Automatically generating invoices from contracts in a procurement system

Abstract

An improved procurement system and method are provided. The improved procurement system comprises: a memory having stored therein an account of a first entity, the account associated with a first computer and comprising contract data associated with a first entity and a contract terms included in a contract between the first entity and a second entity, wherein the second entity is not associated with the account; one or more processors; a non-transitory machine-readable medium having instructions stored thereon, the instructions executable by the one or more processors to perform: generating a Contract Order Document from the contract data associated with the first computer, the Contract Order Document being an electronic document comprising a portion of the contract data and a selectable user interface element that, when selected by a second computer associated with the second entity, generates an instruction to generate a first document; sending, via a network, the Contract Order Document to the second computer; receiving, in response to the Contract Order Document, the instruction from the second computer to generate the first document; obtaining, in response to the instruction and from the account of the first computer, at least a portion of the contract terms included in the contract between the first entity and the second entity; generating the first document using the at least the portion of the contract terms obtained from the account of the first computer; sending, via a network, the first document to the second computer.