Accenture Corporation

Cheah Wee Leong

William Ng

A system, method and article of manufacture are provided for initiating bidding in a virtual trade financial environment. First, a form is submitted to a plurality of buyers providing details on products or services available from a plurality of sellers. This is to prompt the submission of bids on the products or services. The bids are then received from the buyers utilizing a network. Thereafter, the bids are categorized based on a predetermined criteria. The categorized bids are subsequently sent to the sellers utilizing the network. Offers are then received from the sellers in response to the bids utilizing the network. The offers are displayed to the buyers for closing transactions between the buyers and the sellers.

System, method and article of manufacture for initiation of bidding in a virtual trade financial environment

The disclosure provides for creating a finalized document relating to a transaction. A buyer selects documents associated with a proposed transaction and indicates trade terms of an agreement relating to the documents selected. The trade terms are presented to a seller on an electronic form via an electronic document platform. The electronic form includes a combined purchase order proforma invoice, a transportation document, and a shipping document. The seller can amend the trade terms on the form, and each amendment creates a new version of the form. Negotiations of the trade terms between the buyer and the seller are conducted electronically and the negotiated fonn detailing the negotiation of the trade terms is generated and displayed electronically, also. A compliance check is performed and is triggered in response to a digital signature of the form. Payment is initiated to the seller after a verification of credit of the buyer.

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Puchong, Malaysia

Cheah Wee Leong