20240037614. SYSTEMS AND METHODS FOR MANAGING EMPLOYEE-LIABLE EXPENSES simplified abstract (Cass Information Systems, Inc.)

SYSTEMS AND METHODS FOR MANAGING EMPLOYEE-LIABLE EXPENSES

Organization Name

Cass Information Systems, Inc.

Inventor(s)

Carl N. Friedholm of Greer SC (US)

Angela Melissa Taylor of Inman SC (US)

SYSTEMS AND METHODS FOR MANAGING EMPLOYEE-LIABLE EXPENSES - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240037614 titled 'SYSTEMS AND METHODS FOR MANAGING EMPLOYEE-LIABLE EXPENSES

Simplified Explanation

The patent application describes a method for managing reimbursement requests for employee expenses related to a service provided by a service provider. The method involves receiving and aggregating reimbursement requests within a specific time period. An invoice is generated with a payment amount to be paid to the employee, which can be subsequently transferred to the service provider. Funds are automatically requested from the employer and electronically transferred to the service provider or the employee for payment to the service provider.

• The method manages reimbursement requests for employee expenses.
• Requests for reimbursement are aggregated and scheduled for payment within a specific time period.
• An invoice is generated with a payment amount for subsequent payment to the employee.
• Funds are automatically requested from the employer for the payment amount.
• Funds are electronically transferred to the service provider or the employee for payment to the service provider.

Potential Applications:

• Streamlining reimbursement processes for employee expenses.
• Automating payment requests and transfers between employers, employees, and service providers.

Problems Solved:

• Reducing manual effort and paperwork in managing reimbursement requests.
• Ensuring timely and accurate payment to employees and service providers.

Benefits:

• Increased efficiency and accuracy in managing reimbursement requests.
• Improved transparency and tracking of payment processes.
• Time and cost savings for employers, employees, and service providers.

Original Abstract Submitted

a method is described. a plurality of employees are enrolled in the program and submit requests for reimbursement for expenses related to a service provided to the employees by a service provider for which the employees are liable. the method includes receiving, by the computer system, requests for reimbursement and aggregating the requests for reimbursement scheduled for payment within a predefined time period and associated with the service provider. the method also includes generating an invoice that includes a payment amount to be paid to the employee for subsequent payment to the service provider. the method also includes automatically requesting funds from an employer of the plurality of employees for the payment amount included in the invoice and electronically transferring funds associated with the employer to the service provider or alternatively, to the employee for subsequent payment to the service provider.