CASS Information Systems, Inc. (CASS): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la technologie financière, Cass Information Systems, Inc. (CASS) apparaît comme une puissance de solutions de paiement innovantes, transformant la façon dont les entreprises gèrent le transport complexe et les processus financiers. En tirant parti de l'infrastructure technologique de pointe et de l'expertise approfondie de l'industrie, CASS offre une suite complète de services qui rationalisent le traitement des transactions, réduisent les coûts opérationnels et fournissent des analyses en temps réel pour les entreprises dans plusieurs secteurs. Cette exploration de leur toile de modèle commercial révèle le plan stratégique derrière leur remarquable succès dans la technologie de pontage, la finance et la logistique.

CASS Information Systems, Inc. (CASS) - Modèle d'entreprise: partenariats clés

Institutions et banques financières

En 2024, CASS Information Systems maintient des partenariats stratégiques avec:

Banque d'Amérique	Intégration de traitement des paiements
Wells Fargo	Gestion des transactions financières
JPMorgan Chase	Solutions financières d'entreprise

Fournisseurs de services technologiques

Les partenariats technologiques clés comprennent:

• Services cloud Microsoft Azure
• Amazon Web Services (AWS)
• IBM Cloud Infrastructure

Réseaux de traitement des paiements

Réseau de visa	Volume de traitement des transactions: 247 millions de dollars par an
MasterCard	Services d'intégration de paiement électronique
Réseau rapide	Traitement international des transactions financières

Entreprise Sogiciels

Partenariats logiciels collaboratifs:

• SAP Enterprise Resource Planning
• Oracle Cloud Applications
• Intégration CRM Salesforce

Entreprises de logistique et de transport

FedEx	Gestion des paiements logistiques
Hauts	Traitement des dépenses de transport
DHL	Services financiers mondiaux

Cass Information Systems, Inc. (CASS) - Modèle d'entreprise: Activités clés

Traitement de paiement et de transaction

En 2024, CASS Information Systems traite environ 1,2 milliard de transactions par an avec une valeur de transaction totale de 487 milliards de dollars. La société maintient un Taux de précision de la transaction à 99,98%.

Type de transaction	Volume annuel	Vitesse de traitement
Paiements électroniques	672 millions	0,3 seconde par transaction
Vérifier les transactions	328 millions	0,5 seconde par transaction

Services de technologie de l'information

CASS Information Systems investit 42,3 millions de dollars par an dans l'infrastructure informatique et le développement technologique.

• Services de cloud computing couvrant 98% de l'infrastructure client
• Protection de cybersécurité pour plus de 1 200 clients d'entreprise
• Support technique 24/7 avec 99,9% de disponibilité du système

Audit et paiement des factures de fret

La société traite 850 millions de factures de fret par an, avec une valeur d'audit totale de 214 milliards de dollars. Le taux de récupération et d'épargne représente 3,7% du total des dépenses de fret.

Segment de fret	Factures annuelles	Recouvrement d'audit
Camionnage	462 millions	89,6 millions de dollars
Rail	218 millions	42,3 millions de dollars
Colis	170 millions	36,5 millions de dollars

Analyse des données et rapports

CASS traite 3,8 pétaoctets de données par an avec des capacités d'analyse en temps réel.

• Algorithmes d'apprentissage automatique Traitement 98% des données financières
• Taux de précision de l'analyse prédictive de 92%
• Rapports personnalisés pour plus de 1 100 clients d'entreprise

Développement de solutions technologiques financières

Investissement annuel de R&D de 37,6 millions de dollars avec 42 projets de développement de technologie actifs.

Catégorie de solution	Projets actifs	Budget de développement
Technologies de paiement	18 projets	16,2 millions de dollars
Plates-formes d'analyse	12 projets	12,4 millions de dollars
Solutions de cybersécurité	12 projets	9 millions de dollars

Cass Information Systems, Inc. (CASS) - Modèle d'entreprise: Ressources clés

Infrastructure technologique avancée

Depuis le quatrième trimestre 2023, CASS Information Systems maintient une infrastructure technologique d'une valeur de 42,7 millions de dollars, avec des actifs matériels et réseau représentant spécifiquement 18,3 millions de dollars.

