EP1244981A4 - Procede pour la realisation du traitement de la comptabilite, les operations bancaires et la paie a partir d'une source - Google Patents

Procede pour la realisation du traitement de la comptabilite, les operations bancaires et la paie a partir d'une source

Info

Publication number
EP1244981A4
EP1244981A4 EP00966984A EP00966984A EP1244981A4 EP 1244981 A4 EP1244981 A4 EP 1244981A4 EP 00966984 A EP00966984 A EP 00966984A EP 00966984 A EP00966984 A EP 00966984A EP 1244981 A4 EP1244981 A4 EP 1244981A4
Authority
EP
European Patent Office
Prior art keywords
services
banking
software
payroll
present
Prior art date
Legal status (The legal status is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the status listed.)
Withdrawn
Application number
EP00966984A
Other languages
German (de)
English (en)
Other versions
EP1244981A1 (fr
Inventor
R Jeffrey Pugh
Current Assignee (The listed assignees may be inaccurate. Google has not performed a legal analysis and makes no representation or warranty as to the accuracy of the list.)
Individual
Original Assignee
Individual
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Individual filed Critical Individual
Publication of EP1244981A1 publication Critical patent/EP1244981A1/fr
Publication of EP1244981A4 publication Critical patent/EP1244981A4/fr
Withdrawn legal-status Critical Current

