E-commerce transaction facilitation system and method

Abstract

A method of operating a computer to facilitate a commercial transaction involving a plurality of negotiable trading parameters. The method includes the following steps resulting from the execution of a computer program: accepting in respect of a first entity ( 3 ) a desired trading profile including at least desired values or ranges of multiple of said trading parameters and information for establishing one or more functional relationships between variations in at least a key trading parameter and other of said trading parameters; establishing one or more mathematical relationships between variations in at least the key trading parameter and the other of said trading parameters; wherein said one or more mathematical relationships can be used to determine a set of trading profiles having substantially equal expected desirability values to said desired trading profile; and determining whether a submitted trading profile from a second entity ( 4 ) has a desirability value that equals or exceeds the desirability value of said desired trading profile using said one or more mathematical relationships.

1 . A method of operating a computer to facilitate a commercial transaction involving a plurality of negotiable trading parameters, including the following steps resulting from the execution of a computer program; 
 accepting in respect of a first entity a desired trading profile including at least desired values or ranges of multiple of said trading parameters and information for establishing one or more functional relationships between variations in at least a key trading parameter and other of said trading parameters;    establishing one or more mathematical relationships between variations in at least the key trading parameter and the other of said trading parameters; wherein said one or more mathematical relationships can be used to determine a set of trading profiles having substantially equal expected desirability values to said desired trading profile; and    determining whether a submitted trading profile from a second entity has a desirability value that equals or exceeds the desirability value of said desired trading profile using said one or more mathematical relationships.    
   
   
       2 . A method according to  claim 1 , wherein said first entity is a seller and said trading profile relates to the trading parameters desired by a seller.  
   
   
       3 . A method according to  claim 1 , wherein said trading parameters include one or more of: price, volume, payment terms, credit terms, credit rates of interest, transport charges, logistics charges, insurance charges, inspection charges, finance charges, country adjustments and credit risk adjustments.  
   
   
       4 . A method according to  claim 1 , wherein said key trading parameter is price.  
   
   
       5 . A method according to  claim 1 , wherein the second entity is a buyer.  
   
   
       6 . A method according to  claim 1 , wherein when a desirability value of a trading profile of the second entity equals or exceeds said desirability value of said desired trading profile, a commercial transaction is initiated between said first and second entities based on a transaction trading profile.  
   
   
       7 . A method according to  claim 6 , wherein said submitted trading profile does not have a desirability value that equals or exceeds the desirability value of said desired trading profile, said method further including the steps of: 
 accepting information from the second entity for establishing one or more functional relationships between variations in at least a key trading parameter and other of said trading parameters for the second entity; and    establishing one or more mathematical relationships between variations in at least the key trading parameter and the other of said trading parameters for the second entity; wherein said one or more mathematical relationships can be used to determine a set of trading profiles having substantially equal expected desirability values to said submitted trading profile of said second entity; and    determining a transaction trading profile using said mathematical relationships between variations in at least the key trading parameter and the other of said trading parameters for the second entity, which has a desirability value that equals or exceeds the desirability value of said desired trading profile.    
   
   
       8 . A method according to  claim 7 , wherein said transaction trading profile is a trading profile which is closest on a minimum squared distance measure or equivalent measure from said submitted trading profile.  
   
   
       9 . A method according to  claim 1 , wherein when said submitted trading profile or a trading profile having a substantially equivalent desirability value to said second entity, has a desirability value to said first entity that is less than the desirability value of said desired trading profile, actions are taken to establish at least one of a new submitted trading profile and a new desired profile.  
   
   
       10 . A method according to  claim 9 , further including the step of suggesting one or more changes in at least one of said submitted and desired trading profiles.  
   
   
       11 . A method according to  claim 10 , wherein suggested changes to said submitted trading profile are suggested to said second entity and suggested changes to said desired trading profile are suggested to said first entity.  
   
   
       12 . A method according to  claim 11 , wherein said suggested changes represent a compromise between at least one trading parameter of said submitted trading profile and at least one trading parameter of said desired trading profile.  
   
   
       13 . A method according to  claim 12 , wherein said suggested changes are determined using a minimum squared distance measure or equivalent measure.  
   
   
       14 . A method according to  claim 9 , wherein at least one of said first and second entities modifies a value or range of at least one said trading parameter of that entity's respective submitted trading profile or desired trading profile, and, after modifying said at least one trading profile, further comprising the step of determining whether the desirability value of said submitted trading profile equals or exceeds the desirability value of said desired trading profile using said one or more mathematical relationships.  
   
