SOURCE: NWP Services Corp.

May 24, 2006 09:00 ET

NWP Services Corporation and Cass Information Systems Extend Exclusive Agreement to Provide Outsourced Utility Bill Payment and Information Services to Multi-Housing Industry

IRVINE, CA -- (MARKET WIRE) -- May 24, 2006 -- NWP Services Corporation (NWP) and Cass Information Systems Inc. (Cass), the leading national provider of utility, transportation and telecom invoice payment and information services, today announced they have extended their long-term agreement by which NWP will continue to serve as the exclusive direct provider of Cass outsourced utility bill payment and information services to the multi-housing industry.

Supported by Cass, NWP offers outsourced utility bill processing services to help lower cost, avoid late payment penalties and ease the administrative burden on property managers. NWP's outsourced utility processing solution integrates additional specialized services including utility bill review, audit and error resolution, data accumulation, utility bill imaging and subsequent image retrieval, invoice tracking, reporting and analysis and also drives the value-added services for vacant unit cost recovery and vacant unit management. NWP working with Cass has identified over $7,000,000 in utility cost savings opportunities for NWP customers through 2005.

As part of the terms of the new agreement, Cass and NWP have committed to expanded performance standards and service level guarantees and an enhanced inter-company electronic data exchange solution, all of which will enable NWP to offer faster invoice processing, increased data availability and even greater accuracy for NWP's Energy Information Services (EIS) customers.

"This agreement with Cass is indicative of NWP's commitment to partner only with those 'best of breed' proven leaders in their respective industries, and Cass is the undisputed leader in outsourced utility bill processing," said Michael Radice, president and CEO of NWP. "Our relationship with Cass enables us to offer the multi-housing industry significant advantages in utility cost control and utility information management," added Radice.

"When you look carefully at this market, there is no stronger offering than from the partnership of NWP and Cass," said Gary Langfitt, Chief Operating Officer of Cass Information Systems. "It is truly a powerful combination, delivering substantial savings to owners/managers of multi-family properties throughout the U.S."

About NWP Services Corporation

Headquartered in Irvine, Calif., NWP Services Corporation (NWP) serves the multi-housing industry as the leading provider of resident billing solutions, including convergent billing and payment services for rent, utilities and other charges from the resident's monthly ledger; utility cost management solutions including utility cost recovery, utility data management, and conservation and irrigation control services. 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 property NOI and boost resident satisfaction. NWP also provides the regulatory expertise, technology infrastructure and high quality training and support services which property owners and managers can rely upon to stay competitive and thrive in an ever-changing market. Additional information is available at www.nwpsc.com.

About Cass Information Systems

Cass Information Systems, with more than $800 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 2005, valued in excess of $16 billion, from processing centers in St. Louis, Mo., Columbus, Ohio, Boston, Mass. and Greenville, S.C. 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 Information
    For NWP Services Corporation
    David Collins
    949-253-2589
    Email Contact

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