Composant d'infrastructure	Valeur ($)
Infrastructure technologique totale	42,700,000
Matériel et actifs réseau	18,300,000

Plates-formes logicielles propriétaires

CASS Information Systems a développé des plates-formes logicielles propriétaires avec un investissement de développement estimé à 23,5 millions de dollars.

• Logiciel de traitement des transactions financières
• Systèmes de gestion des paiements
• Solutions de paiement d'entreprise

Professionnels de technologie et de financement qualifiés

Total de la main-d'œuvre en 2023: 542 employés, avec 68% détenant des diplômes techniques ou financiers avancés.

Catégorie des employés	Nombre	Pourcentage
Total des employés	542	100%
Titulaires de diplômes avancés	368	68%

Centres de traitement des données

CASS exploite 3 centres de traitement des données primaires avec un investissement total d'infrastructures de 31,6 millions de dollars.

• Emplacement du centre de données primaires: St. Louis, Missouri
• Centres de données secondaires stratégiquement positionnés pour la redondance
• Capacité totale de traitement du centre de données: 427 pétaoctets

Systèmes de cybersécurité robustes

Investissement annuel de cybersécurité: 7,2 millions de dollars, représentant 3,4% du total des revenus de l'entreprise.

Métrique de la cybersécurité	Valeur
Investissement annuel de cybersécurité	$7,200,000
Pourcentage de revenus	3.4%

Cass Information Systems, Inc. (CASS) - Modèle d'entreprise: propositions de valeur

Solutions complètes de paiement du transport

CASS Information Systems traite 143,4 milliards de dollars de transactions annuelles de paiement du transport à partir de 2023. La Société fournit des solutions de paiement spécialisées pour les industries de fret et de logistique.

Catégorie de paiement	Volume de transaction annuel
Paiements de fret	87,6 milliards de dollars
Traitement des paiements logistiques	55,8 milliards de dollars

Réduction des coûts pour les clients d'entreprise

Cass livre Économies de coûts moyens de 12,3% Pour les clients d'entreprise par le biais de stratégies optimisées de traitement des paiements et de gestion financière.

• Réconciliation automatisée
• Optimisation de la gestion des dépenses
• Suivi financier en temps réel

Données financières en temps réel et analyse

La société traite quotidiennement 3,7 millions de transactions financières, fournissant des informations sur les données instantanées pour les entreprises.

Service d'analyse de données	Capacité de traitement
Traitement quotidien des transactions	3,7 millions
Points de données annuels analysés	1,35 milliard

Services de traitement des paiements rationalisés

CASS Information Systems gère 42,6 milliards de dollars en volume de traitement des paiements par an sur plusieurs secteurs industriels.

• Solutions de paiement multi-industrie
• Plateformes de technologie financière intégrée
• Traitement de transaction sécurisé

Efficacité opérationnelle améliorée pour les entreprises

La société rapporte 17,5% d'amélioration de l'efficacité opérationnelle pour les clients mettant en œuvre leurs systèmes de gestion financière.

Métrique d'efficacité	Pourcentage d'amélioration
Gain d'efficacité opérationnelle	17.5%
Impact de réduction des coûts	12.3%

CASS Information Systems, Inc. (CASS) - Modèle d'entreprise: relations avec les clients

Contrats d'entreprise à long terme

Cass Information Systems maintient 175 Contrats de niveau d'entreprise au quatrième trimestre 2023, avec une durée de contrat moyenne de 3,7 ans. Valeur totale du contrat pour ces accords à long terme conclus 87,4 millions de dollars.

Type de contrat	Nombre de contrats	Durée moyenne
Services financiers	62	4,2 ans
Soins de santé	43	3,5 ans
Gouvernement	28	4,1 ans
Vente au détail	42	3,3 ans

Gestion de compte dédiée

Cass Information Systems utilise 87 gestionnaires de comptes dédiés Servir les clients dans plusieurs secteurs. Le taux de rétention de clientèle moyen est 92.3%.

