National Retailer Chooses Cass Expense Management Service
Restoration Hardware Selects Cass for Freight Audit and Payment Services
ST. LOUIS —June 23, 2010 – Restoration Hardware has selected Cass Information Systems, Inc. (Nasdaq: CASS), a leading provider of enterprise-wide expense management services, to provide freight audit and payment services to the home furnishings retailer.
Restoration Hardware owns and operates 107 stores throughout the United States and Canada, selling high quality textiles, furniture, lighting, bathware, hardware and decorative items.
Understanding its costs, particularly for last-mile logistics that often include “white-glove delivery,” was a key concern for the retailer. A large portion of its sales are fulfilled via home delivery, for which the consumer has a number of service options, such as furniture assembly and set up in addition to over the threshold delivery. For Restoration Hardware, these multiple options add to the complexity of auditing, understanding and controlling its shipping costs.
“Discussions with multiple providers convinced us that Cass’ ability to audit detailed and complex home delivery invoices is superior in the marketplace,” commented Glenn Berger, vice president global transportation. “In retail, understanding landed costs is vital to profitability. Cass’ system will give us an accurate window into our true delivery costs, which will help us make more accurate and informed pricing and product decisions.”
Cass will provide a complete freight audit and payment solution encompassing people, process and technology. Cass will pay carriers electronically, provide automated General Ledger coding and manage carrier inquiries and disputes. Using highly automated processes, Cass will capture extensive data regarding accessorial charges. Data from invoices and supporting documentation feeds a data warehouse allowing Restoration Hardware to analyze all aspects of its transportation costs.
“More than ever, our clients in retailing and manufacturing want to understand their costs, which is driving them toward systematic processes that capture accurate detail about every move and every itemized charge,” commented John Pickering, COO, Cass Transportation Information Services. “We’re delighted to help Restoration Hardware apply best practices by developing a data warehouse that will allow them to identify opportunities for process optimization.”
About Restoration Hardware, Inc.
Restoration Hardware (www.restorationhardware.com) is the Country’s leading premium home lifestyle brand, operating stores and an ecommerce web site in the United States and Canada. The Company also mails the Restoration Hardware Home, Garden, Outdoor, Baby & Child, and Gift catalogs to millions of home centered consumers throughout the year. Additionally the Company markets its brands to the Interior Design Trade, and has a Contract Division servicing the Hotel and Hospitality industry. The Company is currently owned by an investment group led by Catterton Partners and Tower Three Partners.
Cass Information Systems, Inc. (Nasdaq: CASS) is the leading provider of transportation, utility and telecom expense management and related business intelligence services, disbursing more than $24 billion annually on behalf of its clients. With annual revenues approaching $100 million and total assets exceeding $1 billion, Cass is a business process outsourcer focused on invoice audit, processing and payment services. Cass Commercial Bank, established in 1906, is a wholly owned subsidiary and Federal Reserve Member Bank, providing sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000(R) Index and was recently ranked #65 on the 2009 Fortune Small Business FSB 100 list of the fastest-growing public companies in America. More information is available at www.cassinfo.com.