US Patent:
20130191266, Jul 25, 2013
Inventors:
Kshitij Dayal - San Joe CA, US
Yuan Tung - Fremont CA, US
Satyajit Choudhury - Bangalore, IN
Raja Polisetti - Bangalore, IN
Tanvi Bakul Shah - San Jose CA, US
Ramakrishna Vadla - Banglore, IN
Jegnaw Ayele - San Jose CA, US
Andrew Hofler - Cranberry Township PA, US
Assignee:
Ariba, Inc. - Sunnyvale CA
International Classification:
G06Q 40/04
Abstract:
Embodiments for facilitating an electronic auction of prepayment of an invoice are disclosed. One embodiment includes a server for facilitating an electronic auction of prepayment of an invoice. For this embodiment, the server is operative to inform a supplier whether the invoice is available for meeting a defined cash need of the supplier after the invoice has been approved by the supplier and a buyer with definite terms, receive a prepayment offer from the buyer, and provide the prepayment offer to the supplier, provide the supplier with information to aid the supplier in determining whether to take the prepayment offer from the buyer, or submit the invoice with proposed prepayment terms to an exchange platform, electronically provide the invoice to the exchange platform server with proposed prepayment terms if the supplier decides to submit the invoice, wherein the exchange platform server facilitates an electronic auction of the invoice with proposed prepayment terms to a plurality of bidders and receive a bid from at least one of the plurality of bidders, and electronically facilitate payment of the invoice between the winning bidder and the supplier if a winning bid is received.