Automated Transaction Document Grouping via Anchor Identification Codes
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Solution Overview
Problem
Current business transaction processing systems face challenges in document identification, categorization, and management, leading to inefficiencies such as manual parsing errors, billing discrepancies, and delayed payments due to incompatible reference numbers and lack of real-time data access among transaction parties.
Innovation Solution
An automated system that parses transaction-based documents using attribute fields to generate an anchor identification code, allowing documents with matching attributes to be grouped and processed together, enabling automatic payment initiation and real-time transaction monitoring.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual parsing and categorization of transaction documents is performed, then documents can be organized into categories, but the process becomes expensive, time-consuming and susceptible to error
Solution Approach 1:
The system enables documents to self-categorize by automatically extracting reference numbers and transaction identifiers from document content, then self-grouping into appropriate transaction categories without human intervention. The computer-implemented method performs automatic document parsing, extracts key attributes, and assigns documents to transaction groups based on matching reference numbers, eliminating manual categorization while maintaining high accuracy.
Solution Approach 2:
The patent replaces the mechanical manual parsing process with an automated computer-based system that uses optical character recognition (OCR), natural language processing, and pattern matching algorithms. The system automatically extracts reference numbers, invoices, and other transaction data from documents in various formats, substituting human cognitive effort with computational processes that are faster and more reliable.
2Adaptability or versatility
If documents from multiple parties arrive in varied temporal order, then all transaction perspectives can be captured, but document management and correlation become increasingly challenging
Solution Approach 1:
The system employs a universal transaction identifier that serves multiple functions: it uniquely identifies the transaction across all parties, links documents from different sources (orders, invoices, shipping documents), and enables correlation regardless of arrival order. The computer-implemented method uses this universal identifier to group documents into transaction categories, allowing the system to handle documents arriving in any temporal sequence while maintaining proper association.
Solution Approach 2:
The patent introduces a central processing system that acts as an intermediary between multiple transaction parties. This intermediary receives documents from buyers, sellers, shippers, and other parties, uses attribute-based grouping to correlate them with the correct transaction, and manages the documents until all required elements are present for processing. The intermediary reconciles documents arriving in varied temporal orders by holding and matching them against the universal transaction identifier.
3Adaptability or versatility
If reference numbers used by different parties are not compatible, then each party can maintain its own transaction organization, but accessing and correlating transaction data becomes difficult
Solution Approach 1:
The system creates a universal transaction identifier that functions as a common reference point for all parties involved in a transaction. While each party may generate their own reference numbers (order numbers, invoice numbers), the system extracts these and creates a unified identifier that links all party-specific references to a single transaction. This universal identifier enables easy access and correlation of transaction data across different parties without requiring them to adopt a single reference system.
Solution Approach 2:
The central processing system acts as an intermediary that translates between different party-specific reference numbers and a universal transaction identifier. When a party queries transaction data, the system uses the universal identifier to retrieve and present the relevant information, regardless of which party's reference number is used for access. This intermediary layer maintains the ease of operation for each party while enabling seamless data correlation.
4Extent of automation
If intensive user intervention is used for automatic processing, then processing can be automated, but the system requires significant human involvement
Solution Approach 1:
The system is designed to process transactions with minimal user intervention by automatically performing document intake, parsing, extraction of reference numbers, attribute-based grouping, and transaction category assignment. The computer-implemented method continuously monitors for incoming documents, automatically processes them through the correlation engine, and updates transaction statuses without requiring users to manually intervene at each step. Users only need to initiate processing and review final results.
Data Source
AI summary
Transaction processing is facilitated using an approach for automatically grouping transaction-based documents as a function of matching data in the documents. In one example embodiment of the present invention, data from selected attribute fields in transaction-based documents is parsed as the documents are received at a transaction processor. When data in selected attribute fields from two or more documents match, the transaction processor automatically groups the documents having matching data under a particular anchor identification code defined as a function of the match. Upon receipt of one or more other transaction-based documents, the transaction processor advances progress towards completion of the common transaction to which the documents apply. With this approach, predefined data (e.g., a purchase order number) need not necessarily be included with a particular transaction document in order to group the document with another document belonging to the same common transaction.