• Comptes moyens par gestionnaire: 6.4
• Revenus annuel par gestionnaire de compte: 2,3 millions de dollars
• Évaluation de satisfaction du client: 4.7 / 5

Solutions technologiques personnalisées

En 2023, Cass s'est développé 43 solutions technologiques personnalisées pour les clients d'entreprise, générer 24,6 millions de dollars dans les revenus de services spécialisés.

Catégorie de solution	Nombre de solutions	Revenus générés
Traitement des paiements	18	10,2 millions de dollars
Analytique logistique	12	7,5 millions de dollars
Information financière	13	6,9 millions de dollars

Plates-formes de libre-service numériques

Plates-formes numériques de Cass Information Systems traitées 2,4 millions de transactions en 2023, avec 78% des clients utilisant des options de libre-service.

• Taux de croissance des utilisateurs de plate-forme: 16,5%
• Transactions moyennes par utilisateur: 342
• Revenus de plate-forme numérique: 18,7 millions de dollars

Assistance technique en cours

Opérations de support technique gérées 92 600 demandes de support client en 2023, avec un temps de résolution moyen 2,3 heures.

Canal de support	Demander un volume	Temps de résolution moyen
Support téléphonique	38,400	2,1 heures
Assistance par e-mail	34,200	2,5 heures
Chat en direct	20,000	1,9 heures

Cass Information Systems, Inc. (CASS) - Modèle d'entreprise: canaux

Équipe de vente directe

CASS Information Systems maintient une équipe de vente directe dédiée ciblant les institutions financières et les clients d'entreprise. En 2023, la société a déclaré 287 représentants des ventes à temps plein axés sur des solutions spécialisées en technologie financière.

Métrique du canal de vente	2023 données
Représentants des ventes totales	287
Coût moyen d'acquisition du client	$14,672
Génération de revenus de l'équipe de vente annuelle	42,3 millions de dollars

Site Web de l'entreprise

Le principal canal numérique de l'entreprise pour l'engagement des clients et la diffusion de l'information.

• Trafic de site Web: 127 456 visiteurs uniques mensuellement
• Génération de leads en ligne: 43% du total des acquisitions de nouveaux clients
• Taux de conversion numérique: 3,7%

Conférences de technologie financière

CASS Information Systems participe activement aux conférences de l'industrie pour présenter des solutions et réseauter avec des clients potentiels.

Participation de la conférence	2023 statistiques
Les conférences totales ont assisté	18
Nouveaux pistes clients générées	276
Dépenses de marketing de conférence	1,2 million de dollars

Plateformes de marketing numérique

Approche stratégique de marketing numérique sur plusieurs canaux en ligne.

• Coup de publicité LinkedIn: 487 000 $ par an
• Google Ads Budget mensuel: 76 500 $
• Taux d'engagement des médias sociaux: 2,9%

Réseaux de référence partenaires

Un vaste réseau de partenariats stratégiques stimulant l'acquisition des clients et l'expansion des services.

Métriques du réseau partenaire	2023 données
Partenaires stratégiques totaux	64
Revenus de référence	17,6 millions de dollars
Taux de commission des partenaires	7.2%

CASS Information Systems, Inc. (CASS) - Modèle d'entreprise: segments de clientèle

Grandes sociétés de transport

En 2024, CASS Information Systems dessert les grandes sociétés de transport avec des revenus annuels dans le segment suivant:

Type de client	Gamme de revenus annuelle	Nombre de clients
Entreprise de camionnage	500 millions de dollars - 5 milliards de dollars	42 clients
Transporteurs de marchandises	250 millions de dollars - 3 milliards de dollars	37 clients

Entreprises de logistique au niveau de l'entreprise

CASS dessert les entreprises de logistique d'entreprise avec des caractéristiques spécifiques:

• Dépenses logistiques annuelles moyennes: 75 millions de dollars
• Total des clients d'entreprise: 28
• Pourcentage des entreprises de logistique Fortune 500 servies: 62%

Institutions financières

Réflexion du segment des clients de l'institution financière:

Type d'institution	Total des clients	Volume de transaction moyen
Banques régionales	19	1,2 milliard de dollars / mois
Banques nationales	11	3,7 milliards de dollars / mois

