System and method for seller-assisted automated payment processing and exception management

Abstract

A system and method for seller-assisted automated payment and adjustment processing is provided. A seller receives a payment from a buyer that does not match the seller's invoice and consequently requires an adjustment. An adjustment document creator receives the payment data from the buyer and retrieves buyer-specific order data from said seller to construct an adjustment document. A variety of adjustment documents may be created depending upon the actual adjustment required. The adjustment document may then be automatically routed to a set of one or more buyer-specific human reviewers for approval of the adjustment. The automated payment and adjustment processing system is preferably integrated with the seller's financial institution.

1 . A method for automatically generating an adjustment document, said method including: 
 receiving payment information from a buyer;    receiving invoice information from a seller;    comparing said payment information and said invoice information; and    automatically generating an adjustment document when said payment information differs from said invoice information.    
     
     
         2 . The method of  claim 1  wherein said adjustment document is one of a plurality of available adjustment documents.  
     
     
         3 . The method of  claim 2  further comprising receiving remittance information regarding said payment information and wherein said adjustment document is automatically generated based at least in part on said remittance information.  
     
     
         4 . The method of  claim 2  wherein the difference between said invoice information and said payment information is a currency amount and said adjustment document is automatically generated based at least in part on the size of the currency amount.  
     
     
         5 . The method of  claim 1  further including routing said adjustment document to a human reviewer for approval.  
     
     
         6 . The method of  claim 5  wherein the difference between said invoice information and said payment information is a currency amount and wherein said routing is based at least in part on the size of said currency amount.  
     
     
         7 . The method of  claim 5  wherein said routing is based on a predetermined seller configuration.  
     
     
         8 . The method of  claim 5  wherein said routing is based at least in part on the identity of said buyer.  
     
     
         9 . The method of  claim 5  further including routing said adjustment document to an additional human reviewer for approval.  
     
     
         10 . A method for automatically routing an adjustment document to a reviewer, said method including: 
 receiving an electronic adjustment document at a workflow approval processor, said adjustment document based on a payment received from a buyer;    determining a routing workflow for said adjustment document, wherein said routing workflow is variable depending on information in said adjustment document; and    automatically routing said adjustment document from said workflow approval processor to at least one of a plurality of reviewers based on said routing workflow.    
     
     
         11 . The method of  claim 10  wherein said routing is based on the identity of said buyer.  
     
     
         12 . The method of  claim 10  wherein adjustment document includes a currency amount being disputed and wherein said routing is based at least in part on the size of said currency amount.  
     
     
         13 . The method of  claim 10  wherein said routing is based on a predetermined seller configuration.  
     
     
         14 . The method of  claim 10  wherein said routing is based at least in part on the identity of said buyer.  
     
     
         15 . The method of  claim 10  further including routing said adjustment document to an additional human reviewer for approval.  
     
     
         16 . A method for automatically routing an adjustment document to a reviewer, said method including: 
 receiving an electronic adjustment document at a workflow approval processor, said adjustment document based on a payment received from a buyer;    determining a routing workflow for said adjustment document, wherein said routing workflow is variable depending on information in said adjustment document; and    automatically routing said adjustment document from said workflow approval processor to at least one of a plurality of reviewers based on said routing workflow,    wherein said routing is performed by an Application Service Provider (ASP).    
     
     
         17 . The method of  claim 10  further including: 
 receiving an approval from said at least one of a plurality of reviewers;    processing said payment received from said buyer using said adjustment document; and    posting said payment received from said buyer.    
     
     
         18 . The method of  claim 10  further including: 
 receiving a denial from said at least one of a plurality of reviewers; and    referring said adjustment document to a collections department.    
     
     
         19 . A system for automatically generating an adjustment document, said method including: 
 a payment processing and exception management application receiving payment information from a buyer and receiving invoice information from a seller;    a business data filter comparing said payment information and said invoice information; and    an adjustment document creator automatically generating an adjustment document when said payment information differs from said invoice information.    
     
     
         20 . The system of  claim 19  wherein said adjustment document creator includes a plurality of available adjustment documents.  
     
     
         21 . The system of  claim 20  wherein said adjustment document creator automatically generates said adjustment document based at least in part on the identity of said buyer.  
     
     
         22 . The system of  claim 20  wherein the difference between said invoice information and said payment information is a currency amount and said adjustment document creator automatically generates said adjustment document based at least in part on the size of the currency amount.  
     
     
         23 . The system of  claim 20  further including a workflow approval processor routing said adjustment document to a human reviewer for approval.  
     
     
         24 . The system of  claim 23  wherein said workflow approval processor routes said adjustment document based on the identity of said buyer.  
     
     
         25 . The system of  claim 23  wherein the difference between said invoice information and said payment information is a currency amount and wherein said workflow approval processor routes said adjustment document based at least in part on the size of said currency amount.  
     
     
         26 . The system of  claim 23  wherein said workflow approval processor routes said adjustment document based on a predetermined seller configuration.  
     
     
         27 . The system of  claim 23  wherein said workflow approval processor routes said adjustment document to an additional human reviewer for approval.  
     
