Cass Information Systems Launches ``Ratemaker,'' New Web-Enabled Service: Ford Motor Company Signs On.Business & Transportation Editors ST. LOUIS--(BUSINESS WIRE)--April 24, 2001 Cass Information Systems (CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S )(Nasdaq:CASS), Inc. the market leader in providing electronic processing, rating, payment and information analysis of freight and utility payables, has launched a new web-enabled freight rating service, Ratemaker(R). Ford Motor Company recently contracted to begin using Ratemaker(R) to support its transportation procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. systems and global logistics operations. "We are pleased that Ford Motor Company selected our Ratemaker(R) offering," said John F. Pickering, CIS chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Our application service provider model allows us to make our rating engine technology immediately available to Ford's secure networks." Terms of the agreement were not disclosed. Operating under the industry's premier freight rating engine, Ratemaker(R) supports all modes of domestic and international transportation including complex geographical and mileage exceptions. It is a hosted application that securely stores, maintains and retrieves all client-negotiated carrier freight rates Noun 1. freight rate - the charge for transporting something by common carrier; "we pay the freight"; "the freight rate is usually cheaper" freightage, freight . The service also allows the user to find the most economical freight carrier in a given traffic lane using its Best Rate(R) feature. "Our proven rating technology is the key to Ratemaker(R)," added Jim Dwyer For other uses, see Jim Dwyer (disambiguation). Jim Dwyer (born March 4, 1957 in New York City) is an American journalist who is a reporter and columnist with The New York Times. , vice president of Ratemaker(R). "In all likelihood, companies that currently route service without knowing all available rates are paying more than they need to pay. They stand to save significant dollars by using our service." "Ratemaker(R) is the culmination of a $15 million investment made by CIS over the past 25 years in developing freight rating applications for shippers and carriers. The program is available to any company seeking an Internet-accessible rate database. Certain matters set forth in this news release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. For a discussion of certain factors that may cause such forward-looking statements to differ materially from the company's actual results, see the company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2000. |
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