality of responses;

identifying qualifying price quotes from the plurality of responses, wherein the qualifying quotes correspond to price quotes for the product that are less than a price associated with the offer, and

for the qualifying quotes;

selecting a price quote of the qualifying quotes based on at least one of price and rating associated with the product, wherein at least one response from the plurality of response includes multiple price quotes from a same seller;

identifying a seller associated with the selected price quote; and

causing the matching of the offer received from the client computer to a quote from the identified seller.

7. The method of claim 6, wherein the offer received from the client computer identifies a minimum quality rating and a maximum price for the product that would be accepted in a quote from one of the plurality of sellers.

8. The method of claim 7 further comprising publishing the offer for the product received from the client computer to the plurality of sellers in a quote while withholding the maximum price for the product that would be accepted.

9. The method of claim 7, wherein identifying qualifying price quotes includes identifying price quotes that are associated with a quality rating for the product that at least matches the minimum quality rating identified in the offer.

10. The method of claim 7, wherein identifying qualifying quotes includes determining a first price according to the price associated with the offer received from the client computer, and identifying price quotes from the plurality of responses that are less than the first price.

11. The method of claim 7, wherein identifying qualifying quotes includes determining a first price according to the price associated with the offer received from the client computer;

and

identifying price quotes from the plurality of responses that specify a quality rating for the product that at least matches the minimum qualify rating identified in the offer and that are less than the first price.

12. The method of claim 11, wherein selecting the price quote of the qualifying quotes comprises ranking the qualifying quotes according to an identified price quote and qualify rating, and selecting a price quote that identifies the lowest price for the product.

13. The method of claim 11, wherein selecting the price quote of the qualifying quotes comprises ranking the qualifying quotes according to an identified price quote and qualify rating, and selecting a price quote associated with a highest qualify rating for the product.

14. The method of claim 11, wherein selecting the price quote of the qualifying quotes comprises ranking the qualifying quotes according to an identified price quote and quality rating, and selecting a price quote associated with a highest quality rating and lowest price for the product.

15. The method of claim 11, wherein causing the matching the offer received from the client computer to the quote obtained from the identified seller comprises:

evaluating all price quotes obtained from the identified seller; and

causing a matching of the offer received from the client computer with a price quote from the identified seller corresponding to a highest price quote.

16. The method of claim 11, wherein causing the matching the offer received from the client computer to the quote obtained from the identified seller associated with the most preferential quote comprises:

evaluating all price quotes obtained from the identified seller; and

causing a matching of the offer received from the client computer with a price quote from the identified seller associated with a highest quality rating.

17. The method of claim 11, wherein causing the matching the offer received from the client computer to the quote obtained from the identified seller comprises:

evaluating all price quotes obtained from the identified seller; and

causing a matching of the offer received from the client computer with a price quote from the identified seller that identifies a highest quality rating and a highest price quote.

18. The method of claim 11, wherein the first price is calculated as a function of a desired profit by the query.