WO2001008067A1

WO2001008067A1 - Network-based transaction system and method

Info

Publication number: WO2001008067A1
Application number: PCT/US2000/019940
Authority: WO
Inventors: George H. Pickering, Jr.
Original assignee: Netgenshopper.Com, Inc.
Priority date: 1999-07-21
Filing date: 2000-07-21
Publication date: 2001-02-01
Also published as: AU6116700A

Abstract

A lead generation engine connects buyers and vendors (1, 7a, 8a) of goods and services, and has the ability to make product recommendation and/or price quotation based on a set of domain specific variables used by industry experts to make similar decisions. The system empowers buyers (1, 7a, 8a), by providing them with as much on-line information as possible as it relates to a pending transaction, and allows vendors (1, 7a, 8a) to effectively market their goods and services to leads who are in the market for the goods or services. The invention contains multiple algorithms that allow it to filter a comprehensive list of vendors (1, 7a, 8a) based on spatial or business criteria, as well as logic that allows the invention to quote or make buying recommendations based on criteria that outline the profile of buyer (1, 7a, 8a) that a specific product or price relates to.

Description

NETWORK-BASED TRANSACTION SYSTEM AND METHOD

BACKGROUND OF THE INVENTION

1. Field of the Invention

This invention relates generally to a computer system that connects buyers to vendors, and more specifically to a computer system and method for determining which vendors best match a buyer's needs, and presenting appropriate vendors to the buyer.

2. Background of the Related Art

Buyers seeking to purchase goods and services spend considerable time locating and researching vendors in their geographical area that offer the product or services they desire. Buyers often look to information sources, such as company directories, personal references, and local media to compile a listing of possible vendors. For example, a buyer might research the Yellow Pages to find a list of vendors. The buyer must then contact each vendor separately, repeating the circumstances of the buyer's situation with each vendor to get relevant information, such as price, availability, etc., regarding the goods and services. This process is inefficient, costly, time-consuming. Further, it leaves open the possibility that the buyer will overlook a vendor, or provide and/or receive incomplete information regarding the goods or services. Research has shown that most buyers in this model contact an average of two vendors before making a final purchase decision.

The first generation of e-commerce solutions focused on providing an on-line catalogue of tangible products that can be sold off the shelf, usually without customization. The buyer typically selects products from a catalogue to be purchased when the checkout process occurs. The problems of this model include the lack of human interaction in the purchase process and the inability of the buyer to obtain help in selecting to select a product that bests suits his needs. Additionally, the buyer typically needs to research each vendor individually.

Recently, Internet portal sites have provided price comparison engines that can survey multiple on-line catalogues and present the buyer with a listing of existing vendors for a specific product, including the price of the product, as well as links to the vendor's web page, which can provide a detailed description about the desired product. The buyer can then add multiple products from differing vendors to a single "shopping cart." This allows the buyer to have a single checkout process that directs payment in the background to multiple vendors. Although this model provides ease of use for buyers looking to purchase at the best price, it still focuses on selling a tangible product with a predetermined price that the user can select from a listing of available inventory.

Another computerized quotation system is described in U.S. Patent No. 5,842,178, which is incorporated herein by reference. Another limitation of existing price comparison engines is that they use limited information, such as price information, as a buyer's purchasing criteria. This could limit the ability of the related art price comparison engines to make an accurate selection of eligible products, since they select comparable products based on a single common attribute such as an SIC Code or a common keyword in the name. Without specific domain knowledge, such engines would be an ineffective decision support tool for the purchase of customized goods and services.

The above references are incorporated by reference herein where appropriate for appropriate teachings of additional or alternative details, features and/or technical background.

SUMMARY OF THE INVENTION

_?_ An object of the invention is to solve at least the above problems and/or disadvantages, and to provide at least the advantages described hereinafter.

Another object of the invention is to provide a system and method for connecting buyers to sellers based on the buyers' needs as well as the vendors' geographic area of operation.

Another object of the invention is to provide a computer system that connects buyers to vendors, including a method for determining which vendors best match a buyer's needs and presenting information to the buyers, including appropriate vendors, a price quotation or estimate for the requested product or service. Such information could be automatically generated and presented to the buyer by the system.

Another object of the invention is to provide buyers with information regarding the sellers, such as previous buyers' ratings and comments, as well as specific product attributes.

