G - Physics – 06 – Q
Patent
G - Physics
06
Q
G06Q 30/06 (2012.01) G06Q 40/04 (2012.01)
Patent
CA 2520947
A supply chain procurement, settlement and finance system and method of providing procurement and settlement logistics for buyers and financing for suppliers is provided. The system comprises a transaction module for purchasing and receiving goods and services from a supplier, a finance module for providing a financial interest for the goods and services, a settlement module for determining and settling supplier and non-supplier obligations, and a repository for storing buyer data and administration data of the transaction module, finance module and settlement module. The method comprises the steps of issuing to a supplier a purchase order for goods and services, providing a financial interest to the goods and services, computing the amount owing to a supplier when an invoice is not used as the primary document to determine a liability to a supplier, processing invoices and tabulating liabilities owing to suppliers, paying the supplier, selling and collecting proceeds from the sale of goods and services sold to customers and consumers of buyer, and retiring the financial interest to the goods and services.
Gowling Lafleur Henderson Llp
Paradox Financial Solutions
LandOfFree
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