Method, system, and computer-readable medium for managing and collecting receivables
First Claim
1. A method for managing and collecting receivables, the method comprising:
- providing at least one pre-existing account with first account information, the first account information having first account party data;
providing at least one new account, each new account comprising new account information, the new account information having new account party data;
determining, by a processor, whether the first account party data of the at least one pre-existing account matches the new account party data of the at least one new account and if so, tying the at least one new account with the at least one matching pre-existing account to create a tied account;
calculating, by the processor, a collectability score for any unmatched new account and any tied account based on at least one financial parameter;
determining, by the processor, one or more collection strategies for any unmatched new account and any tied account based on the calculated collectability score; and
applying, by the processor, the one or more collection strategies to any unmatched new account and any tied account.
5 Assignments
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Accused Products
Abstract
A method, system, and computer-readable medium for managing and collecting receivables are disclosed. Such a method includes providing at least one pre-existing account with first account information, the first account information having first account party data and providing at least one new account, each new account comprising new account information, the new account information having new account party data. The method also includes determining whether the first account party data of the pre-existing account matches the new account party data of the at least one new account and if so, tying the at least one new account with the matching pre-existing account to create a tied account. The method further includes calculating a score for any unmatched new account and any tied account based on at least one financial parameter and applying one or more collection strategies.
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Citations
20 Claims
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1. A method for managing and collecting receivables, the method comprising:
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providing at least one pre-existing account with first account information, the first account information having first account party data; providing at least one new account, each new account comprising new account information, the new account information having new account party data; determining, by a processor, whether the first account party data of the at least one pre-existing account matches the new account party data of the at least one new account and if so, tying the at least one new account with the at least one matching pre-existing account to create a tied account; calculating, by the processor, a collectability score for any unmatched new account and any tied account based on at least one financial parameter; determining, by the processor, one or more collection strategies for any unmatched new account and any tied account based on the calculated collectability score; and applying, by the processor, the one or more collection strategies to any unmatched new account and any tied account. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for managing and collecting receivables, the system comprising:
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a data storage unit having stored therein at least one pre-existing account with first account information, the first account information having first account party data, and at least one new account, each new account comprising new account information, the new account information having new account party data; a computer, coupled to the data storage unit, that is configured to; determine whether the first account party data of the at least one pre-existing account matches the new account party data of the at least one new account and if so, tie the at least one new account with the at least one matching pre-existing account to create a tied account; calculate a score for any unmatched new account and any tied account based on at least one financial parameter; determine one or more collection strategies for any unmatched new account and any tied account based on the calculated score; and apply one or more collection strategies to any unmatched new account and any tied account. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A non-transitory computer-readable medium for managing and collecting receivables, the non-transitory computer-readable medium having code embodied thereon, said code when executed by a computer causes the computer to perform steps including:
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providing at least one pre-existing account with first account information, the first account information having first account party data; providing at least one new account, each new account comprising new account information, the new account information having new account party data; determining whether the first account party data of the at least one pre-existing account matches the new account party data of the at least one new account and if so, tying the at least one new account with the at least one matching pre-existing account to create a tied account; calculating a collectability score for any unmatched new account and any tied account based on at least one financial parameter; determining one or more collection strategies for any unmatched new account and any tied account based on the calculated collectability score; and applying the one or more collection strategies to any unmatched new account and any tied account. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification