$50 Billion in Payables Managed by Cass
Cass Information Systems is the leading provider of transportation, utility, waste and telecom expense management and related business intelligence services, disbursing more than $50 billion annually on behalf of its clients. Additionally, Cass acts as a behind-the-scenes provider for other companies’ branded B2B payment processing and commerce solutions. With total assets exceeding $1.5 billion, Cass is a thriving business process outsourcer focused on invoice management, audit and payment services. Cass is uniquely supported by Cass Commercial Bank, founded in 1906. Today, Cass Commercial Bank is a wholly owned subsidiary, providing sophisticated financial exchange services to the parent organization and its clients.
Business Process Expertise in “Complex Payables”
Cass possesses business process expertise surrounding the processing of complex payables. Complex payables are characterized by invoices with:
High complexity – due to transaction volume, complex rate structures and /or specialized fees/services
High tendency for errors – both large-dollar errors as well as repetitive, small-dollar mistakes that if not corrected, drive up costs substantially
High content value – when raw data assets are effectively converted to business intelligence
Processing complex payables requires specialized tools and processes. Even after organizations have implemented best-in-class solutions for accounts payable automation, they turn to Cass to meet their requirements for processing complex payables such as those for freight, parcel, utilities and telecom expenses.
Solid Financials Reported Publicly
One of Cass’ primary objectives is to maintain a strong capital base to warrant the confidence of customers, shareholders, and bank regulatory agencies. Its subsidiary, Cass Commercial Bank, has avoided participation in sub-prime mortgage lending and residential development, which has helped Cass remain financially strong despite the recent economic downturn.
Cass (NASDAQ: CASS) is a publicly held bank holding company, and therefore is subject to regulation and examination by the SEC, Nasdaq, the Federal Reserve Bank and the Missouri Division of Finance relating to accounting standards and controls, disclosure requirements, corporate governance, safety and soundness.