System and method for matching an offer with a quote
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Jun 19, 2012
Grant Date -
Aug 26, 2010
app pub date -
Feb 26, 2010
filing date -
Aug 25, 2000
priority date (Note) -
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status (Latency Note)
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Abstract
Described is a system and method that satisfies offers from customers with quotes from suppliers in a way that increases the likelihood of achieving an acceptable match. The system of the present invention is configured to receive from a customer an offer for a product. The system queries in parallel multiple suppliers for rate quotes on the desired product. Each of the suppliers is ranked according to the lowest rate quoted by each supplier. The supplier quoting the lowest rate is selected as the winner of the offer. The system may then evaluate any other rate quotes provided by the winning provider. The system may satisfy the customer's offer with the winning provider at a higher rate (if one was provided) than the winning rate quoted, up to the customer's offer (perhaps adjusted for a reasonable profit). In this way, even though the provider provides low rate quotes to win the offer, the provider may still realize a much higher rate for the goods or services by quoting additional, higher rate quotes as well.
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