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance

Definitions

  • the present invention relates generally to the field of providing integrated solutions to businesses for their accounting, banking, payroll, procurement and employee benefits needs, and relates more specifically to a computer network enabled solution allowing users to obtain accounting, banking, payroll, procurement and/or employee benefits services from a single source.
  • ERP Enterprise Resource Planning
  • HR Outsourced payroll and Human Resources
  • Banking services which include regular banking and electronic banking. Generally all of the software and processing is handled at the bank's location. Electronic banking is merely Internet access (or via data communications method) to the software/processing at the bank. Most major banks plus newer Internet banks (such as Net Bank and Security First National Bank) offer Internet access to a customer's accounts.
  • Computer program interfaces must be written to pass data back and forth between the three or more applications. Sometimes these interfaces cannot be written on a cost effective basis.
  • the new method of the present invention integrates all three major application groups (ERP, Banking, and HR/Payroll outsourcing) using integrated computer code and are offered to and used by the customers as one package. All three major application groups, as well as additional application groups as the needs arise, have a similar look and feel and require no interface between the application group packages.
  • Automated routines handle processes such as: 1. Automatically reconciling checks when written and cleared by the bank.
  • the benefits of the present invention include: 1. All three major application groups, as well as other application groups, are available from one vendor and with similar look and feel.
  • FIG. 1 illustrates the prior art current method of delivery of ERP, Banking and Outsourced Payroll/HR business applications.
  • FIG. 2 illustrates the method of the present invention.
  • the method of the present invention integrates at least the three major business application groups, namely Enterprise Resource Planning (ERP), Banking, and Human Resources/Payroll (HR/P) using the same computer code.
  • ERP Enterprise Resource Planning
  • HR/P Human Resources/Payroll
  • the combined system may be offered to and used by the customers as one package. All three of these major application groups, as well as additional application groups as the need or desire arises by the customer, have a similar look and feel and require no interface between the application group packages.
  • the invention comprises automated routines that handle processes including but not limited to automatic reconciliation of checks when written and cleared by the bank and automatic posting and reconciliation to financial books of payroll disbursements to the bank account. Further, the invention eliminates the need for most paper-based expense reports by automatically creating computer-based expense reports after bank credit card and other charges make their way from the vendor to the bank and then back to the accounting records.
  • the benefits of the present invention include providing all three major application groups, as well as other application groups, from one vendor and with similar look and feel, providing all three major application groups, as well as other application groups, over a computer network, such as the Internet, always providing the latest version of ERP and other software, as the integrated software of the invention is resident at the vendor, and eliminating most paper-based transactions, such as paychecks and pay remittance advices, as customers use an Internet browser to view the activity in their bank accounts.
  • the present invention is an Internet Web portal that enables businesses and individuals, particularly small to mid-sized businesses, to handle all of their banking, accounting and payroll needs over the Internet. In addition, individuals can use the present invention to do their personal banking in much the same fashion as other Internet banks. The present invention also will allow small to mid-size banks to easily and quickly implement Internet banking. Further, the present invention is a Web portal that allows small to mid-size businesses (typically defined as in the $5- 500 million revenue range) to do everything they need to run their enterprise - from paying bills and invoicing customers, to banking, to paying their employees, to financial reporting, and more.
  • the total market for these types of services exceeds $60 billion today and is expected to grow over 25% for the next few years.
  • the market for the financial software (ERP) space is over $15 billion - $ 5 billion in mid-market.
  • the market for small business banking is $40 billion today and is expected to grow 40% to $61 billion by 2003.
  • the commercial payroll service bureau market is over $6 billion.
  • the market leader, ADP has 153 consecutive quarters (over 38 years since becoming public in 1961) of record highs in revenue and earnings per share growth.
  • ADP has enjoyed 13% EPS growth in the last 5 years and consensus estimates are 14.4% for the next 5 years.
  • the present invention for business customers includes a set of integrated Web-hosted business services as follows: a. Financials - pay bills, invoice customers, general ledger, reporting, etc.; b. Commercial banking; c. Payroll processing; and d. E-commerce.
  • Businesses will be able to use the present invention in any of three offerings: a. Integrated Financials, Payroll and Banking (includes a free bank account for the company and for each of their employees); or b. Payroll services; or c. Banking
  • the present invention can be offered to business customers entirely on a pay-as-you-grow, monthly basis - with or without any up-front license fees.
  • Existing competitors will have a difficult time changing their existing business/channel models to compete with this approach.
  • the financial (or ERP) software will be different from that offered by ASP's today because the customer does not buy a certain release of someone else's software.
  • the customers of the present invention will always be using the latest version/release of the present invention's software.
  • the present invention provides a portal to the Web for use by entire companies and their employees. This portal is the entryway for all other dot com partner companies to gain access to the present invention. This entryway provides the staying power (or a compelling reason to return to the website) that most dot com companies do not enjoy today.
  • All types of companies and individuals can use the present invention, preferably first by small to mid-sized businesses, then to the home, then to the largest enterprises.
  • the focus of core services offered at the outset is the services that provide the most staying power for the Web portal, namely financials, banking, and payroll. Additionally, sales force automation, field service, supply chain planning, and other services can be added via integrating and/or linking third party offerings.
  • the present invention may also serve as a typical Internet bank for individuals.
  • the present invention allows people to do their banking and bill paying online.
  • One differentiator between the present invention and the current art is that the individual users typically are employees of business customer users of the present invention.
  • the biggest issue most Internet banks have today is churn in that approximately 30% of Internet bank customers are lost each year.
  • Employees of the business customers of the present invention now have a strong incentive to remain users of the present invention at least as long as they are employees of that company.
  • a June 1999 report from IDC says that 6.6 million US households were banking online in 1998 with that number expected to rise to 21 million by 2001 (per Forrester Research) and 32 million by 2003.
  • the present invention provides the ability for banks to quickly offer Internet banking services to their customers.
  • Banks use the present invention's web-based Internet capabilities to allow the bank's customers log onto a special site to perform banking services.
  • One method of achieving of the present invention is to combine three existing businesses. These businesses are from three industries - mid-market ERP software, bank software, and a bank charter.
  • the two software companies (the ERP and the bank software) could either be rolled-up as an entire business or via contribution of a combination of select assets (source code for one of their platforms), technical and sales people.
  • the payroll service bureau business could also be combined or could be included via a strategic marketing/ integration arrangement.
  • ERP The ERP industry is $15 billion today.
  • the top 5 players SAP, Oracle,
  • PeopleSoft, Baan, JD Edwards comprise 66% of the market and grew 43% in 1998 with expected growth of 15-30% in 1999 (temporary decline because of Y2K fears). Over 50 vendors represent the balance of the market.
  • the ERP industry has transformed itself over the past decade from being simply back office financial or manufacturing software to now include all software that an enterprise needs to run its business - from sales, to marketing, to call centers, to accounting, and beyond.
  • the ERP industry was once a very fragmented set of industries comprised of sets of companies selling software that satisfied only the need for financials, manufacturing, call centers, or sales forces.
