Cass to Benefit From Shipping Slump

The shipping industry is being pinched from lower consumer spending. Companies implementing cost-cutting plans will look to Cass Information Systems (CASS Quote) and its rivals to analyze and audit freight payment, hoping to save money.

TheStreet.com Ratings gives Cass a "buy." St. Louis-based Cass, whose roots date back to 1906, provides payment and information processing services to companies across the U.S. The company uses proprietary software to simplify operations and reduce costs. It also offers freight invoice rating, payment processing for utility- and facility-related expenses, and commercial-banking services.

Those services are in demand as companies, particularly shippers, seek to cut costs amid an economic recession. Larger supply-chain management firms offer broad and expensive consulting projects, while Cass provides specific services and immediate savings. ...