AUTOMATIC PAYMENT COMPONENT FOR AN ELECTRONIC INVOICE PAYMENT SYSTEM
First Claim
1. An automatic invoice payment system comprising:
- a database stored on a non-transitory computer readable medium, the database including a plurality of records, each record corresponding to an invoice issued by a vendor for payment from a buyer;
a network interface configured to receive presented invoices from multiple vendors for payment by multiple buyers, wherein the presented invoices are stored in the database; and
a processor configured to associate each invoice that is presented from a vendor with a buyer for payment, and to provide electronic access to one or more of the invoices by an associated buyer; and
wherein the processor further is configured to analyze each invoice that has been presented to determine whether the presented invoice satisfies one or more predetermined rules, and when the processor determines that the presented invoice satisfies the one or more predetermined rules, to automatically set a payment initiation date upon which payment of the presented invoice is to be automatically initiated.
2 Assignments
0 Petitions
Accused Products
Abstract
An automatic invoice payment system includes a database stored on a non-transitory computer readable medium, the database including a plurality of records, each record corresponding to an invoice issued by a vendor for payment from a buyer. A network interface is configured to receive presented invoices from multiple vendors for payment by multiple buyers, wherein the presented invoices are stored in the database. The processor is configured to analyze each invoice that has been presented to determine whether the presented invoice satisfies one or more predetermined rules, and when the processor determines that the presented invoice satisfies the one or more predetermined rules, to automatically set a payment initiation date upon which payment of the presented invoice is to be automatically initiated. The processor may be configured to perform such operations by the execution of an automatic payment application stored on the non-transitory computer readable medium.
79 Citations
25 Claims
-
1. An automatic invoice payment system comprising:
-
a database stored on a non-transitory computer readable medium, the database including a plurality of records, each record corresponding to an invoice issued by a vendor for payment from a buyer; a network interface configured to receive presented invoices from multiple vendors for payment by multiple buyers, wherein the presented invoices are stored in the database; and a processor configured to associate each invoice that is presented from a vendor with a buyer for payment, and to provide electronic access to one or more of the invoices by an associated buyer; and wherein the processor further is configured to analyze each invoice that has been presented to determine whether the presented invoice satisfies one or more predetermined rules, and when the processor determines that the presented invoice satisfies the one or more predetermined rules, to automatically set a payment initiation date upon which payment of the presented invoice is to be automatically initiated. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
-
-
23. A method of automatically processing invoice payments comprising the steps of:
-
storing on a non-transitory computer readable medium a database including a plurality of records, each record corresponding to an invoice issued by a vendor for payment from a buyer; receiving over a network interface presented invoices from multiple vendors for payment by multiple buyers, wherein the presented invoices are stored in the database; and providing an automatic payment application on a non-transitory computer readable medium, which when executed by a processor performs the steps of; associating each invoice that is presented from a vendor with a buyer for payment; providing electronic access to one or more of the invoices by an associated buyer; analyzing each invoice that has been presented to determine whether the presented invoice satisfies one or more predetermined rules; and when the presented invoice is determined to satisfy the one or more predetermined rules, automatically setting a payment initiation date upon which payment of the presented invoice is to be automatically initiated. - View Dependent Claims (24, 25)
-
Specification