  • SAP came along in the early 1990s and reshaped the scene by including all these elements in their offering.
  • ASP Application Service Provider
  • the high-end players typically started out selling primarily financial software (for example, PeopleSoft sold human resources) to the Global 1000. They typically started with mainframe and/or Unix platforms and added NT products. Software license fees range from $200,000 to $100 million or so, based on the number of users.
  • Low-end players typically have an NT product that they sell through independent resellers or retailers to companies with under $25 million in sales. License fees are typically $ 5,000 to $25,000, based on the number of modules. 2. Banking There are 2 types of Internet banks - Internet-only banks, and banks with branches that also provide Internet access to account balances.
  • Internet-only banks are banks without branches or ATMs that focus on the Web (and telephone) to attract and service customers. Examples are Net.B@nk, Security First National Bank, Wingspan.com (FCC National Bank, subsidiary of Bank One and uses Bank One's ATMs), CompuBank, MembershipBanking (American Express), eBank.com, and nBank.com.
  • Internet-only banks have advantages over brick and mortar banks.
  • First, Internet-only banks have a reduced cost structure. Booz, Allen, & Hamilton found that costs per transaction via the Internet are significantly lower than those via different touchpoints as follows:
  • Internet banks have a significant cost advantage over regular banks - a savings of almost 3% of assets.
  • D.R. Grimes, CEO of Net@Bank says their non- interest expenses are 1.6% of earning assets, compared with an average of 4.4% at a similar sized traditional bank.
  • Internet-only banks have better deals for the customer. All of the cost savings translate to better deals for the customer. Because of lower overhead costs, Internet-only banks can offer 6% CD rates to attract customers.
  • Internet-only banks provide better customer service.
  • Internet-only banks excel at providing customers with the best platforms for executing transactions online. They make it easy to open an account - customers can sign on from any browser and complete the entire account application online.
  • Internet-only banks provide quicker geographic expansion. Since Internet-only banks do not need to build branches to expand, they can reach a global market instantly.
  • Internet-only banks do have some disadvantages. First, they have no branches. Second, they have no cash deposits (deposits must generally be mailed so cash deposits would be impractical).
  • Payroll service bureaus process payroll checks and automatic payroll deposits in addition to filing payroll tax returns for businesses. Customers typically send in their payroll data via fax, entry into PC software/transmission, or via entry over the Internet.
  • the payroll service bureau market is over $ 6 billion.
  • the market leader, ADP has 153 consecutive quarters (over 38 years since becoming public in 1961) of record highs in revenues and earnings per share growth.
  • ADP has enjoyed 13% EPS growth in its last 5 years and consensus estimates of 14.4% over the next 5 years.
  • a key differentiator for the present invention is that, from the customer's perspective, the present invention is not a software company, it is a service company. Competitors in the bank software and ERP software industries are selling a given release to their customers. Examples of this in the retail area are Windows 95/98/2000, Office 97/2000, etc. When you buy software you are buying only that version of the software. You are essentially guaranteed to have an obsolete product in the next 1-2 years. You must upgrade to some future release at considerable pain and aggravation. The same holds true for ERP and bank software companies. By the time you buy and install Oracle R11 , 2 years have passed and Oracle R12 or some later version is available. Generally, ERP and bank software customers do not have the luxury of having access to these incremental releases because upgrades are painful and expensive. These customers typically wait for 2-4 releases before they upgrade.
  • the present invention upgrades happen in almost real time and incrementally. When a noticeable upgrade happens to a screen or process, the user will be notified via a button that appears on their screen. Another key element is that upgrades and improvements to the software must be managed to minimize the impact on users. Most software companies make wholesale changes to entire modules when they produce a new version. This approach requires costly and time-consuming upgrades and training for users. Small improvements and changes to the underlying the present invention software will be managed and continually released to the present invention community on a frequent basis to change only certain screens or particular business processes.
  • the present invention starts with typical brick and mortar markets, converges them and adopts them.
  • the three major applications (ERP, Banking and Payroll outsourcing) are merged.
  • e-commerce can be included with the three major applications.
  • users are provided with financial services (ERP), banking services, web buying including electronic billing and paying, web sales, and payroll processing along with automatic deposit of payroll.
  • the preferred ERP service includes the core business processes (financials, human resources, ledger, receivables, payables and invoicing), coupled with optional modules such as: sales force automation, field service, customer service and manufacturing and planning.
  • the preferred banking service includes all of the typical banking services (savings and checking accounts, access to loans and mortgages, credit cards and even investment services).
  • the preferred payroll service includes all of the typical payroll services (direct deposit, payroll slips, and federal and state tax reporting).
  • the user can subscribe to the services of the present invention in many ways, including license fees, monthly fees, up-front payments, etcetera.
  • the preferred subscription has no up-front fees, and only monthly fees for the services used by the customer.
  • the customer can select from the group of three major applications, and from a group of miscellaneous additional applications.
  • the customer pays a monthly fee for only those applications selected.
  • the customer can add or delete applications as needed, allowing the service to grow with the customer.
  • customers can have automatic reconciliation of financial books, with the books looking the same as the banks version of the customer's books.
  • the present invention will serve as the customer's main bank, with electronic commerce (payments and debits) being the norm and not the special situation.
  • the integration of the three major applications will allow payroll to be deposited automatically into the employees' accounts (from the present invention's payroll service to the present invention's banking service).
  • the employee can access his or her bank accounts and employee information through the same service, preferably through an integrated web browser as part of the present invention.
  • all community members can be connected to each other, establishing an electronic community that can buy from each other, access each other's services, and operate more efficiently.
  • each customer operates under a standard format, each customer easily can converse with other customers of the present invention. This allows for the present invention to partner with other vendors to provide aggregated buying power for customers, and possibly reduced costs for certain products and services.
  • Additional applications for the present invention include but are not limited to travel services (in which users and employees can plan corporate and personal travel).
  • the employee can access and purchase appropriate transportation tickets and hotel stays.
  • the charges are made to the employees account (such as a bank account, a credit card, or a company account) and are immediately credited or debited from the appropriate account. This eliminates the need for expense accounts and reimbursement requests, as the debits and payments are made through the present invention.
  • Additional applications include automatic SEC filings for the company users, automatic tax reporting and payment for both company users and individual users (including employees). Other additional applications will be apparent to those of ordinary skill in the art.
  • the present invention provides most, if not all, services a company or individual needs from one source. There is little initial cost to get the best and most up to date product available. Monthly charges increase the economic viability of the present invention by eliminating high up front fees and allowing the customer to select and pay for only those applications desired or needed.
  • the present invention can grow with the needs of the customer in this same way.
  • the user can visit the web portal of the present invention to start a new business. Available applications for this type of service include information, including links to the appropriate service providers, about incorporating the business and marketing the products ands services, ordering equipment and furniture, and obtaining accounting, banking and payroll services from one source.

