Multi-supplier transaction and payment programmed processing approach with at least one supplier

• Main Author: HAHN-CARLSON DEAN W
• Format: Patent
• Language: English
• Published: 05.03.2013
• Subjects: CALCULATING; COMPUTING; COUNTING; DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES; PHYSICS; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR

In an example embodiment, a computer-based contract-management approach processes transactions involving at least one supplier (i.e., seller or sellers) fulfilling one or more sub-components of the transaction. Each of the suppliers (e.g., as well as other transaction parties) reference the transaction when communicating transaction information such as invoices, regardless of which sub-component of the transaction the seller is involved with. The invoices are associated with the transaction using the transaction referenced in each invoice and each supplier is accordingly paid for its performance of the sub-component of the transaction with which it is involved. From a buyer's perspective, the transaction is processed in accordance with the sub-components associated with the at least one supplier. Per each supplier, the transaction is processed generally two-dimensionally (via buyer and via suppliers), thus generally isolating (where desirable) each supplier from the sub-components of the transaction for which it is not a participant.