Biller focused business to business electronic invoice presentment and accounts receivables reconciliation system

• US 20100125521A1
• Filed: 12/03/2002
• Published: 05/20/2010
• Est. Priority Date: 12/03/2001
• Status: Abandoned Application

• Current Assignee: Bank One Delaware National Association (JP Morgan Chase & Co)
• Original Assignee: Bank One Delaware National Association (JP Morgan Chase & Co)
• Inventors: Hanan, Christopher C., Mohan, Bukkapatnam Rama
• Application Number:
  US10/308,182
• Publication Number:
  US 20100125521A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Billers and payers can resolve the disputes online and billers can pre-reconcile their systems with the changes. Payments received thru bank lockbox will be reconciled against the invoices and exceptions will be highlighted again allowing pre-reconciliation. The system allows a biller to present invoices over internet and interact with payors for efficient settlement of invoices. By eliminating the on-line payment initiation, the system will be able to drastically shorten the pilot timeframe and associated cost while still delivering a significant set of functionality and value to the user.

Claims

1. A computer implemented method for invoice presentment and reconciliation wherein the method is executed by a programmed computer processor which communicates via a computer based network, the method comprising:

enabling a biller to present an invoice, comprising invoice information, to a payor over the computer based network;

receiving lockbox information from a lockbox by the biller, wherein the lockbox information comprises payment information relating to a payment by the payor following presentment of the invoice by the biller wherein the payment is remitted by the payor to the lockbox;

integrating the payment information from the lockbox and the invoice information to create reconciliation information using the programmed computer processor;

providing the reconciliation information to the biller;

enabling the payor and the biller to conduct an online reconciliation of the invoice over the computer based network following invoice receipt, wherein the online reconciliation comprises one or more of modifying, disputing, approving, and authorizing the invoice; and

enabling the biller and the payor to conduct a collaborative dispute resolution process over the computer based network at least in part based on the online reconciliation.

3. The method of claim 1 wherein the collaborative dispute resolution process comprises updating the invoice to reflect modifications to the invoice.

4. The method of claim 1, further comprising:

reconciling an accounts receivable system associated with the biller using the reconciliation information.

2. (canceled)

5. A computer implemented system for invoice presentment and reconciliation, the system comprising:

an application server for hosting modules comprising the computer implemented system wherein the application server comprises at least one processing device, at least one input device, and at least one output device;

a plurality of storage devices for storing data associated with the computer implemented system wherein at least one of the plurality of storage devices is connected to the application server;

an invoice presentation module for enabling a biller to present an invoice, comprising invoice information, to a payor over a computer based network;

a lockbox information module for receiving lockbox information by the biller from a lockbox, wherein the lockbox information comprises payment information relating to a payor payment remitted to the lockbox, and for matching the received lockbox information with the invoice information;

an integration module for integrating the payment information from the lockbox and the invoice information to create reconciliation information, the reconciliation information relating to the payor payment;

a reconciliation module for providing the reconciliation information to the biller and for enabling the payor and the biller to conduct an online reconciliation of the invoice over the computer based network, wherein the online reconciliation comprises one or more of modifying, disputing, approving, and authorizing the invoice; and

a resolution module for enabling the biller and the payor to conduct a collaborative dispute resolution process over the computer based network.

7. The system of claim 5 wherein the collaborative dispute resolution process comprises updating the invoice to reflect modifications to the invoice.

8. The system of claim 5 wherein the reconciliation module further comprises:

an accounts receivable module for reconciling an accounts receivable system associated with the biller using the reconciliation information.

20. The system of claim 5, further comprising a receiving module for receiving a batch upload of a plurality of invoices from a biller, wherein the invoice presented to the payor is at least one of the plurality of invoices.

