Cass Acquires Environmental Cost Management Company to Extend Service Leadership
ST. LOUIS, MO -- (MARKET WIRE) -- 01/09/12 -- Cass Information Systems Inc . (NASDAQ: CASS), a leader in back office BPO solutions for complex payables, has acquired Waste Reduction Consultants, Inc., one of the fastest-growing providers of environmental expense management services. The acquisition extends Cass' portfolio of services for controlling facility-related expenses and accelerates Cass' leadership position as a back-office business processor.
Waste Reduction Consultants serves multi-location businesses by reducing operating costs through information-driven optimization and procurement of waste removal services. By automating the auditing and processing of waste invoices, and managing the dispatch of on-demand hauling, valuable business intelligence is generated that supports proactive expense management.
CEO Bryce Kaspar, who founded Waste Reduction Consultants in 1999, will join Cass and continue to manage the operations based in Jacksonville, FL. "Our team is thrilled to join with Cass and leverage our combined strengths in the marketplace. The integration of our robust waste expense management platform with Cass's industry leading business process outsourcing backbone positions us to continuously enhance our value proposition," Kaspar noted.
"The addition of Waste Reduction Consultants is exciting for us. Waste Reduction Consultants has a national footprint with leading multi-family real estate owners and long-term healthcare providers, and brings a formidable team and replicatable business process that will allow us to expand our current portfolio of services. We see a strong demand for these services as companies formulate new sustainability and recycling initiatives, and continue to seek out business partners with a proven track record of driving down costs," commented Gary Langfitt, COO, Cass.
Cass possesses business process expertise surrounding the processing of complex payables, those expenses characterized by complex rate structures and error-prone invoices. Its automated invoice management processes for freight, utility and telecom expenses enable the development of discrete business intelligence platforms and analytic tools that can be leveraged for procurement and optimization of services. The acquisition of Waste Reduction Consultants adds yet another core service to the industry-leading product suite.
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 $27 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®. More information is available at http://www.cassinfo.com.
Contact: Jackie J. Engel 314-506-5976
Source: Cass Information Systems (CASS)