Patent ID: 6850643
Filing Date: 2005-02-01
Classification: G06Q

Abstract:
1. A method for monitoring at least one of accounts receivable, accounts payable, inventory, trading partners, chart of accounts, invoices, and payments of a client using a process management and workflow system coupled to a data repository, the process management and workflow system connected to an accounting system by a communications link, said method comprising the steps of: generating a financial report using the accounting system wherein the financial report includes current collateral information for the client, the current collateral information includes information relating to the client's accounts receivable, accounts payable, and inventory; transmitting the financial report from the accounting system to the process management and workflow system; receiving the financial report at the process management and workflow system from the accounting system of the client via an electronic data interchange; converting the financial report from a received document format to a predetermined document format by determining whether preprocessing of the financial report is needed, determining whether segmentation of the financial report is needed wherein segmentation includes identifying a location of data within the financial report and relocating data within the financial report such that the report is recognizable, performing a document recognition process, and performing a mapping and translation process on the financial report; extracting data from the converted financial report; correcting data extraction errors using a quality control system; evaluating current collateral information in the data; and evaluating current credit status of the client based on the current collateral information of the client.