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Automated transaction processing system and approach

  • US 8,069,054 B2
  • Filed: 02/16/2009
  • Issued: 11/29/2011
  • Est. Priority Date: 05/10/2002
  • Status: Expired due to Fees
First Claim
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1. A system comprising:

  • a data storage circuit including a cross-correlation database that stores data for subsequent retrieval by the data storage circuit and processing by an integrated, electronic supply chain processing computer engine, the data includingrespective sets of first data corresponding to disparate and separately-operating entity participants, andrespective sets of second data corresponding to contract terms established by transaction participants for multiple active transactions involving the disparate and separately-operating entity participants, anda plurality of algorithms, each of the plurality of algorithms operating onfirst data, from the sets of the first data, corresponding to at least two of the disparate and separately-operating entity participants, andsecond data, from the sets of the second data, includingpreviously-negotiated parameters corresponding to prospective transactions, each prospective transaction involving said at least two of the disparate and separately-operating entity participants, andvariable parameters that impact prices for the multiple transactions; and

    a computer-based data processor, configured for performing the following steps for each prospective transaction,selecting one of the plurality of algorithms,from an applicable set of previously-negotiated parameters, selecting previously-negotiated parameters for execution by the selected one of the plurality of algorithms,retrieving current transaction data that corresponds to a parameter in the set of variable parameters on which the selected one of the plurality of algorithms operates,executing the selected one of the plurality of algorithms with the selected previously-negotiated parameters and with retrieved active transaction data to automatically derive a new term,assessing for validation said one of the prospective transactions for the current transaction with the new term at least partly defining a price for the current transaction and,in the event that said one of the prospective transactions is validated for the current transaction, generating payment data based on the price, andin the event that said one of the prospective transactions is not validated for the current transaction, generating exception data that identifies a reason that the prospective transaction is not to be validated.

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