Cass processes millions of complex invoices per year, reducing costs and improving visibility to expenses. In 2016, Cass processed invoices for $44 billion in spend.
Cass is a business processor that serves large corporations with expense management by processing complex invoices (for freight, energy, telecom and other facilities costs) and providing much-needed visibility into these expense areas. The market rewards organizations that can control G&A expenses and move goods more efficiently. By partnering with Cass, organizations reduce their costs through superior invoice management, which includes automated processes for invoice validation and audits, precision timing of payment, and analysis of current costs. It takes superior execution of the invoice management process to produce reliable, actionable data. That’s why large enterprises rely on Cass.
Invoice Process Lifecycle
An Ongoing Process Rather Than Event
The narrow focus historically given to the transactional “event” of processing an invoice has broadened to include a wider view of the continuous, business process “lifecycle.” As management recognizes opportunities for continuous process improvement, it seeks to better manage the value chain that begins with sourcing and ends with business analytics, but starts over again with sourcing. In other words, buyers “use what they know” to make better sourcing decisions. Data-driven expense management has taught the enterprise the value of information.
In addition to better sourcing decisions, analysis of the data produces other opportunities to refine processes, make better business decisions and understand results. For example, an organization using Cass for utility invoice management can calculate CO2 emissions and work on a myriad of initiatives to reduce its carbon footprint. Analysis of transportation expenses can help an organization optimize its transportation infrastructure, while analysis of telecom costs can help an organization manage compliance with corporate guidelines for wireless usage. These are just a few examples of how Cass helps organizations understand their expenses to ultimately improve the bottom line.
Automated Invoice Processing Reduces Costs
Cass works with clients to reduce paper invoices and convert to electronic methods where possible. When paper invoices are received, Cass converts paper to image so that invoices can be processed more efficiently and data from invoices can be extracted at the lowest possible cost. The goal is to pay invoices at a low cost without sacrificing the quality of the data and business intelligence outputs.
Specialized Software Applies Unique Business Rules
Cass invoice processing automation includes: verification/audit of the charge, harvesting invoice data, building a data warehouse for business analytics, allocating charges to cost centers and other controls such as supplier/contract compliance. Cass focuses on “complex payables” and achieves results that cannot be gained through the deployment of generic purchase-to-pay automation products. Each high-value business process must be handled uniquely, with software that accommodates specific functionality and business rules. In telecom expense management, the core software application manages telecom orders and updates the telecom inventory database so that when invoices arrive, charges can be audited against inventory. The software is able to ask the question, “Why is our New Jersey location being billed for three T1s, when our inventory database shows that only two are in service?” In parcel management, the specialized software is able to apply specific business logic to analyze each line-item charge to look for mistakes specific to parcel shipping.
Process Improvement Benefits
- Reduce paper handling, routing and filing
- Reduce workload with the need to manage only exception invoices
- Centralize invoice processing functions for complex invoices, eliminating disparate processes and multiple systems
- Gain visibility to invoices (view as either EDI templates or digitized documents)
- Archive invoice documents electronically
- Offload dispute management and supplier inquiries to Cass
- Maximize cash flow with invoices paid at the optimal time
- Reduce AP workload through automated, correct cost allocations and accruals sent directly into your ERP system
- Gain complete visibility into invoice status, payment information and operational metrics online