Bill payment optimization using a genetic algorithm
First Claim
1. A computer-implemented method of determining an optimal bill payment plan corresponding to a plurality of payment obligations in accounts payable of a finance account while evaluating a plurality of objectives related to amounts of payments in the bill payment plan for a day, comprising a 24 hour period, the computer-implemented method comprising:
- generating, by a computer processor, a genome population having a first set of vectors, each vector representing the bill payment plan, numerically defining for each payment obligation a payment amount; and
modifying iteratively, by the computer processor, the genome population using a genetic algorithm until a vector of the first set of vectors forming the optimal bill payment plan is determined that maximizes a total amount of payment of the payment obligations on the day within an amount of available cash in the finance account for the day while simultaneously evaluating the plurality of objectives,wherein the genetic algorithm comprises determining a fitness for the vector of the first set of vectors, andwherein determining the fitness for the vector comprises;
obtaining a plurality of objective values (OG) for the plurality of objectives, wherein the plurality of objective values represent a plurality of degrees of optimization of the plurality of objectives when the payment obligations are paid in accordance with the bill payment plan represented by the vector,normalizing and standardizing the plurality of objective values (OG) to obtain a plurality of normalized, standardized objective (NSO) values (Oi) for the plurality of objectives,obtaining a composite objective value (Ocomp) corresponding to the vector by the following equation;
where
Ocomp is the composite objective value corresponding to the vector,
Oi is the NSO value corresponding to the plurality of objectives,
wi is a weight corresponding to the plurality of objectives, and
n is a number of objectives, and applying a fitness function to the composite objective value Ocomp to obtain a fitness score corresponding to the vector.
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Abstract
A genetic algorithm determines a plan for payment of payment obligations in accounts payable of a finance account. The genetic algorithm operates to satisfy certain objectives, including maximizing or minimizing the total amount of payments of the payment obligations on a given day within the amount of cash available for the given day. A genome population including a number of vectors is generated. The genome population is modified using a genetic algorithm, until at least one vector represents an optimal bill payment plan for the payment obligations such that payment of each payment obligation in accordance with the vector most nearly satisfies one or more objectives.
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Citations
30 Claims
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1. A computer-implemented method of determining an optimal bill payment plan corresponding to a plurality of payment obligations in accounts payable of a finance account while evaluating a plurality of objectives related to amounts of payments in the bill payment plan for a day, comprising a 24 hour period, the computer-implemented method comprising:
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generating, by a computer processor, a genome population having a first set of vectors, each vector representing the bill payment plan, numerically defining for each payment obligation a payment amount; and modifying iteratively, by the computer processor, the genome population using a genetic algorithm until a vector of the first set of vectors forming the optimal bill payment plan is determined that maximizes a total amount of payment of the payment obligations on the day within an amount of available cash in the finance account for the day while simultaneously evaluating the plurality of objectives, wherein the genetic algorithm comprises determining a fitness for the vector of the first set of vectors, and wherein determining the fitness for the vector comprises; obtaining a plurality of objective values (OG) for the plurality of objectives, wherein the plurality of objective values represent a plurality of degrees of optimization of the plurality of objectives when the payment obligations are paid in accordance with the bill payment plan represented by the vector, normalizing and standardizing the plurality of objective values (OG) to obtain a plurality of normalized, standardized objective (NSO) values (Oi) for the plurality of objectives, obtaining a composite objective value (Ocomp) corresponding to the vector by the following equation; where
Ocomp is the composite objective value corresponding to the vector,
Oi is the NSO value corresponding to the plurality of objectives,
wi is a weight corresponding to the plurality of objectives, and
n is a number of objectives, andapplying a fitness function to the composite objective value Ocomp to obtain a fitness score corresponding to the vector.
