PayLease today announced a strategic partnership with Cass Information Systems, Inc. (Cass). Cass, a leading provider of utility invoice payment and information services, helps companies gain more detailed visibility into complex payables. The partnership will enhance the existing PayLease Platform and provide multifamily property management companies with the most robust utility management and resident billing solution on the market today. As a result, multifamily operators will be able to gain more control and deeper insight into their utility spend, better monitor their portfolio’s energy consumption, and improve efficiency associated with Accounts Payable (AP) automation.
Cass helps some of the nation’s most successful companies manage complex expenses. Their Utility Expense Management solution automates payables on over 90 different types of invoices that property management companies usually incur. Cass has been in business for over 100 years and disburses over $60 billion annually on behalf of clients.
PayLease will utilize Cass’ expertise to broaden its Utility Expense Management and Resident Billing solutions. Using Utility Expense Management, multifamily property management companies can improve operational efficiencies and reduce utility costs by automating the utility AP process. PayLease’s Resident Billing solution helps multifamily properties recover their utility costs from residents, maximizing revenue, minimizing risk and increasing NOI for clients. Both services integrate with all major property management software platforms and are backed with award-winning customer service. PayLease is utilized by over 6,000 property management companies nationwide, representing 12.5 million apartment and HOA units.
“We’re excited to provide additional UEM and AP Automation options to our property management clients,” commented Dirk Wakeham, CEO at PayLease, “We linked our extensive Resident Billing and Payments expertise with Cass’s extensive information management and expense management experience to create the most comprehensive solution for cost management in the industry. Increasing operational efficiency and controlling costs are two of the key benefits we provide to help our clients improve their NOI. The cost and productivity savings from combining the PayLease and Cass solution will further strengthen that value proposition and support our property management clientele in achieving their goals.”
Gary Langfitt, President – Expense Management Services for Cass Information Systems, commented on the partnership saying, “We look forward to combining Cass’ two decades of experience providing the fastest, most accurate and most secure bill management to the multifamily market with PayLease’s industry-leading technology and services. We see our partnership transforming the utility management and billing experience for multifamily companies.”
PayLease provides online rent payments, billing, and utility expense management tools to HOAs and property management companies. Property managers use PayLease to offer their residents convenient online payment options and to improve their business’ operational efficiencies. Our solutions are easy-to-use and are backed with the highest levels of security and customer support. Since our inception in 2003, PayLease has grown to serve thousands of property management companies nationwide and is among the fastest-growing technology companies in the United States. For more information, please visit https://www.PayLease.com.
About Cass Information Systems
Cass Information Systems, Inc. (NASDAQ: CASS) is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing over $60 billion annually on behalf of clients, and with total assets of $1.6 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000®.