Using commercial share of wallet to manage vendors
First Claim
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1. A method of determining insurance risk, comprising:
- modeling, by a computer-based system for determining said insurance risk comprising a computer processor and a tangible, non-transitory memory, industry spending patterns using individual corporate data and aggregate corporate data, including financial statement data, wherein the modeling comprises;
identifying the cost of goods sold and operating expenses from at least one of the individual corporate data and the aggregate corporate data;
at least one of identifying the cardable operating expenses from the operating expenses and identifying a cardable operating expenses ratio from aggregate corporate data;
at least one of summing the cardable operating expenses with the cost of goods sold and summing the cost of goods sold with the product of operating expenses and the cardable operating expenses ratio;
estimating, by the computer-based system, a commercial size of spending wallet of a company based on, at least, known financial statement data of the company, total known business spending of the company, and the model of industry spending patterns, wherein the commercial size of spending wallet is the total cardable business spending of the company, and wherein the model of industry spending patterns is used to infer financial statement data and spending data that is not known; and
determining an insurance risk using at least the estimated commercial size of spending wallet of the company.
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Abstract
Commercial size of spending wallet (“CSoSW”) is the total business spend of a business including cash but excluding bartered items. Commercial share of wallet (“CSoW”) is the portion of the spending wallet that is captured by a particular financial company. A modeling approach utilizes various data sources to provide outputs that describe a company'"'"'s spend capacity. Government agencies, procurement departments, and others that patronize small businesses can use CSoW/CSoSW to determine businesses that should be awarded contracts and businesses that should be denied. CSoW/CSoSW may also be used to manage approved vendor lists.
41 Citations
20 Claims
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1. A method of determining insurance risk, comprising:
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modeling, by a computer-based system for determining said insurance risk comprising a computer processor and a tangible, non-transitory memory, industry spending patterns using individual corporate data and aggregate corporate data, including financial statement data, wherein the modeling comprises; identifying the cost of goods sold and operating expenses from at least one of the individual corporate data and the aggregate corporate data; at least one of identifying the cardable operating expenses from the operating expenses and identifying a cardable operating expenses ratio from aggregate corporate data; at least one of summing the cardable operating expenses with the cost of goods sold and summing the cost of goods sold with the product of operating expenses and the cardable operating expenses ratio; estimating, by the computer-based system, a commercial size of spending wallet of a company based on, at least, known financial statement data of the company, total known business spending of the company, and the model of industry spending patterns, wherein the commercial size of spending wallet is the total cardable business spending of the company, and wherein the model of industry spending patterns is used to infer financial statement data and spending data that is not known; and determining an insurance risk using at least the estimated commercial size of spending wallet of the company. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system for determining insurance risk, the system comprising:
a non-transitory memory communicating with a processor, the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; modeling, by the processor, industry spending patterns using individual corporate data and aggregate corporate data, including financial statement data, wherein the modeling comprises; identifying the cost of goods sold and operating expenses from at least one of the individual corporate data and the aggregate corporate data; at least one of identifying the cardable operating expenses from the operating expenses and identifying a cardable operating expenses ratio from aggregate corporate data; at least one of summing the cardable operating expenses with the cost of goods sold, and summing the cost of goods sold with the product of operating expenses and the cardable operating expenses ratio; estimating, by the processor, a commercial size of spending wallet of a company based on, at least, known financial statement data of the company, total known business spending of the company, and the model of industry spending patterns, wherein the commercial size of spending wallet is the total cardable business spending of the company, and wherein the model of industry spending patterns is used to infer financial statement data and spending data that is not known; and determining an insurance risk using at least the estimated commercial size of spending wallet of the company. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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18. An article of manufacture including a computer readable medium having instructions stored thereon that, in response to execution by a computing device, cause the computing device to perform operations comprising:
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modeling, by the computing device, industry spending patterns using individual corporate data and aggregate corporate data, including financial statement data, wherein the modeling comprises; identifying the cost of goods sold and operating expenses from at least one of the individual corporate data and the aggregate corporate data; at least one of identifying the cardable operating expenses from the operating expenses and identifying a cardable operating expenses ratio from aggregate corporate data; at least one of summing the cardable operating expenses with the cost of goods sold and summing the cost of goods sold with the product of operating expenses and the cardable operating expenses ratio; estimating, by the computing device, a commercial size of spending wallet of a company based on, at least, known financial statement data of the company, total known business spending of the company, and the model of industry spending patterns, wherein the commercial size of spending wallet is the total cardable business spending of the company, and wherein the model of industry spending patterns is used to infer financial statement data and spending data that is not known; and determining an insurance risk using at least the estimated commercial size of spending wallet of the company. - View Dependent Claims (19, 20)
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Specification