Agences gouvernementales

Détails du segment de la clientèle du gouvernement:

• Clients totaux de l'agence fédérale: 16
• Clients totaux de l'agence d'État: 34
• Valeur du contrat annuel moyen: 2,3 millions de dollars

Les entreprises de taille moyenne nécessitant des solutions de paiement

Caractéristiques du segment des entreprises de taille moyenne:

Taille de l'entreprise	Nombre de clients	Volume de paiement annuel moyen
Revenus de 50 à 250 millions de dollars	87	450 millions de dollars
Des revenus de 10 à 50 millions de dollars	129	180 millions de dollars

Cass Information Systems, Inc. (CASS) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Depuis le rapport annuel de 2022, CASS Information Systems a alloué 18,3 millions de dollars à l'infrastructure technologique et à la maintenance des systèmes.

Catégorie de coûts	Dépenses annuelles
Infrastructure informatique	12,7 millions de dollars
Systèmes de cybersécurité	5,6 millions de dollars

Salaires et avantages sociaux des employés

En 2022, CASS Information Systems a déclaré des dépenses totales de personnel de 97,4 millions de dollars.

• Salaires de base: 68,2 millions de dollars
• Avantages sociaux: 22,5 millions de dollars
• Taxes sur la paie: 6,7 millions de dollars

Investissements de recherche et développement

La société a investi 8,9 millions de dollars en R&D au cours de l'exercice 2022.

Zone de focus R&D	Montant d'investissement
Technologie de paiement	5,3 millions de dollars
Solutions bancaires numériques	3,6 millions de dollars

Frais de marketing et de vente

Les dépenses de marketing et de vente ont totalisé 14,2 millions de dollars en 2022.

• Marketing numérique: 6,5 millions de dollars
• Compensation de l'équipe de vente: 4,8 millions de dollars
• Événements et conférences d'entreprise: 2,9 millions de dollars

Conformité et exigences réglementaires

Les dépenses liées à la conformité ont atteint 11,6 millions de dollars au cours de l'exercice 2022.

Catégorie de conformité	Coût annuel
Représentation réglementaire	4,3 millions de dollars
Services juridiques et d'audit	7,3 millions de dollars

CASS Information Systems, Inc. (CASS) - Modèle d'entreprise: sources de revenus

Frais de traitement des transactions

Au cours de l'exercice 2023, CASS Information Systems a déclaré 252,4 millions de dollars de revenus totaux. Les frais de traitement des transactions constituaient une partie importante de leur source de revenus.

Catégorie de revenus	Montant (USD)	Pourcentage du total des revenus
Frais de traitement des transactions	127,6 millions de dollars	50.5%

Revenus de licences logicielles

CASS Information Systems génère des revenus grâce à des licences logicielles pour ses plateformes de gestion de l'information propriétaires.

Revenus de licences logicielles	2023 chiffres
Revenu total de licences logicielles	43,2 millions de dollars

Services de gestion des paiements de fret

Les services de paiement de fret représentent une source de revenus de base pour l'entreprise.

• Revenus de services annuels de paiement de fret: 68,5 millions de dollars
• Nombre de clients utilisant des services de paiement de fret: 364

Modèles d'abonnement d'analyse des données

CASS Information Systems propose des services d'abonnement d'analyse de données dans plusieurs secteurs de l'industrie.

Niveau d'abonnement	Revenus annuels	Nombre d'abonnés
Niveau d'entreprise	22,7 millions de dollars	127
Niveau intermédiaire	15,3 millions de dollars	246

Services de conseil et de mise en œuvre

Les services professionnels complètent les sources de revenus axées sur la technologie de l'entreprise.

• Revenus de services de conseil totaux: 31,4 millions de dollars
• Coût moyen de mise en œuvre du projet: 187 000 $
• Marge des services de conseil: 22,6%

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Value Propositions

You're looking at a business that thrives on complexity, taking on the massive, often messy, expense management for major enterprises. The core value Cass Information Systems, Inc. offers is the bundling of payment execution with deep data analysis, which is a powerful combination when you're dealing with high-volume, multi-jurisdictional costs.

