Telecom Auditing Business Set for Technological Transformation
News Release
Jan. 4, 2005
Contact: Jim Moore
512.415.0682 jimoore@ctt-texas.net
(Austin, Texas) – The traditional business and pricing models of auditing companies providing Telecom Expense Management services are being rendered obsolete as a result of automated systems developed by S3 Matching Technologies of Austin. The patent pending TeraMatch® platform, which provides Call Matching, Call Rating, Billing Certification, and Asset Management, all deliver immediate cost savings to customers, unlike contingency contracts with expense auditors, who maintain their revenues only by allowing systems and processes to remain broken.
“An auditor doesn’t have any reason to point out mistakes early in the audit,” said Jack Holt, CEO of S3. “Because they get a percentage of savings on what they discover, the longer an error is allowed to run the more money the auditor earns and the more their client loses. Our technology ends this type of pricing model. We find the mistakes, fix them, and start saving money for telecom customers.”
TeraMatch® technology enables telecom customers to match their own inventory records against those of their carriers. Billions of lines of data can now be compared on a line-by-line basis to make sure a service was properly billed, routed, and rated, according to carrier contracts. When the S3 automated systems find errors, they are immediately reported and corrected. Auditors may not report billing errors until they have been allowed to run for some time, causing cash flow loss for the telecom customer and increased profit for the auditor.
Industry experts suggest that Telecom Expense Management auditors rely on contingency fees for as much as 80 percent of their revenues. If TEM vendors corrected billing mistakes when they were discovered, their fees would be dramatically reduced.
“The entire industry of TEM is motivated to keep the telecom industry inefficient,” said Holt. “They are making a very good living off of those inefficiencies, letting them run up costs, and finally reporting the mistakes when it is time to get a check for a percentage of savings. Our TeraMatch® platform is an entirely new business model for TEM.”
About S3 Matching Technologies (www.s3.com): S3 is an Austin, Texas based company dedicated to the development of technology and services focused on data integrity in high-transaction volume enterprises for Fortune 500 companies.