     
         28 . The system of  claim 19  wherein said workflow approval processor is implemented as an Application Service Provider (ASP).  
     
     
         29 . The system of  claim 19  wherein said workflow approval processor is implemented at a financial institution  
     
     
         30 . The system of  claim 19  wherein said workflow approval processor is outsourced to a third party  
     
     
         31 . A system for automatically routing an adjustment document to a reviewer, said system including: 
 a workflow approval processor receiving an electronic adjustment document, said adjustment document based on a payment received from a buyer,    wherein said workflow approval processor determines a routing workflow for said adjustment document, wherein said routing workflow is variable depending on information in said adjustment document; and    a plurality of reviewers, wherein said workflow approval processor automatically routes said adjustment document to at least one of said plurality of reviewers based on said routing workflow.    
     
     
         32 . The system of  claim 31  wherein said workflow approval processor routes said adjustment document based on the identity of said buyer.  
     
     
         33 . The system of  claim 31  wherein adjustment document includes a currency amount being disputed and wherein said workflow approval processor routes said adjustment document based at least in part on the size of said currency amount.  
     
     
         34 . The system of  claim 31  wherein said workflow approval processor routes said adjustment document to an additional reviewer for approval.  
     
     
         35 . The system of  claim 31  wherein said workflow approval processor is implemented as an Application Service Provider (ASP).  
     
     
         36 . The system of  claim 31  wherein said workflow approval processor is implemented at a financial institution  
     
     
         37 . The system of  claim 31  wherein said workflow approval processor is outsourced to a third party  
     
     
         38 . The system of  claim 31  wherein said workflow approval processor receives an approval from said at least one of a plurality of reviewers, processes said payment received from said buyer using said adjustment document, and posts said payment received from said buyer.  
     
     
         39 . The system of  claim 31  wherein said workflow approval processor receives a denial from said at least one of a plurality of reviewers and refers said adjustment document to a collections department.  
     
     
         40 . A method for automatically generating an adjustment document, said method including: 
 receiving payment information from a buyer;    receiving invoice information from a seller;    comparing said payment information and said invoice information; and    automatically generating an adjustment document when said payment information differs from said invoice information, wherein said comparing is performed by an Application Service Provider (ASP).    
     
     
         41 . A method for automatically generating an adjustment document, said method including: 
 receiving payment information from a buyer;    receiving invoice information from a seller;    comparing said payment information and said invoice information; and    automatically generating an adjustment document when said payment information differs from said invoice information,    wherein said comparing is performed by a software package installed at a financial institution.    
     
     
         42 . A method for automatically routing an adjustment document to a reviewer, said method including: 
 receiving an electronic adjustment document at a workflow approval processor, said adjustment document based on a payment received from a buyer;    determining a routing workflow for said adjustment document, wherein said routing workflow is variable depending on information in said adjustment document; and    automatically routing said adjustment document from said workflow approval processor to at least one of a plurality of reviewers based on said routing workflow,    wherein said routing is performed by a software package installed at a financial institution.    
     
     
         43 . A method for automatically routing an adjustment document to a reviewer, said method including: 
 receiving an electronic adjustment document at a workflow approval processor, said adjustment document based on a payment received from a buyer;    determining a routing workflow for said adjustment document, wherein said routing workflow is variable depending on information in said adjustment document; and    automatically routing said adjustment document from said workflow approval processor to at least one of a plurality of reviewers based on said routing workflow,    wherein said routing is performed by a software package that has been outsourced to a third party    
     
     
         44 . A method for processing payments from a buyer, said method including: 
 receiving invoice information from a seller, said invoice information representing at least one unpaid invoice billed to a buyer by said seller;    receiving payment information from a buyer;    electronically comparing said payment information to said invoice information to make an automated determination whether said payment information is matchable to at lease one of said unpaid invoices; and    transmitting said payment information to a reviewer at said seller when said automated determination is not able to match said payment information to at least one of said unpaid invoices.    
     
     
         45 . The method of  claim 44  further including allowing the reviewer at the user to match said payment information with at least one of said unpaid invoices.  
     
     
         46 . The method of  claim 45  wherein said automated determination is not able to match said payment information to at least one of said unpaid invoices because the payment amount of said payment information does not match a payment amount included in one of said at least one unpaid invoices.  
     
     
         47 . The method of  claim 46  wherein said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices due to data entry error.  
     
     
         48 . The method of  claim 46  wherein said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices because said payment information includes a payment amount for more than one of said unpaid invoices and said payment information does not indicate which of said more than one unpaid invoices are included.  
     
     
         49 . The method of  claim 46  wherein said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices because the payment amount of said payment information represents pre-payment for an invoice that does not yet exist.  
     
     
         50 . The method of  claim 46  wherein said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices because the payment amount of said payment information represents payment for an invoice that has already been paid.  
     
     
         51 . The method of  claim 46  wherein said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices because said invoice is subject to a deduction or adjustment.  
     
     
         52 . The method of  claim 46  wherein said seller is a first seller and said payment amount of said payment information does not match said payment amount of one of said at least one unpaid invoices because said payment amount of said payment information represents a payment to a second seller other than said first seller.