Executive at Top Outsourcing Firm Identifies Competitive Advantages in New Version of TeraMatch® Technology
(Austin, Texas) – April 23, 2007
Data Quality Management, possibly the most critical issue confronting businesses, has been markedly advanced by the latest version of TeraMatch® from S3 Matching Technologies. Early implementations of TeraMatch® 5.0 on major outsourcing projects have shown the technology to automatically deliver 75 percent more matches than traditional data matching solutions, leading to significant improvements in costs and revenues. According to Phil Asmundson, vice chairman and national managing partner of Deloitte and Touches’ Technology, Media, and Telecommunications Practice, improvements in data matching mean outsourcing projects get the best possible data at the outset of an engagement.
“Our biggest challenge often occurs at the beginning of our work,” said Asmundson. “Data Quality Management resolves the typically monumental effort needed to create a clean, consolidated database to begin working from. This means we start out by potentially saving our clients millions.”
TeraMatch®, which is the underlying technology in all of S3’s data solutions, was already considered a “best in class” data matching software in the industry. Refinements added to TeraMatch® 5.0, however, have increased the already unequalled matching capability of the technology by 30 percent and have reduced false positives by 20 percent.
“Undoubtedly the S3 approach to upfront data matching enables a competitive advantage for delivering economic results,” said PhD. Frank Bernhardt, an economist with Omni Consulting Group. “Our latest research shows the importance of strategic investments in Data Quality Management solutions, and TeraMatch® 5.0 performs with an efficiency that allows staffing resources to be used elsewhere, instead of laboring over bad data issues.”
TeraMatch® 5.0 has been launched into the telecom and financial services businesses and will soon be used in the health care industry, according to Jack Holt, CEO of S3 Matching Technologies. “No technology known can completely eliminate data exceptions needing some human intervention,” added Holt. “But TeraMatch® 5.0 reduces them lower than ever before and also embeds electronic workflow to follow exceptions to resolution.”
About S3 Matching Technologies (www.S3.com)
S3 is an Austin, Texas based company focused on providing data quality management software for the IT, telecom, financial services, and healthcare industries. S3 invented TeraMatch®, a rules-based matching engine which uses algorithmic scoring based on industry-specific best practices. S3’s software may be deployed as licensed software or as a managed solution.