Cass Information Systems CEO Discusses Invoice Fraud and Payment Issues on Today's Marketplace
Cass Information Systems (NASDAQ: CASS) CEO Martin Resch and Creighton University's Dean Anthony R. Hendrickson appeared on Today's Marketplace to discuss invoice fraud and payment security issues. The interview highlighted that approximately 80% of businesses face significant invoice fraud affecting their bottom line.
Resch explained how Cass, operating as a bank, processes millions of 'non-PO' invoices globally, including utility bills and freight invoices, using AI-powered control structures to verify invoice legitimacy and accuracy. The company specializes in handling contract-based invoices that fall outside traditional purchase order systems.
Dean Hendrickson emphasized the evolving landscape of financial education, noting the importance of combining traditional financial skills with technical knowledge in areas like blockchain, AI, machine learning, and analytics through their FinTech major program to prepare students for modern financial roles.
Cass Information Systems (NASDAQ: CASS) CEO Martin Resch e il Decano della Creighton University Anthony R. Hendrickson sono stati ospiti di Today's Marketplace per discutere della frode nelle fatture e delle problematiche legate alla sicurezza dei pagamenti. L'intervista ha messo in evidenza che circa l'80% delle aziende affronta significative frodi nelle fatture che influenzano i loro profitti.
Resch ha spiegato come Cass, operando come una banca, elabori milioni di fatture 'non-PO' a livello globale, comprese le bollette e le fatture di trasporto, utilizzando strutture di controllo alimentate dall'IA per verificare la legittimità e l'accuratezza delle fatture. L'azienda è specializzata nella gestione di fatture basate su contratti che non rientrano nei tradizionali sistemi di ordini di acquisto.
Il Decano Hendrickson ha sottolineato il panorama in evoluzione dell'educazione finanziaria, notando l'importanza di combinare competenze finanziarie tradizionali con conoscenze tecniche in aree come blockchain, IA, apprendimento automatico e analisi attraverso il loro programma di major in FinTech per preparare gli studenti ai ruoli finanziari moderni.
Cass Information Systems (NASDAQ: CASS) CEO Martin Resch y el Decano de la Universidad de Creighton, Anthony R. