Company's Invention Discovers Errors in Communications Network Billing Systems
(Eds - Due to the proprietary and competitive nature of the services and software offered by S3 Matching Technologies, our client/customers are unable to talk on the record. However, several are willing to speak on background about a significant problem in telecom billing and how our products correct this situation.)
6/4/2004
(Austin, Texas) - The lost and misallocated calls of complex communications network billing systems can now be accounted for with a unique product created by S3 Matching Technologies. Called TeraMatch® by its inventors, the patent pending technology has a previously unavailable capability to independently match huge sets of data and identify discrepancies. TeraMatch®, which has applications across a number of industries, has been initially launched in the Telecommunications and Investment Services industries.
"We've discovered that both the telecoms and their customers are losing money as a result of complex billing systems that are just too big and expensive to be easily rebuilt," said Jack Holt, CEO of Austin, Texas based S3 Matching Technologies. "We've developed a product that finds these mistakes and corrects them in a way that both recovers lost revenue for the carrier and reduces cost for the customer."
According to Holt, TeraMatch® has proved that anywhere from 2 - 10 percent of calls in enterprise class networks are either lost or incorrectly billed. The discrepancies are the result of constantly expanding networks and billing systems where call data can be compromised, resulting in calls that can be allocated to the wrong customer or calls with excessive duration.
"TeraMatch® fixes this problem by finding these mis-allocated calls," said S3's CTO Tim Pletcher. "Our technology can do something that has never been done before and this is to match billions of lines of data down to the single call level and correct mistakes."
Using a live system that finds and fixes errors within the monthly billing cycle, TeraMatch® takes the billing data from the carriers and matches it against the customer's call data. The ASP system finds both over-billing and under-billing errors and trues-up the variances.
"We are confident TeraMatch® will bring a new level of credibility and trust to the telecom industry," said Holt. "It acts to provide revenue assurance as well as insuring customers that they are paying only for what they used."
S3 Matching Technologies has begun to offer a TeraMatch® Certification Program to carriers interested in improving customer confidence and service.
A number of other industries using high volume transactions have also begun to deploy TeraMatch® to improve revenues and industry credibility. The technology is presently in deployment with Fortune 50 financial institutions as well as brokerage and trading companies dealing with huge datasets and increased visibility required under new rules from the Securities and Exchange Commission.
About S3 Matching Technologies: S3 is an Austin, Texas based company dedicated to the development of technology and services focused on revenue assurance and data integrity in high-transaction volume enterprises for Fortune 500 companies. S3 invented a unique matching technology that we use to develop and market differentiated applications for various industries that lead directly to revenue generation or cost savings"