Consolidated Order Management System for Financial Institutions
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Large organizations, such as financial institutions, face complexity in managing various products and services across different channels due to disparate computer systems, making it difficult to efficiently and uniformly provide services to customers.
Innovation Solution
A consolidated order management system that maintains a centralized database for order information, rules, and historical data, allowing for unified management across channels, with features like consolidated order interfaces, validation rules, routing rules, inquiry tools, and servicing tools to streamline operations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a large organization owns and operates many disparate computer systems to support various products and services across different channels, then the organization can provide diverse products and services to customers, but it becomes difficult to efficiently, effectively, and uniformly manage how products and services are provided across different channels
Solution Approach 1:
The patent consolidates multiple disparate order management systems into a single unified order management system that can handle multiple products, services, and channels through a common interface and database structure, thereby reducing management complexity while maintaining versatility
Solution Approach 2:
The unified order management system is designed to perform multiple functions across different channels (retail, online, mobile, etc.) and for various product types through a single system architecture, eliminating the need for separate systems while maintaining adaptability
2Manufacturing precision
If multiple separate systems are used to manage different products and channels, then each system can be optimized for its specific function, but changes affecting multiple products require multiple changes across different systems
Solution Approach 1:
The unified system maintains specialized functionality for different products and channels through modular design while using a common core engine, allowing changes to be made in one location and automatically propagated across all product lines and channels
3Adaptability or versatility
If disparate computer systems are used to support various products and services, then the organization can cater to different customer needs across channels, but uniform management and consistent customer experience become difficult to achieve
Solution Approach 1:
The patent implements a standardized interface and data structure across all channels and products within the unified system, ensuring consistent customer experience and uniform management practices while still accommodating diverse product types and customer needs through configuration rather than structural variation
Data Source
AI summary
Methods, systems, and computer-readable media for providing consolidated order management are presented. In some embodiments, a computer system may receive, via a communication interface, and from a first organization user computing device, a first request for a first order user interface. Based on receiving the first request for the first order user interface from the first organization user computing device, the computer system may load first interface information from a consolidated order management database. Subsequently, the computer system may generate a first order interface based on the first interface information loaded from the consolidated order management database. Then, the computer system may send, via the communication interface, and to the first organization user computing device, the first order interface generated based on the first interface information loaded from the consolidated order management database.