By allowing previous buyers to provide ratings and comments about product- specific or vendor-specific attributes, the potential buyer is able to consider other factors in addition to cost, such as quality, time factors, customer service, and vendor's years of experience, among others, in the purchase decision. This leads to a more informed consumer that is able to make a more informed decision on which vendor they will choose to provide the good or service. Another object of this invention is to provide a system and method for the on-line sale of customized items, as defined by the fact that they cannot be selected from a list of existing items that the company offers or has in inventory, from multiple sources. This description is preferable for the purchase of services over the Internet, for example, where the buyer is required to meet with a company representative before completion of the transaction. This characteristic means that economic conditions restrict the sales region where the company offers its services. Therefore, the list of applicable vendors is preferably restricted to companies that are physically located near the buyer's point of interest.

Another object of this invention is to provide a system and method that allows the buyer to select the appropriate permutation of product whose price and/or composition is determined by one or more variables. For example, the buyer may wish to purchase a contract with a maid to provide weekly cleaning for their three bedroom, two-bathroom townhouse. The pricing of this contract would be different if the house had an extra bedroom. Instead of requiring the user to select the product that best suits their needs, the system and method, according to a preferred embodiment, asks the buyer a series of questions used by the engine to select and price the appropriate product that meets the buyer's circumstance.

The product listing for potential maid service contracts might also be different per vendor since companies may use different variables to formulate their product pricing.

This invention contains domain knowledge of the variables that are considered when selecting the appropriate product or pricing a product based on the level of effort required to complete the transaction. This knowledge allows the engine to select or price the appropriate product and present a single listing to the buyer of products from multiple vendors. Additionally, the buyer could make a purchase directly through this system. Another object of this invention is to provide a method for introducing a first party to a second party for engaging in a transaction. Such introduction would preferably be based upon prescribed or variable criteria from at least one of the parties, and could provide for an anonymous introduction.

To achieve these objects in whole or in part, there is provided a method of matching buyers to at least one vendor through a network that includes identifying vendor selection criteria, and selecting at least one appropriate vendor from a plurality of vendors according to one or more selection criteria. To further achieve these objects in whole or in part, there is provided a method of identifying vendors for a potential buyer over a computer network that includes receiving vendor selection criteria from the potential buyer, identifying qualified vendors meeting the vendor selection criteria from a database of vendors, notifying the qualified vendors of the potential buyer, establishing communication between the potential buyer and the qualified vendor.

To further achieve these objects in whole or in part, there is provided a network based lead generation system that includes a spatial location engine to determine a location criteria of a buyer and compare it to location attributes of a plurality of vendors, a database containing information regarding the plurality of vendors and a plurality of products, an analyzing unit to collect selection criteria information from the buyer, a quotation engine to select qualified vendors and products for the buyer based on the location criteria, database information, and selection criteria.

To further achieve these objects in whole or in part, there is provided a network based selection system that includes a first logic unit to determine a first set of vendors from a database of vendors based on a first set of input criteria, and a second logic unit to determine a second set of vendors from the first set of vendors based on a second set of input criteria, wherein the database of vendors includes prescribed information relating to the vendors, and wherein each of the first and second logic units compare the prescribed information in the database with selection criteria.

To further achieve these objects in whole or in part, there is provided a method for introducing a first party to a second party for engaging in a transaction that includes means for entering a request identifying at least one criterion for a transaction by the first party through a network, means for identifying the second party to engage in the transaction based on at least one criterion, means for providing an identification of one of the first and second parties to the other party to facilitate an introduction. Additional advantages, objects, and features of the invention will be set forth in part in the description which follows and in part will become apparent to those having ordinary skill in the art upon examination of the following or may be learned from practice of the invention. The objects and advantages of the invention may be realized and attained as particularly pointed out in the appended claims.

BRIEF DESCRIPTION OF THE DRAWINGS

The invention will be described in detail with reference to the following drawings in which like reference numerals refer to like elements wherein:

Figure 1 is a drawing showing a network for matching vendors to buyers. Figure 2a is a drawing showing a network-based system for matching buyers to sellers.

Figure 2b is a drawing showing a block diagram of the system of Figure 2a.

Figure 3 is a drawing showing a method of matching a buyer to a seller in accordance with a preferred embodiment of this invention. Figure 4 is a drawing showing a method of matching a buyer to a seller in accordance with a preferred embodiment of this invention.

Figure 5 is a drawing showing a method of determining an estimate for goods and services in accordance with a preferred embodiment of this invention.