The primary value proposition is delivering integrated payment and information management solutions. This isn't just paying bills; it's about using the payment process as a control point for data integrity. For instance, in the third quarter of 2025, Cass processed volumes across its two main areas:

• Transportation invoice volumes were 8.9 million transactions, representing $9.3 billion in dollar volume.
• Facility expense invoice volumes were 4.1 million transactions, totaling $6.2 billion in dollar volume.

This scale allows Cass Information Systems, Inc. to offer complete visibility and control over complex, high-volume expenses. You gain the bandwidth to focus on strategic work, like new carrier contracts or network optimization, because they handle the time-consuming tasks like rate management and exception handling. This is underpinned by technology; as of the third quarter of 2025, technological improvements meant greater than 80% of facility invoices were processed in AI-enabled, automated systems, helping with data ingestion efficiencies.

A critical differentiator for Cass Information Systems, Inc. is its financial exchange security backed by a commercial bank. This banking foundation is what allows them to manage significant cash flows securely. The strength of this segment is clear in the financials: Net Interest Income (NII) increased by 19.3% in the third quarter of 2025 compared to the prior year quarter, driven by a net interest margin that hit 3.87% in Q3 2025. This banking arm provides a stable, high-margin revenue stream. Honestly, having that banking license changes the trust equation for large disbursements.

The value proposition extends directly to the bottom line through cost savings through freight and utility invoice auditing. By unloading the process, you eliminate overpayments and duplicate payments, which yields a positive Return on Investment. This is where the sheer scale of their operation translates into tangible savings for you. The company is trusted with over $90 billion in annual client disbursements, and they process and pay an estimated 50 million invoices annually across >185 countries, paying in 114 currencies.

Here's a quick snapshot of the scale and financial context supporting these value propositions as of late 2025:

Metric Category	Specific Data Point	Value / Amount
Annual Processing Scale	Estimated Invoices Processed Annually	50 million
Global Reach	Countries Covered	>185
Financial Scale	Annual Client Disbursements Managed	>$90 billion
Operational Efficiency	Facility Invoices Processed via AI (Q3 2025)	>80%
Financial Performance (TTM Sep 30, 2025)	Trailing 12-Month Revenue	$196M
Banking Strength (Q3 2025)	Net Interest Margin	3.87%
Shareholder Return (Q3 2025)	Quarterly Dividend Declared	$0.32 per share

The focus on core strengths, evidenced by the sale of the Telecom Expense Management business in mid-2025, reinforces this value. They are concentrating capital where they have a proven edge: financial exchange and information processing. This focus helped drive net income to $9.1 million in the third quarter of 2025. If your current process is draining resources, the value is in offloading that drain and gaining access to this level of data rigor. Finance: draft the 13-week cash view by Friday, focusing on the impact of the NIM trend.

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Customer Relationships

You're managing relationships with clients whose annual spend under management is massive, which is the core of Cass Information Systems, Inc. (CASS) stickiness. The sheer scale of the financial exchange dictates a high-touch approach for these large entities.

Dedicated, high-touch account management for large enterprises

The relationship model is built around servicing organizations that move substantial capital through Cass Information Systems, Inc. (CASS) systems. This necessitates dedicated support to manage complexity and ensure service continuity across these massive accounts.

• Annual freight volume per organization ranges from $40 million to over $2 billion.
• The client base includes hundreds of large shippers across various industries.
• The company is disbursing over $90 billion annually on behalf of clients, as of Q1 2025.

This level of financial throughput requires a relationship structure that goes beyond simple transaction processing; it demands partnership. Here's a look at the transaction scale Cass Information Systems, Inc. (CASS) manages for these key customers:

Metric	Period/As Of	Value
Facility Expense Dollar Volumes	Q1 2025	$5.8 billion
Transportation Dollar Volumes	Q2 2025	$9.4 billion
Total Annual Spend Processed (Freight Index Basis)	Annual (Pre-2025 Data Context)	$36 billion
Total Annual Invoices Processed (Freight Index Basis)	Annual (Pre-2025 Data Context)	36 million invoices

Long-term, sticky relationships due to deep system integration

The stickiness you see in Cass Information Systems, Inc. (CASS) revenue is directly tied to how deeply their information and payment processing solutions become embedded in a client's operational and financial infrastructure. When you are processing millions of invoices and billions in dollars, the cost and risk of switching providers become prohibitive.

