Cass Acquires TelAdvisor Group's Technology for Direct Delivery of Strategic Sourcing and Professional Services
ST. LOUIS, MO, May 25, 2010 (MARKETWIRE via COMTEX) --Cass Information Systems, Inc. (NASDAQ: CASS), the nation's leading provider of transportation, utility and telecom invoice payment and information services, has acquired the telecom procurement technology and expertise of TelAdvisor Group, LLC to offer strategic consulting services directly to its clients. John R. Stapleton, principle founder and president of TelAdvisor Group, has joined Cass to lead the expanded sourcing and professional services practice.
"Previously, we partnered with TelAdvisor Group to deliver these services, which we will now offer directly to our clients," commented Jim Dwyer, vice president and general manager of Cass' Telecom Information Services Group. "John brings significant intellectual capital, and our clients will benefit tremendously through this union, a culmination of many successful years as partners," he said. Cass will continue to develop TelAdvisor Group's best-practice benchmark and modeling tools to analyze procurement options, visualize procurement outcomes and negotiate the best rates when buying core services and emerging technologies.
With over 20 years of experience in the telecommunications industry, Stapleton is an expert in telecom-related assessment, analysis, recommendation, decision support, procurement and contracting through the use of auctions and automated tools. In 2003, Stapleton co-founded TelAdvisor Group, a telecommunications consultant group servicing multi-billion dollar enterprises.
Using the Cass approach to automate and manage the entire telecom lifecycle, Cass delivers best practice services in telecom expense management while meeting the needs of its customers' IT and cost accounting groups. Clients of Cass telecom expense management services include Aarons, Cumulus Media, Kohl's, Nestle, Sonoco and Stein Mart.
About Cass Cass Information Systems, Inc.
(NASDAQ: CASS) is the leading provider of transportation, utility and telecom expense management services 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 http://www.cassinfo.com.