Automated transaction processing system and approach

• US 20030233286A1
• Filed: 05/12/2003
• Published: 12/18/2003
• Est. Priority Date: 05/10/2002
• Status: Active Grant

• Current Assignee: Syncada LLC (US Bancorp)
• Original Assignee: Syncada LLC (US Bancorp)
• Inventors: Hahn-Carlson, Dean W., Langer, Richard G., Xie, Weiwen, Armstrong, Kevin M.
• Granted Patent: US 7,496,519 B2
• Time in Patent Office: Days
• US Class Current: 705/317
• CPC Class Codes: G06Q 10/083 Shipping
• CPC Class Codes: G06Q 30/018 Certifying business or products
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

Transaction management for contract and contract-related approaches is facilitated. According to an example embodiment of the present invention, a transaction management computer is programmed to automatically set contract terms for a transaction based on business rules previously established between parties to a transaction. In one implementation, the transaction management node automatically derives a contract term including a pricing-related term for a transaction between a buyer and seller using contract information therefor. In one instance, previously-agreed-upon price approaches, such as fixed pricing, seller-controlled pricing, quantity-related tiered pricing and pricing management schemes are stored and used by the transaction management node to automatically derive the prices. With these approaches, pricing disputes that can occur after a transaction has been processed are reduced and/or eliminated.

Claims

1. An automated pricing system for communications with buyers and sellers who provide respective sets of business rules for transactions to be conducted by the automated pricing system, the automated pricing system comprising:

a computer and communications node adapted to receive and use the business rules to derive a specific term for a transaction to be implemented by the buyer and seller, the transaction having a price that is set as a function of the specific term.

2. The system of claim 1, wherein the computer and communications node is adapted to derive a specific term that includes a price term.

3. The system of claim 1, wherein the computer and communications node is adapted to store the business rules.

4. The system of claim 1, wherein the computer and communications node is adapted to retrieve the business rules from a node remote from the computer and communications node.

5. The system of claim 1, wherein the computer and communications node is adapted to receive proposed product-pricing data from a seller and to provide the product-pricing data to potential buyers and, upon acceptance by a potential buyer, storing the product-pricing data, and wherein the computer and communications node is further adapted to use the stored product-pricing data to set the price of a transaction to be implemented between said potential buyer and seller.

6. The system of claim 1, wherein the computer and communications node is adapted to receive business rules from the buyer and seller via data entry terminals remote from the computer and communications node.

7. The system of claim 6, further comprising at least one of the data entry terminals.

8. The system of claim 6, wherein the computer and communications node is programmed to control access to the computer and communications node for transmitting the business rules from the data entry terminals.

9. The system of claim 1, wherein the computer and communications node is further adapted to match a product identification term from the buyer with a seller product for identifying a particular product for which the specific term is derived.

10. The system of claim 9, wherein the computer and communications node is adapted to assign a buyer identification term to a particular seller product in response to an input from at least one of the buyer and the seller.

11. The system of claim 1, wherein the computer and communications node includes a pricing engine programmed to use business rules and transaction information to derive a pricing term for a transaction, the transaction information including at least one of:

a contract identifier for the transaction, an item identifier for an item being sold, quantity and order date.

12. The system of claim 11, wherein the pricing engine is adapted to identify transaction prices to a buyer for a selected transaction between the buyer and at least two sellers.

13. The system of claim 12, wherein the pricing engine is adapted to automatically select and execute a lowest-price transaction between the buyer and one of the sellers for which the selected transaction is the lowest price, relative to the selected transaction between the buyer and the others of the at least two sellers.

14. The system of claim 11, wherein the pricing engine is adapted to identify prices for a particular transaction between the buyer and a plurality of sellers and to inform the buyer of the prices.

15. The system of claim 1, wherein the business rules include compliance information that must be met before making the transaction payable, wherein the computer and communications node is further adapted to use the compliance information to authorize payment for the transaction.

16. The system of claim 15, wherein the compliance information includes at least one of:

notice of delivery of goods, notice of receipt of goods, notice of acceptance of goods, receipt of customs clearance and payment of customs fees.

17. An automated transaction system comprising:

a buyer terminal configured and arranged to interface with a buyer, display seller offerings and receive and transmit buyer contract information from the buyer;

a seller terminal configured and arranged to interface with a seller, display at least some of the seller offerings and receive and transmit seller contract information from the seller; and

a centrally-accessible computer and communications node including a collaborative contracts manager that is adapted to communicate with the buyer terminal and the seller terminal and to provide a common source of data for users of the buyer terminal and users of the seller terminal, the data including characteristics and pricing of the seller offerings, and further adapted to automatically derive rules by which purchases of the seller offerings are made in response to contract information including transaction pricing information from at least one of the buyer and the seller.

18. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further adapted to automatically characterize and modify rules by which purchases of the seller offerings are made using nested contracts involving a manufacturer'"'"'s contract with a buying organization that specifies a base sell price for an item and a buyer'"'"'s contract with the buying organization for said item.