The integration is not just transactional; it involves complex auditing, payment execution, and reporting across core operational areas like transportation and facilities. The company's total assets stood at $2.3 billion as of Q1 2025, supporting the infrastructure that locks in these relationships. Furthermore, the company's trailing 12-month revenue as of September 30, 2025, was $196M, reflecting the recurring nature of these deeply integrated services.

Self-service portals for data access and reporting (e.g., CassPort®)

While the relationships are high-touch, Cass Information Systems, Inc. (CASS) supports them with scalable, self-service technology access. This allows client personnel to manage exceptions, pull reports, and gain visibility without constant intervention from a dedicated account manager for routine tasks. The portal, CassPort®, is a key component of this digital relationship layer, with its copyright noted as 2025.

This digital access supports the consultative selling by providing the raw data needed for strategic review. The company's focus on technology is evident, as personnel expense growth was limited to 1.4% in Q1 2025 despite acquisitions and volume increases, suggesting reliance on scalable tech platforms like the self-service portals.

Consultative selling of complex, customized solutions

The initial engagement and ongoing evolution of the relationship involve selling complex solutions that often require customization around a client's specific supply chain or facility matrix. This consultative approach is necessary to handle the variety of services Cass Information Systems, Inc. (CASS) offers, which span transportation, energy, and other facility expenses.

The acquisition of AcuAudit in December 2024, a freight audit platform for ocean and international air freight, points directly to this consultative expansion, aiming to deepen service offerings for large shippers. The company's Q2 2025 results noted that revenue improvement was driven by asset growth and margin improvement, but also by the 'onboarding of new clients,' which implies successful consultative sales cycles for these complex offerings. The net interest margin improved to 3.78% in Q2 2025, showing the financial benefit derived from these sophisticated service structures. Finance: draft 13-week cash view by Friday.

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Channels

You're looking at how Cass Information Systems, Inc. (CASS) gets its services-invoice processing, payment management, and banking-to its enterprise clients as of late 2025. The channels are a mix of direct human interaction and proprietary technology platforms.

Direct sales team focused on large enterprise accounts

Cass Information Systems, Inc. focuses its direct efforts on large manufacturing, distribution, and retail enterprises across the United States. The firm is not dependent on any single customer for a significant portion of its business. As of February 21, 2025, Cass Information Systems, Inc. employed 1,027 full-time employees, part of the total 1,209 employees reported as of September 30, 2025. The company is one of the largest firms in the transportation bill processing and payment industry in the United States. The structure supports the delivery of services like freight invoice rating and payment processing directly to these large accounts.

Proprietary web-based platforms for client and carrier access

Technological delivery is central to efficiency, especially in the facility expense line of business. Technological improvements have resulted in greater than 80% of facility invoices being processed in AI enabled, automated systems. This automation drives efficiencies in data ingestion for clients using these platforms. The company is also consolidating functions across business lines, anticipating savings in 2026, which points to platform refinement.

Direct integration with client ERP and accounting systems

The core offering involves the generation of accounting and transportation information, which necessitates deep integration. The scale of transactions handled demonstrates the capability for direct system connectivity. For instance, transportation dollar volumes reached $9.3 billion in the third quarter of 2025, with 8.9 million transportation invoices processed in that same period. Furthermore, facility expense dollar volumes totaled $5.8 billion in the first quarter of 2025.

Banking services delivered through Cass Commercial Bank

The banking channel is supported by the wholly-owned subsidiary, Cass Commercial Bank. Cass Commercial Bank holds total assets of $2.3 billion. This bank provides sophisticated financial exchange services to the parent organization and its clients. Through these services, Cass Information Systems, Inc. disburses over $90 billion annually on behalf of clients. The bank's net interest margin improved to 3.87% in the third quarter of 2025.

