Methods and systems for vendor assurance
View Patent ↗Methods and systems for managing financial transactions. Specifically, the invention includes methods and systems for creating order profiles used to select vendors for carrying out third-party sub-transactions needed to complete financial transactions. A product related to the completion of the financial transaction is selected, a vendor ordering profile is selected, a product vendor that most closely matches the characteristics designated in the ordering profile is selected, and the selected product is ordered from the selected product vendor.
1. A method for managing a financial transaction, the method comprising:
receiving, via a computer, a selection of a product related to performing the financial transaction;
receiving, via the computer, a selection of an ordering profile related to the product from one or more ordering profiles stored in the computer, said ordering profile having a plurality of characteristics;
applying, via the computer, the ordering profile to a predetermined list of product vendors by comparing the plurality of characteristics in the selected ordering profile to characteristics associated with each vendor stored in the computer;
obtaining, via the computer, a selection of a product vendor from the predetermined list to supply the product, the selected product vendor having characteristics aligned with the plurality of characteristics of the selected ordering profile; and
outputting the selection of the product vendor on an output device.
2. The method of claim 1 , further comprising:
ordering the selected product from the selected product vendor.
3. The method of claim 1 , wherein the ordering profile is one selected from a group consisting of an existing ordering profile and a new ordering profile.
4. The method of claim 3 , wherein the ordering profile is a new ordering profile, the method further comprising:
receiving a selection of an ordering area;
receiving a selection of parameters for preselected criteria for evaluating vendors;
receiving a selection of a distribution method; and
receiving a selection of distribution parameters.
5. The method of claim 4 , wherein the distribution method is one selected from a group consisting of an equal distribution method, a specified distribution method, and a qualitative distribution method.
6. The method of claim 1 , wherein obtaining a selection of a product vendor includes:
ranking the product vendors in the predetermined list based on criteria specified by an end user; and
obtaining a selection of a ranked vendor having characteristics that most closely align with the plurality of characteristics of the ordering profile, based on a ranking of the plurality of characteristics.
7. The method of claim 6 , wherein, if the selected ranked vendor has reached a predetermined number of orders designated as a limit, obtaining a selection of another ranked vendor.
8. A system for managing a financial transaction between a product vendor and a system user, the system comprising:
at least one processor;
a user interface operatively coupled to the at least one processor; and
a repository accessible via the at least one processor;
wherein said at least one processor is configured to:
receive a selection of at least one product stored in the repository that is related to the completion of the financial transaction,
receive a selection of a vendor ordering profile related to the product wherein the selected vendor ordering profile has a plurality of characteristics;
compare the selected ordering profile plurality of characteristics to characteristics associated with each vendor stored in the repository;
either
display a list of vendors that result from the comparison of the vendor ordering profile plurality of characteristics to the characteristics associated with each vendor so that the user can select a vendor, or
automatically select a vendor to supply the product based on the results of the comparison of the vendor ordering profile plurality of characteristics to the characteristics associated with each vendor.
9. The system of claim 8 , wherein the ordering profile is one one of an existing ordering profile stored in the repository and a new ordering profile entered by the user.
10. The system of claim 9 , wherein the ordering profile is a new ordering profile, the at least one processor further configured to:
receive a selection of an ordering area;
receive a selection of parameters for preselected criteria for evaluating vendors;
receive a selection of a distribution method; and
receive a selection of distribution parameters.
11. The system of claim 10 , wherein the distribution method is one of an equal distribution method, a specified distribution method and a qualitative distribution method.
12. The system of claim 8 , wherein the at least one processor is further configured to:
rank the product vendors in the predetermined list based on criteria specified by an end user; and
obtain a selection of a ranked vendor having characteristics that most closely align with the plurality of characteristics of the ordering profile, based on a ranking of the plurality of characteristics.
13. The system of claim 12 , wherein, if the selected ranked vendor has reached a predetermined number of orders designated as a limit, the at least one processor is configured to obtain a selection of another ranked vendor.
14. A method for managing a financial transaction, the method comprising:
receiving, via at least one processor, a selection of a product related to performing the financial transaction;
selecting, via the at least one processor, an ordering profile relating to the product having a plurality of characteristics;
applying, via the at least one processor, the ordering profile to a plurality of vendors by comparing the selected ordering profile plurality of characteristics to characteristics associated with each vendor of the plurality of vendors that are stored in memory operatively coupled to the at least one processor;
ranking, via the at least one processor, the plurality of vendors based on the results of the comparison of the selected ordering profile plurality of characteristics to characteristics associated with each vendor;
selecting, via the at least one processor, one vendor from the plurality of vendors to supply the product having characteristics that most closely align with the plurality of characteristics of the ordering profile based on a ranking of the plurality of characteristics.
15. The method of claim 14 , further comprising ordering the selected product from the selected vendor.
16. The method of claim 14 , wherein the ordering profile is one of an existing ordering profile and a new ordering profile.
17. The method of claim 16 , wherein the ordering profile is a new ordering profile, the method further comprising:
selecting, via that at least one processor, an ordering location;
receiving, via the at least one processor, a selection of parameters for preselected criteria for evaluating vendors;
receiving, via the at least one processor, a selection of a distribution method; and
receiving, via the at least one processor, a selection of distribution parameters.
18. The method of claim 17 , wherein the distribution method is one of an equal distribution method, a specified distribution method, and a qualitative distribution method.