   
       15 . A method according to  claim 1 , wherein the information for establishing one or more functional relationships between variations in at least a key trading parameter and other of said trading parameters includes at least one additional desired trading profile having an equal or substantially equal desirability value to the first desired trading profile.  
   
   
       16 . A method according to  claim 15 , wherein in each of the equal or substantially equal desired trading profiles, the trading parameter of price is different in each profile.  
   
   
       17 . A method according to  claim 15 , wherein in each of the equal or substantially equal desired trading profiles, changes in price are indexed against each of the other trading parameters.  
   
   
       18 . A method according to  claim 15 , wherein in each of the equal or substantially equal desired trading profiles, the sensitivity of the trading parameter of price is quantified against each of the other trading parameters.  
   
   
       19 . A method according to  claim 15 , wherein the sensitivity of price against groups of at least two of the other trading parameters is independently quantified.  
   
   
       20 . A method according to  claim 1 , further including the step of identifying the prospective buyer and the prospective seller by a search based on a product and/or service classification code.  
   
   
       21 . A method according to  claim 20 , including the steps of providing a product and/or service classification code; 
 providing a database of records relating to respective business entities, said records including information, indexed according to said classification code, recording at least one product or service provided by, or required by, said entity and at least one desired trading profile in relation to said at least one product or service; and    performing, in response to supplied search information including at least one classification code, and at least one submitted trading profile, a search of said database for entities having a desired trading profile at least compatible with said submitted trading profile.    
   
   
       22 . A method according to  claim 21 , wherein the classification code is organized in an hierarchical manner, so that search information of variable specificity or granularity can be provided.  
   
   
       23 . A method according to  claim 21 , wherein said 
 classification code is, or is based on or derived from, an internationally recognized product and/or service classification code.    
   
   
       24 . A method according to  claim 23 , wherein the classification code is the Harmonized Tariff Code.  
   
   
       25 . A method according to  claim 20 , wherein the search information includes supplementary information specific to business organizations selected from geographic regions, desired trading terms, and credit profiles.  
   
   
       26 . A method according to  claim 20 , and further including: 
 ranking the results of the search using one or more predetermined ranking criteria.    
   
   
       27 . An e-commerce transaction facilitation system, including: 
 a sales module;    a first enterprise resource planning system of a selling entity;    a procurement module;    a second enterprise resource planning system of a purchasing entity, and    wherein said sales and procurement modules reside in a computer system of a single entity, at least one of an operative connection between said sales module and said first enterprise planning system and an operative connection between said procurement module and said second enterprise planning system can be made via a web browser, and said modules can be utilized by at least one entity via a web browser, and wherein the computer system includes processing means, a first associated memory for storing a set of trading parameters and a second associated memory for storing a series of instructions to cause the sales module to:    accept in respect of a first entity a desired trading profile including at least desired values or ranges of multiple of said trading parameters and information for establishing one or more functional relationships between variations in at least a key trading parameter and other of said trading parameters; and    establish one or more mathematical relationships between variations in at least the key trading parameter and the other of said trading parameters; wherein said one or more mathematical relationships can be used to determine a set of trading profiles having substantially equal expected desirability values to said desired trading profile; and    determine whether a submitted trading profile from a second entity has a desirability value that equals or exceeds the desirability value of said desired trading profile using said one or more mathematical relationships.    
   
   
       28 . A system according to  claim 27 , further including a search/directory module.  
   
   
       29 . A system according to  claim 27 , wherein said sales module includes means for maintaining confidential at least some information accepted from said first entity.  
   
   
       30 . A system according to  claim 27 , wherein said procurement module includes means for maintaining confidential at least some information accepted from a second entity.  
   
   
       31 . A system according to  claim 27 , wherein said sales module includes means for determining a desirability value of at least one additional desired trading profile from a plurality of desired trading profiles accepted from said first entity.  
   
   
       32 . A system according to  claim 27 , wherein said procurement module includes means for determining a desirability of at least one additional submitted trading profile from a plurality of submitted trading profiles accepted from said second entity.  
   
   
       33 . A system according to  claim 27 , further including means for conducting an auction.  
   
   
       34 . A system according to  claim 27 , including means for indicating the submitted profile with the highest desirability value.