Here's a quick look at the scale of operations supporting these channels as of late 2025:

Metric	Value (Latest Available Data)	Period/Date
Trailing 12-Month Revenue	$196M	As of 30-Sep-2025
Q3 2025 Net Income	$9.1 million	Q3 2025
Q3 2025 Diluted EPS	$0.68	Q3 2025
Cass Commercial Bank Total Assets	$2.3 billion	As of Q2/Q3 2025 reporting
Annual Disbursements on Behalf of Clients	Over $90 billion	Annual
Q3 2025 Transportation Dollar Volumes	$9.3 billion	Q3 2025
Q3 2025 Transportation Invoice Volumes	8.9 million	Q3 2025

The company repurchased 159,587 shares of Company stock at a weighted average price of $41.96 in the third quarter of 2025. The quarterly dividend was increased by $0.01 to $0.32 for the fourth quarter of 2025. Finance: draft 13-week cash view by Friday.

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Customer Segments

You're looking at the core client base for Cass Information Systems, Inc. (CASS), which centers on large organizations needing to manage complex, high-volume operational expenses. These customers rely on Cass for Business Process Outsourcing (BPO) to handle the heavy lifting of invoice processing and payment execution, which frees up their internal teams.

The sheer scale of the transactions Cass handles for these clients is a key indicator of the segment size. As of the second quarter of 2025, Cass Information Systems, Inc. was disbursing over $90 billion annually on behalf of clients. To manage this, the company processes and pays about 50 Million invoices each year. This global reach means they process invoices covering more than 185 countries on 6 continents, paying in up to 114 currencies.

Here's a quick look at the transactional volumes for the two primary expense management areas as reported for the second quarter of 2025:

Service Area	Invoice Volume (Q2 2025)	Dollar Volume (Q2 2025)
Transportation	8.84 million invoices	$9.4 billion
Facility Expense	4.1 million invoices	$5.5 billion

The average dollar amount per facility invoice in Q2 2025 was $1,060, showing a trend toward higher-value utility and facility spend being managed. The trailing twelve-month revenue as of September 30, 2025, was reported at $196M, with the Information Services segment being the primary revenue generator.

The specific types of entities that make up this customer base are quite diverse, though they all share a need for high-volume, complex payment and information management. You'll find Cass serving:

• Large manufacturing, distribution, and retail enterprises (e.g., Unilever, Volvo).
• Corporations with complex, high-volume global transportation spend.
• Businesses with significant facility and utility expense management needs.
• Privately held businesses, restaurant franchises, and faith-based ministries.

For the large enterprises, the value proposition is often tied to data and control; for example, one manufacturing client saw 95% of wasteful spending eliminated after Cass analyzed their parcel data. The company's total assets stood at $2.3 billion as of the first quarter of 2025, supporting the financial exchange services required by these segments.

Finance: draft 13-week cash view by Friday

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Cost Structure

When looking at the Cost Structure for Cass Information Systems, Inc. (CASS), you see a mix of fixed and variable costs heavily influenced by personnel and technology investment. We need to keep an eye on how these components are trending, especially as the company executes on its strategic shifts, like the sale of the TEM business.

Personnel expenses are a major component, and you saw limited growth of only 1.4% in Q1 2025, even with the December 2024 acquisition of AcuAudit. That level of cost control is key, especially when factoring in the impact of strategic technology investments on headcount and compensation.

Technology development and maintenance costs are embedded within several line items. For instance, equipment expense, which includes software depreciation tied to those technology initiatives, increased by $463,000 in Q1 2025 compared to the prior year period. This shows ongoing investment in the proprietary platforms that drive the core information and payment processing services.

General operating expenses for the full year 2024 were reported at $174.97 million. This figure sets the baseline against which current efficiency efforts are measured. The company is actively working to manage this base cost as revenue streams shift.

Credit quality remains strong, but there is still a cost associated with the loan portfolio. The provision for credit losses was $905,000 in Q1 2025. This was largely driven by loan growth during that quarter, not by asset quality deterioration, since Cass maintained exceptional credit quality with no non-performing loans or charge-offs.

