Wireless Services Corporation and Covault Corporation Announce Strategic Partnership Aimed At Increasing Wireless Carrier's Revenue.
BELLEVUE, Wash.--(BUSINESS WIRE)--Sept. 25, 2001
Wireless Services Corporation, a full service provider of wireless data delivery solutions, and Covault(TM), a leading software infrastructure provider for wireless data billing, have entered into a strategic agreement to provide wireless carriers, regardless of size or number of subscribers, innovative billing solutions designed to substantially increase revenue that is currently unattainable.
One-time events (such as downloading ring tones) are extremely difficult for wireless carriers to capture and quantify. Now, with the combined services of Covault and Wireless Services Corporation (WSC), such events can be tracked and posted as line items on the subscriber's bill according to the type of application, roaming status, the time of day, the type of user or any other multitude of contributing factors. The partnership provides a solid solution that wireless carriers can employ to not only generate additional revenue yet also fully capture the associated revenue with existing data services. Many popular services can now be billed directly to the subscriber's wireless phone bill on a one-time or periodic basis or paid for through a prepaid solution. These combined technologies provide mediation services and event-based billing to any size wireless carrier.
WSC will back the solution with its Wireless Application Delivery Platform (WADP) server software that processes and tracks the delivery of any wireless data to any device across any network in the world. The WADP is currently operating within several wireless carriers. Additionally, WSC will provide 24/7 services through its Virtual Network Operations Center (VNOC) and secure server installations.
Covault's patent-pending Billing Record Exchange software platform (BRX(TM)) works in conjunction with the carrier's existing billing system. Through its adaptable usage capture process and conditional formula-based rating engine, BRX can add billing records to existing bills or use alternate payment sources, such as Stored Value accounts. Carriers and subscribers can access their billing and usage details online.
"Wireless carriers understand the limitations in current-generation billing software, which have hampered deployment of new services and left carriers unable to fully exploit their revenue potential. That problem can be fixed today," said Gowri Shankar, Vice President of Sales for Wireless Services Corporation. "The combined platforms and technology that Covault and WSC provide play to the strength of current billing systems, and then add flexibility and a new layer of functionality and features. Covault's approach is smart, innovative and it works."
"If there was ever a time in the industry when it was critical to impact the bottom line, that time is now," said Covault CEO Marc Della Torre. "We believe that Covault has the answer. Carriers will be able to harvest revenue and profits from existing network usage with the mediation capability that BRX can provide. We have integrated our products and platforms to provide the carrier with a new layer of billing functionality that will change how everyone in the wireless world looks at new products and services. This is innovation."
About Wireless Services Corporation
Founded in 1996, Wireless Services Corporation (http://www.wirelesscorp.com) is the leader in designing and operating application delivery platforms for wireless telecommunications networks. Wireless Services' unique expertise is in its ability to provide universal wireless data applications to any wireless provider regardless of their current or future network infrastructure. The company provides telco-level reliability coupled with a full-service, 24X7 operations team. With more than five years of operational history, Wireless Services Corporation can easily facilitate the global delivery of email, commerce services and proprietary data to virtually any wireless device. The company is headquartered in Bellevue, Washington.
Established in 2000, Covault Corporation specializes in delivering a billing record exchange software platform to wireless network carriers and mobile virtual network operators. Covault's patent-pending technology solves an industry-wide problem found amongst these service providers caused by limitations in their current billing systems. Covault's BRX(TM) software provides unprecedented power and flexibility through variable usage capture and conditional formula-based rating features. BRX customers are now able to rate and bill for actual subscriber usage of premium services. With an increasing demand for applications, Covault's revenue sharing enables service providers and their content providers with the support for the underlying economics driving innovation and adoption. Covault is privately held and is based in Seattle, Washington. For more information visit our website at www.covault.com or contact us at 206/812-1775.