Title: INVOICE MANAGEMENT, PAYMENTS & SETTLEMENT SYSTEM.

Field of invention: The invention relates to Enterprise Invoice Management is an industrial strength financial settlement solution designed to support the needs of business to business commerce. The system is highly-scalable, easy to use, easy to implement and compatible with established standard. More particularly this invention relates to the system of invoice management, Payment & Settlement of funds.

Enterprise Invoice Management provides technology and a global network that improves business relationships by giving financial managers the toots they need to manage their company's transactions with other companies in ways that offer significant savings in time and money.

Enterprise Invoice Management is an industrial strength financial settlement solution designed to support the needs of business to business commerce. The system is highly-scalable, easy to use, easy to implement and compatible with established standards includes Secure sockets layer 3.0 using 128-bit encryption, Tole Based Access Control Mechanisms, Highly-secure data centre with an extensible security, architecture base on industry standards etc.,

Background of the invention discloses the prior-art which can be discussed through its disadvantages as below;

• Prior technologies do not have capability to deal with N to N participants (or Biller and Suppliers).
• Prior technologies do not support Funding agent concept.
• Prior technologies do not have capability to sent automated alerts or notifications promptly.
• Prior technologies do not have capability to automate the obvious processes in the business.

Thereby the advantages of the present system can be widely discussed herein;

• Reduce paper invoice processing cost.
• Quick turnaround for alt disputes and resolve issues online.
• Reduce the settlement time cycle.
• Reduce the settlement time cycle.
• Increase trust worthiness between AP/AR.
• Streamlined and unified process of managing invoices.
• Automate workflows and notifications.
• Work with multiple AP/AR through single channel.
• On demand reports or KPIs.
• Secure data exchange.

In the brief description of the invention, the process of the system has different features through which the invention can be described.

• Industry standard security features, authentication capability with strong encryption mechanism implemented.
• Protection of Electronic data exchange over internet using different transport modes (SSL, 2-way authentication etc
• Guarantees of data storage, backups and restores.
• Easy to customize for customers.
• Online invoice management and dispute resolution.
• Notifications, escalations and workflow to route the invoice automatically, (e.g., auto approve for trusted counter parts).
• Daily summary mail on status of the invoices (No. of invoices to pay, to approve, to resolve etc).
• Integration capability to integrate with Flat files, XML, ERP systems using BPM tools etc
• Capability to handle high volume of data
• Batch Invoice processing using file upload/download module
• Configurable file upload/download format specific to each client/customer
• Complete SOA standards compliance
• Capability to generate Reports and KPIs from the current and past data respectively

Detailed description of the invention:

The invention is further described along with the drawings.

1. User accesses the application through internet browser. (It is web based application)

2. The user requests would go to the controller of the application, (i.e., Servlet)

3. Based on the request from User, the controller decides which business component to invoke and redirect accordingly.

4. The business components would perform business validations. These are implemented by some of the best design technical patterns and practices.

5. The business components would talk to Database through JDBC calls, which is the standard way of communicating with Database in Java world.

6. The business component would read or write the data from and to data base respectively.

7. The business component would send the acknowledgement token back to controller in terms of consolidated data object or as a token depending on the user's request.

8. The controller would send the response back to User as a HTML page.

Note: there would be many technical operations involved in the entire end-to-end process between request and response. Please refer to the diagram for the detailed technical details.

CLAIMS

1. A process for the supply chain finance management comprising technical operations from end to end user.

2. A process according to claim 1, wherein the supply chain finance management has the operation techniques from all the users like buyer, supplier, funding agent and investor.

3. A process for the supply chain management according to the figures and drawings herein described.