Method, system, and storage medium for facilitating procurement functions over a computer network

A method for facilitating procurement functions over a computer network, comprising:

• receiving an invoice at a centralized procurement location;
• retrieving a purchase order associated with said invoice;
• comparing price terms on said invoice to price terms on said purchase order;
• comparing quantity terms on said invoice to quantity terms on said purchase order;
• if said price terms on said invoice and said quantity terms on said invoice match said price terms on said purchase order and said price terms on said purchase order:
• transferring said invoice to an accounts payable representative for payment;
• and
• if either of said price terms on said invoice and said quantity terms on said invoice do not match either of said price terms on said purchase and said quantity terms on said purchase order:
• initiating a blocked invoice referral.

A storage medium operable for facilitating procurement functions over a computer network, said storage medium including instructions for causing said computer network to implement a method comprising:

• retrieving sourcing strategy information relating to data verified in a requisition, said requisition received at a central procurement location;
• and
• if said data in said requisition comports with said sourcing strategy information:
• executing a purchase order for said requisition;
• transmitting said purchase order to a specified supplier;
• and
• storing requisition information in a requisition tracking database.

A storage medium for facilitating procurement functions over a computer network, comprising:

• receiving an invoice at a centralized procurement location;
• retrieving a purchase order associated with said invoice;
• comparing price terms on said invoice to price terms on said purchase order;
• comparing quantity terms on said invoice to quantity terms on said purchase order;
• if said price terms on said invoice and said quantity terms on said invoice match said price terms on said purchase order and said price terms on said purchase order:
• transferring said invoice to an accounts payable representative for payment;
• and
• if either of said price terms on said invoice and said quantity terms on said invoice do not match either of said price terms on said purchase and said quantity terms on said purchase order:
• initiating a blocked invoice referral.

A centralized procurement system for facilitating procurement functions over a computer network comprising:

• a server executing:
• an aged invoice application;
• a reporting application;
• an automated approval application;
• and
• an automated call distribution application;
• an internal storage associated with said server, said internal storage device housing:
• a sourcing feed database;
• a requisition tracker database;
• an aged invoice database;
• a supplier management database;
• and
• a bypass database;
• a plurality of client systems in communication with said server via said computer network, said client systems including:
• a sourcing client;
• a buyer client;
• and
• a supplier client.