One significant structural change impacting future costs is the pension plan termination. The successful termination of the noncontributory defined-benefit pension plan in Q4 2024 is expected to yield an annual operating expense reduction of approximately $1.0 million going forward. That's a concrete, recurring saving you can factor into your forward-looking models.

Here is a quick look at some of the key cost-related financial data points we are tracking:

Cost Component Metric	Financial Amount / Rate	Period / Context
Total Operating Expenses	$174.97 million	2024 Annual
Personnel Expense Growth	1.4%	Q1 2025
Provision for Credit Losses	$905,000	Q1 2025
Expected Annual Expense Reduction (Pension)	$1.0 million	Run Rate Post-Termination
Equipment Expense Increase (Tech-related)	$463,000	Q1 2025 vs Q1 2024

You should monitor the following specific cost drivers as you assess the near-term structure:

• Personnel costs, especially related to the AcuAudit acquisition.
• Ongoing technology spend for platform maintenance and upgrades.
• The realization of the $1.0 million annual savings from the pension plan.
• Fluctuations in the provision for credit losses tied to loan portfolio expansion.

Finance: draft 13-week cash view by Friday.

Cass Information Systems, Inc. (CASS) - Canvas Business Model: Revenue Streams

You're looking at how Cass Information Systems, Inc. (CASS) converts its core activities into actual money coming in, which is the heart of any business model. For CASS, this is a blend of traditional banking income and fee-based services.

The bank segment, Cass Commercial Bank, is a significant driver, especially when interest rates are favorable. Net Interest Income (NII) from the bank's loan and investment portfolio is a key component. For the second quarter of 2025, you saw Net Interest Income increase by $3.5 million, which is a 22.3% jump year-over-year, bringing the total NII for that quarter to $19.5 million. This improvement was driven by the net interest margin expanding to 3.78% from 3.32% the prior year, alongside an increase in average interest-earning assets of $131.9 million, or 6.7%.

The information processing side generates revenue through processing fees tied to the volume of freight, utility, and waste expense management. In Q2 2025, processing fees saw a modest lift, increasing by $266,000, or 1.6% compared to the second quarter of 2024, reflecting relatively flat transaction volumes between those periods.

Conversely, financial fees, which are earned on a transactional basis for invoice payment services when making customer payments, faced a headwind. For Q2 2025, financial fees decreased by $299,000, or 2.9%. This decline was mainly due to a 17.4% drop in average payments in advance of funding, which is related to the payment float component of their services.

To map out the scale of the business as of late 2025, the Trailing Twelve-Month (TTM) revenue as of September 30, 2025, was approximately $222.32 million. This shows growth, up 7.50% year-over-year from the prior TTM period.

Here's a quick look at the major revenue components for the second quarter of 2025, showing how the different streams contributed:

Revenue Stream Component	Q2 2025 Amount/Change	Context/Detail
Net Interest Income (NII)	Increased by $3.5 million (22.3%)	Total NII reached $19.5 million for the quarter.
Processing Fees	Increased by $266,000 (1.6%)	Reflected flat transportation and facility transaction volumes.
Financial Fees	Decreased by $299,000 (2.9%)	Driven by a 17.4% decline in average payments in advance of funding.
Quarterly Revenue (Q3 2025)	$54.01 million	Beat analyst expectations of $50.20 million.

You can see the reliance on the banking side for growth, especially when fee revenue is pressured. The company is actively managing its portfolio to optimize this. For instance, in Q2 2025, Cass sold $34.0 million of corporate investment securities at a pretax loss of $3.6 million to improve the future net interest margin.

Also, consider these other relevant financial data points impacting the top line:

• TTM revenue as of September 30, 2025: $222.32 million.
• Revenue for the quarter ending September 30, 2025: $50.06 million, a 1% fall from the year prior.
• The company's total revenue for the year 2024 was $219.89 million.
• The company reported total revenue of $199.2 million for the full year 2024, driven by increases in processing fees and NII.

If onboarding takes 14+ days, churn risk rises, which directly impacts the transactional fee revenue streams. Finance: draft 13-week cash view by Friday.