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 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;
calculating a 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 score; and
applying the one or more collection strategies to any unmatched new account and any tied account.
5 Assignments
0 Petitions
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.
37 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 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; calculating a 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 score; and applying 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 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 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 computer-readable medium with a computer program for managing and collecting receivables, the computer-readable medium comprising code portions stored therein, the computer-readable medium code portions comprising:
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a first executable portion for providing 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 second executable portion for 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; a third executable portion for calculating a score for any unmatched new account and any tied account based on at least one financial parameter; and a fourth executable portion for determining one or more collection strategies for any unmatched new account and any tied account based on the calculated 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