DETAILED DESCRIPTION OF PREFERRED EMBODIMENTS Figure 1 shows a network-based system, preferably a web-based system or other equivalent or similar system, for linking buyers and vendors of goods and services according to prescribed criteria. Referring to Figure 1, a first party 1, such as a buyer, establishes communication to the Internet 3 through an Internet service provider (ISP) 2. From the Internet 3, the first party 1 can establish communication with the network- based system 4. The network-based system preferably includes a server farm 4a, which is made up of a plurality of servers containing instructions for sorting through information provided by the first party 1, as well as information provided by second parties, such as vendors. The information provided by second parties could be stored in a database 4b. Alternatively, a second party, such as party 2, could provide their own database of information 7b and allow the network-based application 4 to access that database through the Internet 3. Similarly, a second party such as party 3, could link directly to the server farm 4a to allow the network-based application 4 access to party 3's database 8b. In this scenario, it should be noted that any of the parties party 1, party 2, and party 3 could be either a buyer or a seller. Additionally, it should be noted that the

Internet 3 could be replaced by any computer network.

Functionality built inside the system preferably includes a decision support tool that provides information typically used to make a purchase decision, and a product selection and price quotation system that preferably captures, analyzes, and makes decisions based on a set of domain-specific variables. The network-based application could be connected to Internet sites, allowing the sites to link directly to the centralized server farm that serves as a host for the system's functionality and database. The product selection and quotation system 4a can also be distributed throughout a network of computers, thereby allowing vendors to use it in their own Internet and intranet applications. Open access to the production selection and quotation system is available to these systems through a series of application programmer interface (API) points. See, for example Building Corporate Portals With XML (Enterprise Computing). Finkelstein, Aiken, ISBN: 0079-137059 and COM and CORBA Side By Side Architectures. Strategies, and Implementations, Pritchard, ISBN: 0201379457 which are incorporated in its entirety herein by reference. Referring to Figure 2a, the network-based system 100 preferably serves as a mediator or broker, linking on-line buyers and sellers of goods and services according to a preferred embodiment.

As shown in Figure 2a, the network-based system 100 according to a preferred embodiment preferably includes 1) a database of vendors 101, their geographic territory, and product offerings including, for example, promotional, pricing, and/or availability information; 2) a lead generation engine 102, which provides an active filter for companies based, for example, on a combination of geographic, business, customer feedback, and professional certification/licensing information; 3) a product selection and quotation system 103, which preferably uses a combination of rules and formulas to select products based on a buyer's profile; 4) a series of information capture forms 104 that contain domain specific knowledge about the type and scope of data needed for a human or computer expert to make product, marketing, and/or pricing choice recommendations corresponding to a buyer's individual needs; and 5) a decision support tool 105 that preferably provides buyers with corporate and product information through a single view and allows the buyers to play "what-if" scenarios for the purpose of assisting the product selection process. These pieces can be used as stand alone functionality, integrated to form a cohesive on-line Internet tool, or used in any networked system.

The database 101 is preferably capable of holding vendor information, such as contact, marketing, and other relevant business information (such as licenses or certifications) about vendors. It should be noted that the database 101 could be split up and located in several remote locations, including at a vendor's site. The database 101 preferably contains a listing of information for all of the vendors listed therein. For example, the database 101 could list attributes relevant to each business area, such as maid service or portfolio management. The lead generation engine 102 preferably uses a vendor's spatial, i.e. geographic, region of interest to determine in which company "buckets" to deposit a buyer's inquiry form. The system preferably transforms the buyer's zip code or other identifying feature into a county and geocode (latitude/longitude position) corresponding to the buyer's area of interest. If the buyers specify the type of spatial selection chosen by the vendor, the engine 102 will locate only vendors who operate in the buyer's area of interest, or who are located within close proximity to the buyer. Alternatively, other criteria can be used to select vendors. For example, the buyer could enter a city, state, or telephone area code, or even a country. In addition to the spatial filter, the lead generation engine 102 preferably selects only vendors who offer the type of goods or services being sought by the buyer. Other filters, such as licensing, certification, or prior customer feedback can be defined by the buyer to limit the vendors who match their selection criteria. It should be noted that any criteria filters could be used, and that this list is provided by way of example. The system also preferably includes a manual or computer assisted product selection and price quotation feature 103. Manual selection requires that a human operator login to the system, analyze the information provided by the buyer, and provide information back to the buyer. This information is preferably provided on a standard form, and can be sent to the buyer through any method, such as by e-mail, a special web page, or other appropriate means. If the buyer grants permission for their contact information to be passed onto vendors, the vendor can choose to be notified, for example by e-mail or other form of correspondence. The vendor then has the option of contacting the potential buyer.

