Texas Technology Firms Merge in Advance of National Product Launch S3, LP Name of Combined DueTel and Process Direction
January, 2003
(Dallas, Texas) - The two companies providing cost accountability services for clients of the financial services industry are merging. Dallas-based DueTel, the creator of TeraMatch® Technology solutions, is joining Process Direction of Austin, developers of the V-Process engine, which runs the TeraMatch® programs.
The new company will be known as S3, LP.
"This is a natural, market-driven response to our ongoing business relationship," said Jack Holt, S3 CEO and former CEO of DueTel. "The growth in demand for our TeraMatch® Technology has been made possible by the V-Process engine of Process Direction."
Holt, and Process Direction CEO Tim Pletcher, now S3's Chief Technology Officer who are both former Marines, chose the company name from a military acronym. In the Marine Corps and other branches of the military, the S3 shop is responsible for all planning and operations to assure victory on the battlefield.
"The future of the TeraMatch® Technology solution modules relies on the V-Process Engine to assure the flexibility to adapt to changing business environments" said Pletcher. "But our two companies have been interdependent for some time as Process Direction has been providing systems and development support to DueTel. It only made sense that we join forces."
S3, LP. has begun the implementation of the company's products and services for several Fortune 100 companies. Holt and Pletcher expect to announce contractual agreements early next year to reduce costs and increase accountability for large users of telecom services in the financial services industry.
"Initial interest in our TeraMatch® Technology and services has been very exciting," said Holt. "Executives of these major corporations are very enthusiastic when they see how much money we can save them on telecom charges, and the fact that it's a software system instead of a consultancy. We do it every month."
S3 Matching Technologies modules, patented (pending) call Matching, Contract Compliance, and Data Views enable Fortune 100s to scrutinize calls, data transfers, and hundreds of millions of other telecom charges on a line-by-line basis. S3 Matching Technologies' automated services deliver monthly reports and self-generated invoices, unlike typical auditors. Carriers can be automatically short paid before the invoice is ever paid when overcharges occur.
Early results from companies where S3's TeraMatch® Technology is being deployed have shown potential savings ranging from 2 - 18 percent on monthly multi-million dollar telecom bills.