EXPENSE TRACKING, ELECTRONIC ORDERING, INVOICE PRESENTMENT, AND PAYMENT SYSTEM AND METHOD

• US 20110010278A1
• Filed: 03/12/2010
• Published: 01/13/2011
• Est. Priority Date: 12/06/2002
• Status: Active Grant

• Current Assignee: Altisource Holdings, S.A.R.L. (Altisource Portfolio Solutions SA), Andrei Iancu, Ashley Moody Florida Office of The Attorney General and Successors Thereto, Jeanette Nunez Lieutenant Governor of Florida and Successors Thereto, Joan D. Heuer, Laurel M Lee Florida Secretary of State and Successors Thereto, Steven Mnuchin United States Secretary of The Treasury and Successors Thereto, Timothy E Gribben Commissioner For Bureau of The Fiscal Service Agency of The United States Department of The Treasury and Successors and Assigns Thereto
• Original Assignee: Altisource Portfolio Solutions SA
• Inventors: Kamath, Vikram, Bulman, Russell G., Karjagi, Sanket, Kumar, Suresh, Kumar, Rajesh, Sumathi, Bhavana, Nayak, Biswajit, Bose, Ritwik
• Granted Patent: US 10,127,558 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Systems and methods for automating an invoice approval process are described herein. Rules are created which are evaluated against a set of attributes. A rules engine is automatically invoked upon receipt of a document in an electronic invoice presentment and payment system. The rules engine determines which rules are applicable to documents received and processed in the system, and applies those applicable rules in a pre-defined sequence.

Claims

1. A method of evaluating documents in an electronic invoice presentment and payment system, comprising:

creating one or more document processing rules based on one or more attributes;

associating the one or more document processing rules with one or more groups to which the one or more document processing rules applies; and

invoking a rules engine to process the one or more document processing rules upon receipt of a document.

2. The method of claim 1, wherein creating one or more document processing rules comprises:

for each of the one or more document processing rules, selecting a document function, from a plurality of document functions, that the rule will be based on;

wherein the selected document function has associated with it one or more of the one or more attributes.

3. The method of claim 2, wherein the plurality of document functions includes one or more of a budget, a purchase order, a receiving report, an acceptance report, or an invoice.

4. The method of claim 3, wherein the selected document function is an invoice, and wherein the one or more attributes comprises an invoice date, a product, and a product quantity.

5. The method of claim 3, wherein the selected document function is a purchase order, and wherein the one or more attributes comprises a date, a product, a product quantity, and a product price per unit.

6. The method of claim 3, wherein the selected document function is a receiving report, and wherein the one or more attributes comprises a date, a product, and a product quantity.

7. The method of claim 2, wherein creating one or more document processing rules further comprises:

adding a logical condition to one or more of the one or more attributes.

8. The method of claim 1, wherein the one or more groups comprises one or more of a vendor, a category of vendors, a product, a group of products, and a budget.

9. The method of claim 1, wherein creating one or more document processing rules further comprises:

validating the one or more document processing rules prior to forwarding the rule to the rules engine.

10. The method of claim 1, wherein invoking the rules engine comprises:

determining which of the one or more document processing rules applies to the received document; and

processing the determined rules sequentially.

11. The method of claim 10, further comprising:

upon determining that one of the applicable rules has failed, executing a workflow associated with the rule.

12. The method of claim 11, wherein the workflow indicates that the document is to be forwarded to an administrator for manual online approval.

13. The method of claim 11, wherein the workflow indicates that the document is to be rejected.

14. The method of claim 11, wherein the workflow indicates that the document is to be submitted to a dispute resolution process.

15. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to perform automated document approval, the control logic comprising:

a first computer readable program code means for creating one or more document processing rules based on one or more attributes;

a second computer readable program code means for associating the one or more document processing rules with one or more groups to which the one or more document processing rules applies; and

a third computer readable program code means for invoking a rules engine to process the one or more document processing rules upon receipt of an document.

16. An electronic invoice presentment and payment system for automatically evaluating documents, comprising:

a processor;

a user interface functioning via the processor;

a transmitter accessible by the processor for transmitting information; and

a receiver accessible by the processor for receiving information;

wherein one or more document processing rules are created via the processor based on one or more attributes;

wherein the once or more document processing rules are associated, via the processor, with one or more groups to which the one or more document processing rules apply; and

wherein a rules engine is invoked, via the processor, to process the one or more document processing rules upon receipt of an document.

17. An electronic invoice presentment and payment system for performing automated document evaluation, comprising:

a module for creating one or more document processing rules based on one or more attributes;

a module for associating the one or more document processing rules with one or more groups to which the one or more document processing rules applies; and

a module for invoking a rules engine to process the one or more document processing rules upon receipt of a document.