The automated product selection and price quotation system 103 preferably performs a prescribed operation to select products or generate quotes based on information the buyer provides through, for example, an information capture form 104. The buyer's information is then preferably compared to the database 101 of vendors matching the criteria required by the buyer.

The database information 101 is used to either build a dynamically generated information capture form 104, or to modify a pre-existing version of the form. The form 104 preferably prompts the buyer through a series of questions to collect information needed by the system in order to more accurately match a buyer to a seller, although a static form could alternatively be provided.

The dynamic form 104 generation logic is data driven. That is, it will read information from the database 101 to create a series of questions that will be presented to the buyer. Each question preferably has one or more input controls associated with it, which allow the user to respond by selecting options from a drop down list, choose yes or no in response to a simple question, or freely enter data into a text input control. Other forms of input are also available. The buyer is further provided the opportunity to specify which characteristics are most important to the buyer. For example, the buyer can indicate which items, such as price, quality, location, or experience, are most important. The format of the form is defined by an industry standard text formatting logic, such as HTML or XML. This information can then be stored in the database 101 for the purpose of comparing it to vendor data, passing it onto vendors, or generating information needed by the buyer. The system will then preferably compare the vendor's information and criteria against a buyer's profile, looking for a match. Since an intersection connector is used to link multiple criteria, the buyer must match each criterion in order to be eligible for the product or price. Other logical operations, however, could be used. For example, if the buyer or vendor is indifferent between certain criteria, the system could, and preferably shall conditionally, use an "OR" operator to determine a match. It should be noted that the prescribed operation or steps based on an algorithm preferably does not filter for a specific or limiting number of "hits" for each vendor or business, meaning that multiple output records could be generated for each business, company, or category.

The product selection and price quotation system 103 of the preferred embodiment can be hosted either in the same server farm as the main engine, or distributed out at the vendor's sites, or at another remote location. If the system 103 is configured to be distributed at the vendors' sites, the vendor could use it for internal systems and have greater control in updating and keeping current the vendors' selection criteria. It also allows the system to accept quotes through a standard HTTP-based API, allowing it to communicate with third party engines (that have an interface that accepts the API) or proprietary engines that are hosted off site.

The vendors are then notified of potential leads, i.e., buyers who register with the system and who indicate their interest in receiving information about a specific good or service provided by the vendors. Vendors have the option of being notified about potential buyers who live within a selected number of miles from one of their offices or who reside in the geographic area that they serve, and can be notified in any one of several ways, such as e-mail alerts or other type of notifications. Buyers also have the option of receiving vendor information anonymously, meaning that their profile information will not be passed to any vendors until the buyer gives permission.

Vendors can also elect to have an automatic response generated by the system. Such a response system would preferably use a combination of rule and formula based logic to generate match and response information. The rules and formulas could be predefined or could be dynamic based on other responses. The rule based logic preferably uses a set of standard Boolean operators to define a series of criteria that form a standard profile of the type of buyer for which the price quotation or product recommendation is valid. Multiple criteria can be logically intersected together, to form a complex rule based on multiple variables. Such an operation could be done using a logical AND operation, for example. The variables are the same as used to generate the information capture forms, meaning that they are specific to certain criteria, such as type of business. Alternatively, when the lead generation engine 102 and product selection and price quotation system 103 have completed their respective tasks, the buyer is preferably presented with a listing of all vendors generated by the lead generation engine 102. Those vendors who previously selected automatic response will be at the top of the list, since their information will be more comprehensive. The listing could contain contact, marketing, price, licensing, and available information about the vendor or the product that the vendor offers. For example, the contact information should preferably include the vendor's name, address, phone and fax numbers, web and e-mail addresses. Product information should preferably include the name, price, and availability either in terms of units or in terms of time which the price of the product will be honored.

Different weighting schemes are also available. For example, vendors who have the lowest price for a particular good or service could be placed at the top of the list, so as to provide the buyer with an easy way to determine the lowest price. Additionally, vendors having the closest proximity to the buyer could alternatively be placed at the top of the list. Preferably, the buyer could toggle between weighting criteria, so as to be able to multiple sorts on the qualified vendors.