19. The automated transaction system of claim 18, wherein the centrally-accessible computer and communications node is configured and arranged to use the nested contracts and the base sell price to establish a seller offering for display at the buyer terminal.

20. The automated transaction system of claim 19, wherein the centrally-accessible computer and communications node is further adapted to add a markup to seller offerings available through a buying organization and to directly quote a final sell price to potential buyers, using the nested contracts, the base sell price and the markup.

21. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further adapted to input, access, maintain, and manage rules determining conditions for user interaction with the system.

22. The automated transaction system of claim 21, wherein the centrally-accessible computer and communications node is further adapted to input, access, maintain, and manage buyer rules including at least one of:

buyer rules for determining conditions for user interaction with the system;

seller rules for determining conditions for user interaction with the system and seller offering information for determining a unit cost of seller offerings.

23. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further adapted to store at least one criterion defining ownership of data and access to data and, using the at least one criterion, control information made available to a user via the centrally-accessible computer and communications node.

24. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further adapted to store at least one criterion defining what pricing data can be approved by the system without human interaction and, using the at least one criterion, control information made available to a user via the centrally-accessible computer and communications node.

25. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further configured and arranged for cross-referencing different identification numbers from a plurality of sources, the different identification numbers corresponding to a single product.

26. The automated transaction system of claim 25, wherein the centrally-accessible computer and communications node is further configured and arranged to use the cross-referenced identification numbers to identify characteristics of a single product.

27. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further configured and arranged to store the buyer and seller profile information and to use the stored profile information to automatically negotiate contract terms in response to a request for change in terms input via at least one of the buyer and seller terminals.

28. The automated transaction system of claim 27, wherein the centrally-accessible computer and communications node is configured and arranged to use the profile information to automatically negotiate payment terms of the seller offerings in response to a buyer-input request for a change in payment terms.

29. The automated transaction system of claim 27, wherein the centrally-accessible computer and communications node is configured and arranged to use the profile information to automatically negotiate shipping terms of the seller offerings in response to a buyer-input request for a change in shipping terms.

30. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is further configured and arranged to receive updated seller offering characteristics from the seller terminal and, in response, to send a notification to the buyer terminal of the updated seller offering characteristics.

31. The automated transaction system of claim 30, wherein the centrally-accessible computer and communications node is further configured and arranged to receive an acceptance notification of the updated seller offering from the buyer terminal and, in response, to update the rules by which purchases of the sellers offerings are made.

32. The automated transaction system of claim 31, wherein the centrally-accessible computer and communications node includes a database configured and arranged to store seller offering characteristics and wherein the centrally-accessible computer and communications node is further configured and arranged to update the database to include new seller offering characteristics corresponding to the updated seller offering characteristic.

33. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is adapted to store product identifiers with associated sell prices input via the seller terminal and to use the stored product identifiers and associated sell prices to automatically form a contract in response to a buyer purchase request for product corresponding to the stored product identifiers and at the stored associated sell price for the product identifier.

34. The automated transaction system of claim 33, wherein the centrally-accessible computer and communications node is adapted to store sell prices for selected quantity ranges of product corresponding to the stored product identifiers, and in response to receiving a request from the buyer terminal for a particular quantity of product, to automatically execute a contract for purchase of the product at the stored sell price for the selected quantity range in which the particular product quantity falls.

35. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is configured and arranged to search for and identify contracts meeting search criteria submitted from at least one of the buyer and seller terminals and to report the identified contracts to the at least one of the buyer and seller terminals submitting the search criteria.

36. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node includes a database configured and arranged to store product information and to cause the catalog information to be displayed at the buyer terminal.

37. The automated transaction system of claim 36, wherein the centrally-accessible computer and communications node is further configured and arranged to use buyer configuration information specific to a selected buyer at the buyer terminal and to configure the displayed catalog information for the selected buyer.

38. The automated transaction system of claim 17, wherein the centrally-accessible computer and communications node is adapted to track order fulfillment characteristics.

39. The automated transaction system of claim 38, wherein the centrally-accessible computer and communications node is adapted to track the percentage of an order quantity that has been fulfilled.

40. A centrally-accessible computer and communications node configured and arranged to:

receive respective sets of business rules for transactions between transacting parties;

communicate with a plurality of buyer terminals and seller terminals and to provide a common source of data for users of the terminals, the data including seller offerings;

control access to the data and for configuring the type and arrangement of the data to be communicated with the at least one buyer terminal in response to the identification of a buyer receiving the communications; and

for a transaction to be implemented by a buyer for the seller offerings, use the business rules for the buyer and sellers to automatically derive a price term for the transaction.

41. The centrally-accessible computer and communications node of claim 40, further comprising:

at least one computer configured and arranged for accessing data from the common source for communicating the data; and

at least one communications port configured and arranged for transmitting signals with at least one of the terminals.

42. The centrally-accessible computer and communications node of claim 41, further comprising identification means configured and arranged for identifying a buyer at a buyer terminal for configuring the type and arrangement of the data to be communicated to the buyer.