Abstract

L'invention concerne un procédé permettant de réaliser le traitement de la comptabilité, des opérations bancaires et de la paie à partir d'une source, ledit procédé effectuant les étapes de réalisation des services de comptabilité, bancaires, de paie et d'intégration de chacun des services pour fournir un procédé dissimulé, où l'étape d'intégration transfère automatiquement des informations entre et parmi chacun des services, et met à jour en temps réel les informations contenues dans chacun des services comme cela est requis.
EP00966984A 1999-09-27 2000-09-27 Procede pour la realisation du traitement de la comptabilite, les operations bancaires et la paie a partir d'une source Withdrawn EP1244981A4 (fr)

Applications Claiming Priority (3)

Application Number Priority Date Filing Date Title
US15624599P 1999-09-27 1999-09-27
US156245P 1999-09-27
PCT/US2000/026596 WO2001024090A1 (fr) 1999-09-27 2000-09-27 Procede pour la realisation du traitement de la comptabilite, les operations bancaires et la paie a partir d'une source

Publications (2)

Publication Number Publication Date
EP1244981A1 EP1244981A1 (fr) 2002-10-02
EP1244981A4 true EP1244981A4 (fr) 2002-10-02

Family

ID=22558734

Family Applications (1)

Application Number Title Priority Date Filing Date
EP00966984A Withdrawn EP1244981A4 (fr) 1999-09-27 2000-09-27 Procede pour la realisation du traitement de la comptabilite, les operations bancaires et la paie a partir d'une source

Country Status (4)

Country Link
EP (1) EP1244981A4 (fr)
AU (1) AU7725100A (fr)
CA (1) CA2352227A1 (fr)
WO (1) WO2001024090A1 (fr)

Families Citing this family (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6411938B1 (en) * 1999-09-14 2002-06-25 Intuit, Inc. Client-server online payroll processing
JP2002318973A (ja) * 2001-04-23 2002-10-31 Mitsui Sumitomo Insurance Co Ltd 注文データ整理装置、注文整理システム、注文データ整理方法及びプログラム
US9779078B2 (en) 2004-11-05 2017-10-03 Automatic Data Processing, Inc. Payroll processor system and method

Family Cites Families (6)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US4953085A (en) * 1987-04-15 1990-08-28 Proprietary Financial Products, Inc. System for the operation of a financial account
WO1996010235A1 (fr) * 1994-09-28 1996-04-04 Brown Gordon T Systeme comptable informatise
US5715397A (en) * 1994-12-02 1998-02-03 Autoentry Online, Inc. System and method for data transfer and processing having intelligent selection of processing routing and advanced routing features
US5890140A (en) * 1995-02-22 1999-03-30 Citibank, N.A. System for communicating with an electronic delivery system that integrates global financial services
EP1016013A1 (fr) * 1997-03-31 2000-07-05 BellSouth Intellectual Property Corporation Procede et dispositif de generation de facture ventilee entre entites d'une organisation
US5903881A (en) * 1997-06-05 1999-05-11 Intuit, Inc. Personal online banking with integrated online statement and checkbook user interface

Non-Patent Citations (2)

* Cited by examiner, † Cited by third party
Title
No Search *
See also references of WO0124090A1 *

Also Published As

Publication number Publication date
EP1244981A1 (fr) 2002-10-02
AU7725100A (en) 2001-04-30
WO2001024090A1 (fr) 2001-04-05
CA2352227A1 (fr) 2001-04-05

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