The vendor listings are preferably ordered according to a set of decision criteria weightings, which can be standard or customized by the buyer. For example, price may have weighting of 30%, feedback 50%, and licensing 20%. The user has the option of changing the ratings so that they more accurately reflect the information that the buyer considers most important. The list will then preferably be re-ordered so that the most optimal vendors will be at the top of the list. Buyers can also play "what if" scenarios by changing the weightings, then re-ordermg the list to see which vendors best match the buyer's needs. Feedback information may also be provided, focusing on any ratings or comments provided by former clients of the vendor, and defined in terms which may or may not be specific to the type of business. For example, former customers can provide a quantitative rating, such as a numeric rating from 1-5, for each rating category, along with a comment about why that rating was selected. Ratings can then be aggregated in the form of a rating summary that is presented to potential buyers.

In addition to feedback information from former customers, the system includes the ability for buyers to communicate with experts who have knowledge in the field in which the buyer is searching. For example, if the buyer is shopping for stereo equipment, the buyer could speak with someone knowledgeable in stereo equipment to help the buyer make an appropriate selection. Moreover, the expert will have the ability to monitor communications between the buyer and the vendor, and provide feedback to the buyer concerning the information discussed. This functionality would be provided through the system, and preferably over the Internet. The option could be selected by the buyer at any time during the process. While in a preferred embodiment, the expert is a human being interacting with the buyer, the expert could be a database which either responds to the buyer or is searchable by the buyer.

The buyer will preferably also be able to select any of the products for the purpose of making an on-line purchase of the product. This will include the ability to pay for the product through an on-line credit card capture and authorization function as well as using digital signatures. Once the transaction is complete, the buyers application can be assembled into an industry standard format language, such as XML, for the purpose of transferring the information to the vendor through either email, FTP, or through an external interface to the vendor's workflow system. It is also contemplated that the system will include a bidding function to allow vendors to compete against one another for the buyers' business. For example, if two vendors qualify under the buyers' criteria, and each has the same price for the product, the vendors can be notified that they will have an opportunity to bid down the price in order to get the sale. Alternatively, the buyer could submit to each vendor the competing prices to see if a preferred vendor could match a lower price. Also, for service-based products, the buyer can preferably schedule an appointment on-line that will interface with company's calendaring engine to determine which representatives will be in the buyer's area and with the skills to complete the transaction. Moreover, it should be noted that while the description above is directed toward a buyer searching for a seller using the network-based application 100, the system could also be used by a seller to search for buyers. Different or additional criteria may be used in such a configuration. Additionally, any response generated by the system could be sent to a third party, rather than to the buyer or the seller.

Referring to Figure 2b, the system according to a preferred embodiment contains a lead generation engine 210 and a product selection and quotation engine 211. The product selection and quotation engine 211 uses algorithms to allow the system to select the appropriate or qualified vendors and products for a specific buyer. This functionality is preferably supported by a database, such as an expert database, which contains the information required for a specific buyer's criteria. This information can then preferably be used to generate a dynamically generated application form to identify the buyer's criteria to present the buyer with series of questions. When the completed form is submitted to the engine 211, the data can be used by the system to calculate price, generate a personalized marketing pitch, and/or make product and/or recommendations.

The lead generation engine 210 preferably includes a buyer/seller matching function unit 201 coupled to a seller filtering function unit 202 of the quotation engine 211. The filtering function unit 202 is also coupled to the lead notification function unit

203. The buyer/seller matching function unit 201 receives input from both the buyer and the seller, so as to conduct a preliminary match of the buyer and seller. For example, the buyer/seller matching function unit 201 receives the buyer's request 204, as well as the seller's service areas 205 and category registrations 206. The seller's information is preferably provided to the system in advance and stored in a database. The buyer/seller matching function unit 201 analyzes this preliminary information to identify a preliminary set of sellers. Specifically, the spatial location engine 210 preferably contains a database of potential sellers, along with their spatial, i.e., geographic, information. Based on information provided by the buyer in the request 204, the lead generation engine 210 compiles a preliminary list of sellers for the buyer based on location attributes. The lead generation engine 210 can base the results on information provided by the buyer, seller, or both. For example, if the seller only wants to sell to buyers in a specific region, the seller could indicate that only buyers from that region should be notified of the seller and that they only be notified of buyers in that region. Likewise, if the buyer wishes only to buy from sellers in a particular region, only sellers meeting that criteria would be produced from the search. Alternatively, if geographic information is not a consideration, the full list of buyers and sellers could be passed along.