6. (canceled)

9. A computer implemented method for electronic invoice presentment and reconciliation wherein the method is executed by a programmed computer processor which communicates via a computer based network, the method comprising:

providing an application server to host applications comprising the computer implemented method wherein the application server comprises at least one processing device, at least one input device, and at least one output device;

storing data from the computer implemented method in a plurality of storage devices connected to the application server;

accepting a registration of a biller, wherein the biller registers by inputting information into the computer based network;

enabling the biller to create an enrollment file comprising payor information;

accepting the enrollment file into the computer based network;

creating an address entry for a payor, wherein the address entry is created based, at least in part, from the payor information in the enrollment file;

enabling the biller to create an invoice and enter the invoice into the computer based network;

enabling the payor to view the invoice over the computer based network;

enabling the payor and the biller to conduct an online reconciliation of the invoice over the computer based network, wherein the reconciliation may comprise any of modifying, disputing, approving, and authorizing the invoice;

receiving lockbox information by the biller from a lockbox, wherein the lockbox information comprises payment information relating to a payor payment remitted to the lockbox;

integrating the payment information from the lockbox and the invoice information to create reconciliation information using the programmed computer processor;

providing the reconciliation information to the biller; and

enabling the biller and the payor to conduct a collaborative dispute resolution process over the computer based network.

10. The method of claim 9 further comprising:

enabling the biller to invite the payor to register with the computer based network.

11. The method of claim 9 further comprising:

enabling the payor to download the invoice and conduct an offline reconciliation of the invoice.

12. The method of claim 9 further comprising:

enabling the biller to download the invoice and conduct an offline reconciliation of the invoice.

13. The method of claim 9 further comprising:

enabling the biller to receive payment from the payor via a lockbox mechanism; and

updating the invoice to indicate receipt of payment.

14. A computer based system for electronic invoice presentment and reconciliation, the system comprising:

an application server for hosting modules comprising the computer based system wherein the application server comprises at least one processing device, at least one input device, and at least one output device;

a plurality of storage devices for storing data associated with the computer based system wherein at least one of the plurality of storage devices is connected to the application server;

a registration acceptance module for accepting a registration of a biller, wherein the biller registers by inputting information into a computer based network;

an enrollment module for enabling the biller to create an enrollment file comprising payor information;

an enrollment acceptance module for accepting the enrollment file into the computer based network;

an address book module for creating an address entry for a payor, wherein the address entry is created based, at least in part, from the payor information in the enrollment file;

an invoice module for enabling the biller to create an invoice and enter the invoice into the computer based network;

an invoice display module for enabling the payor to view the invoice over the computer based network;

a reconciliation module for enabling the payor and the biller to conduct an online reconciliation of the invoice over the computer based network, wherein the reconciliation may comprise any of modifying, disputing, approving, and authorizing the invoice;

a receiving module for receiving lockbox information by the biller from a lockbox, wherein the lockbox information comprises payment information relating to a payor payment remitted to the lockbox;

an integration module for integrating the payment information from the lockbox and the invoice information to create reconciliation information and for providing the reconciliation information to the biller; and

a resolution module for enabling the biller and the payor to conduct a collaborative dispute resolution process over the computer based network.

15. The system of claim 14 further comprising:

an invitation module for enabling the biller to invite the payor to register with the computer based network.

16. The system of claim 14 further comprising:

a download module for enabling the payor to download the invoice and conduct an offline reconciliation of the invoice.

17. The system of claim 14 further comprising:

a download module for enabling the biller to download the invoice and conduct an offline reconciliation of the invoice.

18. The system of claim 14 further comprising:

a payment module for enabling the biller to receive payment from the payor via a lockbox mechanism; and

an updating module for updating the invoice to indicate receipt of payment.

19. A computer implemented method for invoice presentment and reconciliation wherein the method is executed by a programmed computer processor which communicates via a computer based network, the method comprising:

receiving, at a server, a batch upload of a plurality of invoices from a biller;

presenting at least one invoice of the plurality of invoices to a payor over the computer based network;

receiving lockbox information at the server from a lockbox provider, wherein the lockbox information comprises payment information relating to a payor payment remitted to the lockbox;

comparing the payment information with the invoice information at the server to determine whether the payment information matches the invoice information;

integrating the payment information from the lockbox and the invoice information at the server to create reconciliation information using the programmed computer processor;

presenting the reconciliation information to the biller;

enabling the payor and the biller to conduct an online reconciliation of the invoice over the computer based network, wherein the online reconciliation may comprise any of modifying, disputing, approving, and authorizing the invoice; and

enabling the biller and the payor to conduct a collaborative dispute resolution process over the computer based network.