Shreyas Gupta from Snoqualmie, WA

Methods For Electronic Multiparty Accounts Receivable And Accounts Payable Systems

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US Patent:

7536354, May 19, 2009

Filed:

Jun 4, 2002

Appl. No.:

10/160689

Inventors:

Bernard deGroeve - New York NY, US
Jan Petroons - Alsemburg, BE
Christopher C. Hanan - New York NY, US
A. Graham Bailey - Greenwich CT, US
Shreyas D. Gupta - New York NY, US
Kevin Lawrence Mellyn - Bronxville NY, US
Matthew Saal - Englewood NY, US
Morio Alexander - New York NY, US
Craig Mondschein - Merrick NY, US

Assignee:

JPMorgan Chase Bank, N.A. - New York NY

International Classification:

G06F 17/00

US Classification:

705 54, 705 1, 705 34, 705 39, 705 40

Abstract:

The invention concerns methods for use in a multiparty accounts receivable and accounts payable system that allow business trading partners to use a single, shared system for both accounts receivable and accounts payable management. A system implementing the methods of the invention forms an electronic “bridge” between a plurality of business trading partners for purposes of invoicing, dispute resolution, financing, and settlement of single and multiple currency debts. As the invoicing and settlement activities of the participants in the methods of the invention are funneled through a common system, the methods allows a participant to aggregate all debts owed to other participants, aggregate all debts owed by the other participants, and net debts owed to other participants with debts owed by these participants. After aggregation and netting steps, the methods of the present invention allow a participant to issue a single payment to settle numerous accounts payable items, and to receive a single payment that settles numerous accounts receivable items. The methods allow participants to use the substantial amount of financial and cash flow information captured by a system implementing the methods of the invention to borrow more efficiently by permitting lenders to view this information.

Electronic Multiparty Accounts Receivable And Accounts Payable System

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US Patent:

20070061260, Mar 15, 2007

Filed:

Nov 6, 2006

Appl. No.:

11/556912

Inventors:

Bernard deGroeve - New York NY, US
Jan Petroons - Alsemburg, BE
Christopher Hanan - New York NY, US
A. Bailey - Greenwich CT, US
Shreyas Gupta - New York NY, US
Kevin Mellyn - Bronxville NY, US
Matthew Saal - Englewood NJ, US
Morio Alexander - New York NY, US
Craig Mondschein - Merrick NY, US

Assignee:

JPMORGAN CHASE BANK, N.A. - NEW YORK NY

International Classification:

G06Q 40/00

US Classification:

705044000

Abstract:

The invention concerns a multiparty accounts receivable and accounts payable system that allows business trading partners to use a single, shared system for both accounts receivable and accounts payable management. The system of the invention forms an electronic “bridge” between a plurality of business trading partners for purposes of invoicing, dispute resolution, financing, and settlement of single and multiple currency debts. As the invoicing and settlement activities of the participants are funneled through a common system, the system allows a participant to aggregate all debts owed to other participants, aggregate all debts owed by the other participants, and net debts owed to other participants with debts owed by these participants. After aggregation and netting, the participant issues a single payment to settle numerous accounts payable items, and receives a single payment that settles numerous accounts receivable items. The system allows participants to use the substantial amount of financial and cash flow information captured by the system to borrow more efficiently by permitting lenders to view this information. Furthermore, the system provides a confirmation process to convert existing debt obligations into a new, independent payment obligation due on a date certain and free of any defenses to the underlying contract. The confirmed debt obligations provide a better source of working capital for the participants, or can be converted into electronic promissory notes. The system provides an electronic exchange for electronic promissory notes, allowing participants to raise working capital in various ways, for example, by selling them.

Electronic Multiparty Accounts Receivable And Accounts Payable System

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US Patent:

7206768, Apr 17, 2007

Filed:

Aug 14, 2000

Appl. No.:

09/638560

Inventors:

Bernard deGroeve - New York NY, US
Jan Petroons - Alsemburg, BE
Christopher C. Hanan - New York NY, US
A. Graham Bailey - Greenwich CT, US
Shreyas D. Gupta - New York NY, US
Kevin Lawrence Mellyn - New York NY, US
Matthew Saal - Englewood NJ, US
Morio Alexander - New York NY, US
Craig Mondschein - New York NY, US

Assignee:

JPMorgan Chase Bank, N.A. - New York NY

International Classification:

G06Q 99/00

US Classification:

705 54, 705 30, 705 34, 705 39, 705 40

Abstract:

The invention concerns a multiparty accounts receivable and accounts payable system that allows business trading partners to use a single, shared system for both accounts receivable and accounts payable management. The system of the invention forms an electronic “bridge” between a plurality of business trading partners for purposes of invoicing, dispute resolution, financing, and settlement of single and multiple currency debts. As the invoicing and settlement activities of the participants are funneled through a common system, the system allows a participant to aggregate all debts owed to other participants, aggregate all debts owed by the other participants, and net debts owed to other participants with debts owed by these participants. After aggregation and netting, the participant issues a single payment to settle numerous accounts payable items, and receives a single payment that settles numerous accounts receivable items. The system allows participants to use the substantial amount of financial and cash flow information captured by the system to borrow more efficiently by permitting lenders to view this information.