SOURCE: NWP Services Corporation

November 15, 2007 11:55 ET

NWP Services Corporation and Cass Information Systems Renew Exclusive Service Agreement

NWP Offers Leading Utility Payables Process Management and Utility Theft Solutions to Multifamily Housing Industry

IRVINE, CA--(Marketwire - November 15, 2007) - NWP Services Corporation (NWP), the leading provider of billing, resident payment and utility management solutions to the multifamily housing industry, and Cass Information Systems Inc. (Cass), the leading national provider of utility, transportation and telecom invoice payment and information services, today announced they have renewed their long-term agreement. Under the agreement NWP will continue to serve as the exclusive direct provider of Cass' utility bill management and information services to the multifamily housing industry.

In response to the industry's demand for greater efficiency and to mitigate increasing energy and utility costs, NWP offers its technologically advanced utility payables process management service. This service provides the industry leading solution for back-office processing of utility bills sent to multifamily communities or property management companies. By managing the entire lifecycle of these invoices, typically dozens per apartment community each month, NWP removes the administrative burden from property management staff and significantly reduces or eliminates late payments, billing errors, service interruptions and overpayments.

In addition to controlling utility expenditures, leading industry studies show that outsourcing the management of utility payables decreases the cost of processing a payment -- often by more than 50%. The program offers a variety of enhanced utility cost-savings opportunities, including utility theft prevention, monitoring of usage in vacant units, utility budgeting/forecasting, utility tariff analysis, energy procurement services and web-based information tools.

In 2007 identified savings will far exceed $10 million for customers in utility theft and vacant management cost savings, a number expected to double in 2008. These proven, measured financial benefits make NWP's solution the preferred service among leading multifamily housing owners and managers.

"NWP continues to grow in size and in scope of offering as we respond to the needs of the multifamily housing industry, including back-office transaction automation," stated Michael Radice, CEO and president of NWP Services Corporation. "Our company is focused on offering quality services that help ensure our customers maintain and maximize their financial health, and our exclusive relationship with Cass enables us to deliver a best-of-breed solution to the multifamily marketplace," added Radice.

"This partnership continues to set the benchmark in terms of utility management offerings for the multifamily industry," comments Cass COO Gary Langfitt. "Year after year we find better ways to serve our clients, and our substantial growth is a direct reflection of that teamwork."

About NWP Services Corporation:

Headquartered in Irvine, California, NWP Services Corporation (NWP) serves the multifamily housing industry as the leading source of resident billing, resident payment and utility cost management solutions.

NWP is known for its industry expertise delivering proven results and exceptional quality. Resident billing by NWP helps property owners offset their utility expenses while allowing them to rely upon world-class regulatory compliance support and resident service. The company's billing options now include convergent-or "rent-inclusive"-billing through Resident OneBill™. NWP's newest offering, aBreeze™ Resident Payment Processing, enables residents to pay their rent, utilities and other monthly charges online or at the rental office with funds transferred to the bank electronically. aBreeze™ gives residents convenience and choice and enables owners to access cash faster. In addition, through a service called EIS+, NWP processes and pays bills sent to our customers' properties by utility companies. EIS+ helps customers reduce time spent on administrative bill payment work and provides them with valuable utility data and additional cost management opportunities, including recovering expenses from residents when they fail to transfer utilities into their own name.

NWP's offerings are available for use as individual services or as a fully integrated solution and are designed to accelerate the financial performance of our customers, allowing them to recover and reduce operating costs, create operational efficiencies, improve NOI and FFO and boost resident satisfaction. Additional information is available at www.nwpsc.com.

About Cass Information Systems:

Cass Information Systems, with more than $900 million in assets and 900 employees, is the leading provider of transportation, utility and telecom invoice payment and information services. The company, which has been involved in the payables services and information support business since 1956, processed more than 32 million bills in 2006, valued in excess of $20 billion, at processing centers in St. Louis, Mo., Columbus, Ohio, Boston, Mass., Greenville, S.C., and Wellington, KS. The support of Cass Commercial Bank, a Federal Reserve Member bank founded in 1906, makes Cass Information Systems unique in the industry. Additional information is available at www.cassinfo.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact

    For Cass Information Systems:
    Jason Woodward
    Vice President, Sales & Marketing
    614-839-4490
    Email Contact