| US 7,496,519 B2 | ||
| Automated transaction processing system and approach | ||
| Dean W. Hahn-Carlson, St. Paul, Minn. (US); Richard G. Langer, Lakeville, Minn. (US); Kevin M. Armstrong, Ham Lake, Minn. (US); and Weiwen Xie, Woodbury, Minn. (US) | ||
| Assigned to U.S. Bank National Association, Minneapolis, Minn. (US) | ||
| Filed on May 12, 2003, as Appl. No. 10/436,878. | ||
| Claims priority of provisional application 60/379561, filed on May 10, 2002. | ||
| Prior Publication US 2003/0233286 A1, Dec. 18, 2003 | ||
| Int. Cl. G06Q 10/00 (2006.01); G06Q 30/00 (2006.01); G06F 17/00 (2006.01); G06G 7/00 (2006.01) | ||
| U.S. Cl. 705—1 [705/400] | 4 Claims |
| 1. A method comprising:
retrieving and storing data for subsequent processing by an integrated, electronic supply chain processing computer engine,
including retrieving and storing
respective sets of first data, including business rules, corresponding to disparate and separately-operating entity participants,
including buyers and sellers, and
respective sets of second data corresponding to contract terms for executing multiple transactions involving the disparate
and separately-operating entity participants, and
a plurality of algorithms, each of the plurality of algorithms using first data, from the sets of the first data, corresponding
to at least two of the disparate and separately-operating entity participants, and
second data, from the sets of the second data, including
previously-negotiated parameters corresponding to prospective transactions, each prospective transaction involving said at
least two of the disparate and separately-operating entity participants, and
variable parameters that impact prices for the multiple transactions; and
in a computer-based data processor, performing the following steps for each of the prospective transactions,
selecting one of the plurality of algorithms, and selecting previously-negotiated parameters for execution by the selected
one of the plurality of algorithms,
retrieving current transaction data that corresponds to a parameter in the set of variable parameters on which the selected
one of the plurality of algorithms operates,
executing the selected one of the plurality of algorithms with the selected previously-negotiated parameters and with retrieved
current transaction data to automatically derive a new term,
assessing for validation said one of the prospective transactions for an actual transaction with the new term at least partly
defining a price for the actual transaction and,
in the event that said one of the prospective transactions is validated for an actual transaction, generating payment data
based on the price, and
in the event that said one of the prospective transactions is not validated for an actual transaction, generating exception
data that identifies a reason said one of the prospective transactions is not to be validated.
|