Cass Information Systems Enhances Government Services with New Contract
New Horizons for Cass Information Systems
Cass Information Systems, Inc. (NASDAQ: CASS) has recently taken a significant step forward by securing a Multiple Award Schedule contract with the General Services Administration (GSA). This new contract allows the company to extend its cutting-edge freight audit and payment services to federal and governmental entities.
Streamlining Government Operations
The GSA contract provides a streamlined framework for agencies to engage with Cass, facilitating the efficient procurement of logistics and payment services tailored for transportation engagements. Notably, this pre-approved agreement simplifies the often complex bidding and contractual processes that agencies face when looking for reliable service providers.
Enhancing Payment Solutions
Cass is not just any provider; they processed a whopping $90 billion in payables in the past year, showcasing their capacity to handle significant financial flows. Within this impressive figure, $38 billion pertained specifically to transportation. This expertise in managing large-scale transportation costs positions Cass as an essential partner for government agencies requiring robust financial management.
Maximizing Efficiency and Control
Mark Campbell, the president of the Cass Government Payables group, emphasized the host of benefits that government agencies stand to gain by adopting these services. The contract presents a system that not only enhances financial control and visibility into spending but also significantly automates the invoice-to-payment cycle. He noted that adopting Cass’s services leads to improved cash flow for both government entities and their transportation service providers.
About Cass Information Systems
Cass Information Systems has long been recognized as a leader in integrated information and payment management solutions. With a commitment to enhancing visibility, control, and efficiency within various operational frameworks, Cass services clients with an annual disbursement exceeding $90 billion. Supported by Cass Commercial Bank, their financial expertise strengthens the innovative services they provide.
Founded in 1906, Cass has established a legacy of reliability and comprehensive service. Their unique position within the Russell 2000® underlines their commitment to providing top-tier financial solutions, making them a vital asset for companies navigating the complexities of financial management.
Frequently Asked Questions
What is the purpose of the GSA contract?
The GSA contract allows Cass Information Systems to provide freight audit and payment services efficiently to government agencies.
How much did Cass process in payables recently?
Cass processed $90 billion in payables in the most recent year, with $38 billion specifically in transportation payables.
How does this contract benefit government agencies?
Government agencies can streamline their procurement process, enhance financial control, improve cash flow, and automate payment processes.
What is the history of Cass Information Systems?
Cass Information Systems has been a leading provider of financial solutions since it was founded in 1906, with a focus on integrated payment management.
What does Cass Commercial Bank provide to Cass?
Cass Commercial Bank offers sophisticated financial exchange services that support Cass Information Systems in delivering quality services to clients.
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