43. The centrally-accessible computer and communications node of claim 42, wherein the identification means includes a computer programmed to identify a buyer in response to an identification input.

44. The centrally-accessible computer and communications node of claim 42, wherein the computer is programmed to communicate seller offerings to buyers in response to the identification of the buyer.

45. The centrally-accessible computer and communications node of claim 44, wherein the computer is programmed to communicate seller offerings of the same product to different buyers, the communicated offerings having terms and conditions that are selected in response to the identification of each buyer.

46. The centrally-accessible computer and communications node of claim 44, wherein the computer is programmed to communicate similar offerings from different sellers using similar terms and conditions to a buyer in response to the buyer'"'"'s identification.

47. The centrally-accessible computer and communications node of claim 46, wherein the computer is programmed to communicate the similar offerings using similar terms in response to the sellers selecting offering parameters indicating that the buyer should receive similar terms and conditions for the similar offerings from each of the sellers.

48. The centrally-accessible computer and communications node of claim 41, further comprising:

a data storage arrangement configured and arranged to store data for at least one user at one of the terminals, wherein the computer is further configured and arranged to communicate the stored information with the terminals via the communications port.

49. The centrally-accessible computer and communications node of claim 48, wherein the computer is programmed to restrict access to the stored data based upon a set of access characteristics defined at least by said at least one user owning the data.

50. The centrally-accessible computer and communications node of claim 41, wherein at least one buyer and at least one seller use different product identification codes for the same product and wherein the computer is programmed to match the product identification code of the at least one buyer with a product identification code of the at least one seller.

51. The centrally-accessible computer and communications node of claim 41, wherein the computer is programmed to store and update invoice information for at least one of the users in response to a transaction.

52. The centrally-accessible computer and communications node of claim 41, wherein the computer is programmed to store and update invoice information in response to at least one of:

an order from a buyer, receipt of an order by a seller, shipment by a seller, receipt by a buyer, rejection by a buyer and payment from a buyer.

53. The centrally-accessible computer and communications node of claim 51, wherein the computer is programmed to automatically effect payment to the seller for the transaction.

54. The centrally-accessible computer and communications node of claim 53, wherein the computer is programmed to invoice the buyer for the transaction.

55. The centrally-accessible computer and communications node of claim 53, wherein the computer is programmed to automatically effect payment to the seller from a third party credit source authorized to pay the seller on behalf of the buyer.

56. The centrally-accessible computer and communications node of claim 41, wherein the computer is programmed to suspend an offering in response to a user input changing terms of the offering.

57. The centrally-accessible computer and communications node of claim 41, wherein the computer includes a plurality of computers.

58. An automated pricing system for use by a buyer and a seller who provide respective sets of business rules, the automated pricing system comprising:

means for providing business rules for pricing a transaction to be implemented by the buyer and seller; and

means for receiving the business rules from the buyer and the seller and using the business rules to derive a specific term for the transaction, the transaction having a price that is set as a function of the specific term.

59. A method for automated pricing of transactions between a buyer and seller who provide business rules, the method comprising:

providing business rules for pricing a transaction to be implemented by the buyer and seller; and

receiving and using the business rules to derive a specific term for the transaction, the transaction having a price that is set as a function of the specific term.

60. A method for transaction management in a system including a centrally accessible computer and communications node, the method comprising:

receiving respective sets of business rules from buyers and sellers;

interfacing with the centrally-accessible computer and communications node via a seller terminal and displaying at least one seller offering at the seller terminal;

interfacing with the centrally-accessible computer and communications node via a buyer terminal and displaying at least one seller offering at the buyer terminal;

communicating data from the centrally-accessible computer and communications node to the buyer terminal and the seller terminal, and characterizing and modifying one of the sets of business rules by which purchases of the at least one seller offering is made at the centrally-accessible computer and communications node; and

using the characterized and modified business rules, deriving a specific term for a transaction to be implemented by a particular buyer and at least one particular seller, the transaction having a price that is set as a function of the specific term.

61. The method of claim 60, wherein characterizing and modifying rules includes programming the centrally-accessible computer and communications node to automatically characterize and modify rules by which purchases of the at least one seller offering is made.

62. The method of claim 60, wherein deriving a specific term includes deriving a price variance term, further comprising:

comparing an offer for a seller offering made by the particular buyer to determine compliance between the offer and a price of the seller offering within the price variance term; and

in response to determining that the offer received complies with the contract terms, setting the price for a transaction between the buyer and the seller.

63. The method of claim 60, wherein deriving a specific term for a transaction further comprises:

receiving a request from a buyer for a product having a first product identification;

matching the first product identification to at least one other product identification for the same product from at least one seller, the product identifications being different; and

deriving a price term for the first product as a function of the matching.

64. The method of claim 60, wherein characterizing and modifying rules by which purchases of the at least one seller offering is made includes assigning financial credit to at least one buyer and wherein deriving a specific term for a transaction includes using the financial credit to approve business transactions for the at least one buyer.