System and method for matching an offer with a quote

System and method for matching an offer with a quote

The present invention relates to electronic commerce. More specifically, the invention relates to the purchase of travel accommodations, such as hotel rooms, in an electronic exchange transaction. Described is a system and method that satisfies offers from customers with quotes from suppliers in a w...

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Hauptverfasser: Harford, Barnaby Merrick, Widjaja, Sendi, Bogdanovic, Maja, Hector, Clair
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Sprache:eng
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creator Harford, Barnaby Merrick
Widjaja, Sendi
Bogdanovic, Maja
Hector, Clair
description The present invention relates to electronic commerce. More specifically, the invention relates to the purchase of travel accommodations, such as hotel rooms, in an electronic exchange transaction. Described is a system and method that satisfies offers from customers with quotes from suppliers in a way that increases the likelihood of achieving an acceptable match. The system of the present invention is configured to receive from a customer an offer for a product. The system queries in parallel multiple suppliers for rate quotes on the desired product. Each of the suppliers is ranked according to the lowest rate quoted by each supplier. The supplier quoting the lowest rate is selected as the winner of the offer. The system may then evaluate any other rate quotes provided by the winning provider. The system may satisfy the customer's offer with the winning provider at a higher rate (if one was provided) than the winning rate quoted, up to the customer's offer (perhaps adjusted for a reasonable profit). In this way, even though the provider provides low rate quotes to win the offer, the provider may still realize a much higher rate for the goods or services by quoting additional, higher rate quotes as well.
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title System and method for matching an offer with a quote
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