Duplicate payment monitoring system.
Original Publication Date: 2005-Sep-27
Included in the Prior Art Database: 2005-Sep-27
A payment monitoring system for large corporations that permits companies to monitor payments to vendors to detect duplicates and errors in real-time. If a duplicate or payment error is detected, the system will communicate directly with the payment systems to place the transactions on hold for further investigation.
Duplicate payment monitoring system .
Large corporations with worldwide multiple business units and operational sites frequently must make complex and frequent payments to large numbers of vendors, who may also have multiple global sites or accounts that receive payments. These payments may include errors or be duplicate payments. Errors of this nature can be difficult to identify and are time-consuming and labor-intensive to rectify.
A duplicate and error payment monitoring system analyzes data from digital payment systems and from data sent to check printing systems and use a rule-base in real-time to determine whether a payment was a duplicate or should otherwise be investigated. The system includes a real-time capability to monitor real-time transaction streams, to cross-reference those with payments already made, to interface with purchase order systems, and where possible, invoice line-item details. Where a discrepancy is found, the system sends an exception message either directly to the digital payment system or to a check printing system or creates a notification for human intervention.
This system is comprised of a real-time database engine with analytical capabilities, for example the IBM Websphere® Data Stream Edition for Information Integration or the Informix Realtime Loader.
The system should include data feed handlers or adapters to read the real-time digital payment feeds and connect to check printing systems. The incoming stream of payment data...