The lead generation engine 210 further includes a category registration unit 206. Using the category registration unit 206 it is possible to define a product category which the buyer is interested in. Such a product category can be defined in multiple iterations with each pass becoming more focused. For example, if a buyer wishes to purchase a sofa, the buyer would first select a major category such as "furniture." The buyer could then select a sub-category of sofas, and be provided with only sellers who offer sofas for sale.

Thus, when first accessing the system, the buyer will preferably be presented with a category listing of major products and services that are currently supported by the system. The buyer can then select categories and eventually be presented with specific products or services that the buyer is interested in purchasing. Each product or service is represented as one or more forms that will capture the information necessary for a computer or human to make a product recommendation and/or define a marketing plan tailored to the individual buyers' specific circumstance. When data capture is complete, a list of qualified vendors is generated. The list of sellers generated by the lead generation engine 210 is then forwarded to the filtering function unit 202. The filtering function unit 202 receives more detailed information regarding the buyer and seller. For example, the buyer can submit information that is generated by the dynamic form, as discussed above. Using attribute filters 207, the seller filtering function unit 202 determines which sellers are appropriate for the buyer's selection criteria.

Specifically, the attribute filter 207 works in conjunction the filtering function unit 202, using algorithms to match appropriate sellers and products with the buyer. The quotation engine 211 uses a database of information regarding specific sellers and products, and prompts the buyer with a series of questions which serve as a filter. The questions make up the dynamically generated form. The information supplied by the buyer through the form serves as a filter, and is processed with the database information to determine appropriate sellers and products. Furthermore, the quotation engine 211 can use the filters and databases to calculate price, generate a personalized marketing pitch, and/or make product recommendations to the buyer. The filtering function unit 202 forwards this revised list of sellers to the lead notification unit 203. The lead notification unit 203 is coupled to a database of notification preferences 208 for each of the sellers in the system, and uses this information to determine how to forward lead information to the sellers. The lead information could be forwarded, for example, by e-mail, fax, instant messaging, wireless or landline communications or any other method of communication. Notification could be accomplished by flash notification (i.e., notification of each lead) or temporal notification (i.e., package all leads and send once per time period (i.e., daily)). Alternatively, the filtering function unit 202, after determining which sellers are appropriate for the buyers needs, could forward the list, or a partial list, of the compatible sellers to the buyer. Depending on the level of detail of information provided by both the buyer and the seller, the filtering function unit 202 could forward the buyer detailed information about the products that the buyer wishes to purchase. For example, the information could include the name, address, and telephone number of seller, as well as a detailed product description and pricing information. Moreover, the filtering function unit 202 could forward the revised set of sellers to both the buyer and the lead notification unit 203, so that both the buyer and the seller would be notified of the other.

In the scenario where the filter functioning unit 202 provides information directly to the buyer, additional information such as promotional items, discounts, or other marketing materials could be sent to the buyer. Additionally, the information could, and preferably shall, contain information or an address for a web-page unique for each buyer, which has all of the seller's information and promotional items. In this way, the seller can provide a single link for the buyer to use, and not have to store all of the product information on the system. Rather, the seller can keep the product information on its own computer, and have more control over the information.

Referring to Figure 3, a method for matching buyers and sellers over a network preferably requires that the buyer input both geographic information as well as product information to a broker, as shown in step 301. This information can be provided over a computer network to the broker. In a preferred embodiment, the broker is an Internet based system.

The broker, based on the buyer's information, identifies a set of sellers meeting the specification criterium provided by the buyer, as shown in step 302. This identification can be made from a database of sellers located in a particular geographic region, a database of goods, a combination of the two, or any other method that identifies goods which match the buyer's requirements.

Next, as shown in step 303, once qualified sellers are identified, the broker notifies the buyer of a list of sellers that meet the criterium. Alternatively, the broker could forward the buyer's request onto the identified sellers, and have the sellers contact the buyer. This contact from the sellers could come either directly from the seller, or through the broker so that the buyer can remain anonymous. The broker can assist the seller by sending each seller the buyer's information. As shown in step 304, this can be done by e-mail, regular mailings, telephone, fax, or any other method of delivering information. Additionally, if the buyer wishes to remain anonymous, only selected information would be forwarded.