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2. A computer-implemented method of determining a bill payment plan corresponding to a plurality of payment obligations in accounts payable of a finance account while evaluating one or more objectives related to amounts of payments in the bill payment plan, the computer-implemented method comprising:
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generating, by a computer processor, a genome population having a first set of vectors, each vector in the first set of vectors representing the bill payment plan for a day, comprising a 24 hour period, numerically defining a payment amount corresponding to each payment obligation in the accounts payable; obtaining a plurality of objectives with respect to the bill payment plan, each objective associated with a weight indicating the importance of the objective; and modifying, by the computer processor, the genome population by use of a genetic algorithm, including; determining a fitness for each of the vectors in the genome population using objective values, the objective values determined by applying objective functions to the vectors, each objective value weighted by a corresponding weight, wherein determining the fitness for each vector comprises; obtaining objective values (OG) corresponding to associated objectives, each objective value representing a degree to which an associated objective of the associated objectives is optimized when the payment obligations are paid in accordance with the bill payment plan represented by the vector, normalizing and standardizing each of the objective values (OG) to obtain normalized, standardized objective values (Oi) corresponding to each of the objectives, obtaining a composite objective value (Ocomp) corresponding to the vector by the following equation;
where
Ocomp is the composite objective value corresponding to the vector,
Oi is the normalized, standardized objective value corresponding to each of the objectives,
wi is a weight corresponding to each objective, and
n is a number of objectives, andapplying a fitness function to the composite objective value Ocomp to obtain a fitness score corresponding to the vector; and introducing new vectors in the genome population derived from other vectors including the first set of vectors, until at least one of the vectors in the genome population represents the bill payment plan for the day, such that payment of each payment obligation in the accounts payable in accordance with the bill payment plan maximizes a total amount of payment of the payment obligations within an amount of available cash in the finance account for the day while simultaneously evaluating the one or more objectives. - View Dependent Claims (3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28)
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29. A computer readable medium storing computer executable instructions for determining an optimal bill payment plan corresponding to a plurality of payment obligations in accounts payable of a finance account while evaluating a plurality of objectives related to amounts of payments in the bill payment plan for a day, comprising a 24 hour period, the instructions comprising functionality for:
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generating a genome population having a first set of vectors, each vector representing the bill payment plan, numerically defining for each payment obligation a payment amount; and modifying iteratively the genome population using a genetic algorithm until a vector of the first set of vectors forming the optimal bill payment plan is determined that maximizes a total amount of payment of the payment obligations on the day within an amount of available cash in the finance account for the day while simultaneously evaluating the plurality of objectives wherein the genetic algorithm comprises determining a fitness for the vector of the first set of vectors, and wherein determining the fitness for the vector comprises; obtaining a plurality of objective values (OG) for the plurality of objectives, wherein the plurality of objective values represent a plurality of degrees of optimization of the plurality of objectives when the payment obligations are paid in accordance with the bill payment plan represented by the vector, normalizing and standardizing the plurality of objective values (OG) to obtain a plurality of normalized, standardized objective (NSO) values (Oi) for the plurality of objectives, obtaining a composite objective value (Ocomp) corresponding to the vector by the following equation; where
Ocomp is the composite objective value corresponding to the vector,
Oi is the NSO value corresponding to the plurality of objectives,
wi is a weight corresponding to the plurality of objectives, and
n is a number of objectives, andapplying a fitness function to the composite objective value Ocomp to obtain a fitness score corresponding to the vector.
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30. A computer-implemented method of determining an optimal bill payment plan corresponding to a plurality of payment obligations in accounts payable of a finance account while evaluating a plurality of objectives related to amounts of payments in the bill payment plan for a day, comprising a 24 hour period, the computer-implemented method comprising:
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generating, by a computer processor, a genome population having a first set of vectors, each vector representing the bill payment plan, numerically defining for each payment obligation a payment amount; and modifying iteratively, by the computer processor, the genome population using a genetic algorithm until a vector of the first set of vectors forming the optimal bill payment plan is determined that minimizes a total amount of payment of the payment obligations on the day while simultaneously evaluating the plurality of objectives, wherein the genetic algorithm comprises determining a fitness for the vector of the first set of vectors, and wherein determining the fitness for the vector comprises; obtaining a plurality of objective values (OG) for the plurality of objectives, wherein the plurality of objective values represent a plurality of degrees of optimization of the plurality of objectives when the payment obligations are paid in accordance with the bill payment plan represented by the vector, normalizing and standardizing the plurality of objective values (OG) to obtain a plurality of normalized, standardized objective (NSO) values (Oi) for the plurality of objectives, obtaining a composite objective value (Ocomp) corresponding to the vector by the following equation; where
Ocomp is the composite objective value corresponding to the vector,
Oi is the NSO value corresponding to the plurality of objectives,
wi is a weight corresponding to the plurality of objectives; andn is a number of objectives, and applying a fitness function to the composite objective value Ocomp to obtain a fitness score corresponding to the vector.
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Specification