Referring next to Figure 4, the algorithm for matching a buyer and a seller will be described. As shown in step 401, the system receives a request which has been submitted by a buyer. Next, the system identifies a list of sellers from its database of sellers, as shown in step 402. For each seller identified on the list, the system determines if the seller is associated with the category specified by the buyer, as shown in step 403. For example, if the buyer has indicated that he is looking for a sofa, the system determines whether the seller is associated with the "sofa" category. If the seller is not from the proper category, the seller is discarded. If, however, the seller is associated with the desired category, then the system proceeds to the next step.

Next, as shown in step 404, the system determines whether the seller services the geographic area where the buyer wants goods or services. If the seller does not, then the seller is again discarded. If, however, the seller provides goods or services to the buyer's desired location, then the system proceeds to the next step. Referring to step 405, the system next determines if there are any further criterion that would exclude the seller from the group of acceptable sellers, or if there are any attribute filters that would prohibit the seller from receiving the buyer's request. For example, if the buyer were searching for a catering service, a filter could be set for outside services, or for services of $5-$ 10 per person. If a seller were not able to meet both of these criteria, that seller would be excluded from the list and is discarded. Otherwise, the process proceeds to the next step.

Step 406 shows that the system notifies the seller of a potential sales lead. This can be accomplished by sending an e-mail to the seller, sending a fax to the seller, or any other method of communication. The seller can be provided with the buyer's contact information, if the buyer so chooses, or can be notified that there is an anonymous buyer who will be contacted through the system. Alternatively, the system can be set up to automatically send information to the buyer regarding qualified sellers. This information could include address, phone number, and web-site information, as well as special promotional offers which can be associated with the lead generated by the system.

Next, as shown in step 407, the system determines if there are any other sellers who need to be processed in accordance with steps 403 - 406. If so these steps are repeated for each seller. It should be noted that the system jumps to step 407 after any seller is excluded in steps 403-405. If, however, no further sellers remain in the database to be processed, then the process ends.

Figure 5 relates to the method of generating a price estimate for a particular request. As shown in step 501, a buyer's request is submitted to the system, and sellers are matched to the request in step 502. Next, for each seller that is matched to the request in step 502, the following steps are performed.

As shown in step 504, the system first determiners if estimates are available. If not, then the system moves onto the next seller, and repeats the process. If estimates are available, however, the system then determines active estimates, as shown in step 505.

Next, the estimates are filtered using seller supplied rule information, as shown in step 506. Sellers are able to specify price estimates and product recommendations including price, product description, availability, etc. Each auto-generated estimate/recommendation includes a series of 1 to N rules that specify the type of request for which the estimate or recommendation should be based. These rules are based on the same attributes stored in the database as the fields that comprise the information capture forms, for example a net worth greater than 500 and an age greater than 40. The system then determines if a valid estimate exists, as shown in step 507. If no valid estimate exists, then the seller is notified of the sales lead in step 508 and the seller manually enters an estimate in step 509. If, however, a valid estimate does exist, then the estimate is assigned to the seller and reported to the buyer, as shown in step 510.

The system then determines if any additional sellers remain to be processed for estimates. If more sellers remain, steps 504-510 are repeated. Otherwise, the process ends.

The invention as embodied allows sellers to market directly to people who are currently in the market for the sellers' goods and services. The system could also include additional efficiencies in areas of on-line purchasing of goods and services, automated application generation, and links to calendar applications for the purpose of scheduling work that has been purchased through the application.

The invention as embodied also allows buyers to save time by providing a single data capture mechanism whose results are then distributed to local companies that provide a particular good or service. Company ratings allow the buyer to see an unsolicited list of references that allow them to determine the product quality, technical expertise, and ability to deliver in a timely manner.

It should be noted that any selection criteria could be used by the buyer or vendor. Throughout the application, geographic region of interest has been used by way of example to show a primary selection criteria. This, however, could be replaced with any criterion which is important to the buyer or seller. For example, price could be used as the most important criterion, and geographic region could be removed altogether.

The foregoing embodiments and advantages are merely exemplary and are not to be construed as limiting the present invention. The present teaching can be readily applied to other types of apparatuses . The description of the present invention is intended to be illustrative, and not to limit the scope of the claims. Many alternatives, modifications, and variations will be apparent to those skilled in the art. In the claims, means-plus-function clauses are intended to cover the structures described herein as performing the recited function and not only structural equivalents but also equivalent structures.

Claims

WHAT IS CLAIMED IS:

1. A method of matching buyers to at least one vendor through a network, comprising: identifying vendor selection criteria; and selecting at least one appropriate vendor from a plurality of vendors according to one or more selection criteria.

2. The method of claim 1, wherein the selection criteria includes one of geographic region and business type.

3. The method of claim 1, further comprising notifying the selected vendors of having been selected.

4. The method of claim 3, wherein the notification is through one of e-mail, file transfer protocol, integration technology, DCOM, XML, CORBA, HTTP, wireless devices, or instant messaging.

5. The method of claim 1 , wherein the buyer provides the selection criteria and a database stores vendor information for each of the plurality of vendors.

6. The method of claim 5, wherein the buyer is prompted to input the selection criteria through one or more information capture forms.

7. The method of claim 6, wherein the information capture forms are dynamically generated, and are able to extract information needed by manual or automatic decision makers to allow the decision makers to generate one of more of directed marketing content, sales strategy, product recommendations and price quotations.

8. The method of claim 7, wherein the database contains information required by the manual or automated decision process to make product recommendations, formulate one-to-one sales strategies, generate customer specific marketing content, or generate price estimates/quotations.

9. The method of claim 5, wherein the buyer is notified of vendors meeting the selection criteria.

10. The method of claim 9, wherein the selection criteria includes at least one of price estimates and product recommendations, which are either manually or automatically generated by the system.

11. The method of claim 1, further comprising storing the results of the selection.

12. A method of identifying vendors for a potential buyer over a computer network, comprising: receiving vendor selection criteria from the potential buyer; identifying qualified vendors meeting the vendor selection criteria from a database of vendors; notifying the qualified vendors of the potential buyer; establishing communication between the potential buyer and the qualified vendor.

13. The method of claim 12, wherein the vendor selection criteria is selected from the group comprising product selection criteria, geographic information, price criteria, quality criteria, and availability criteria.

14. The method of claim 12, wherein the database of vendors contains detailed information concerning the vendors.

15. The method of claim 12, further comprising notifying the potential buyer of the qualified vendors.

16. The method of claim 12, further comprising at least one of scheduling and accepting electronic payment for a selected product.

17. A network based lead generation system, comprising: a spatial location engine to determine a location criteria of a buyer and compare it to location attributes of a plurality of vendors; a database containing information regarding the plurality of vendors and a plurality of products; an analyzing unit to collect selection criteria information from the buyer; a quotation engine to select qualified vendors and products for the buyer based on the location criteria, database information, and selection criteria.

18. The system of claim 17, wherein the analyzing unit comprises a dynamically generated application form to be completed by the buyer and submitted to the quotation engine, and wherein the spatial location engine and the database use the data from the application form to generate the list of qualified vendors.

19. The system of claim 18, wherein the quotation engine further generates custom reports for each qualified vendor, including at least one of a price, personalized marketing pitch, and product recommendations to provide to the potential buyer.

20. The system of claim 19, wherein the quotation engine uses a logical algorithm to generate each of the custom reports.

21. A network based selection system, comprising: a first logic unit to determine a first set of vendors from a database of vendors based on a first set of input criteria; and a second logic unit to determine a second set of vendors from the first set of vendors based on a second set of input criteria, wherein the database of vendors includes prescribed information relating to the vendors, and wherein each of the first and second logic units compare the prescribed information in the database with selection criteria.

22. The system of claim 21 , wherein each of the logic units includes a prescribed application program interface that allows rules and formulas contained inside an algorithm to be distributed across a wide area network, and wherein the interface defines a type of data and a format of data that must be transferred to a distributed application over the wide area network.

23. The system of claim 22, wherein the interface is adapted to conform to existing logic products or specific logic that serve as general purpose algorithms.

24. The system of claim 22, wherein the interface allows the system to integrate with other protocols.

25. A method for introducing a first party to a second party for engaging in a transaction, comprising: means for entering a request identifying at least one criterion for a transaction by the first party through a network; means for identifying the second party to engage in the transaction based on at least one criterion; means for providing an identification of one of the first and second parties to the other party to facilitate an introduction.

26. The method of claim 25, further comprising at least one of means for scheduling electronic payment for the transaction and means for accepting electronic payment for the transaction.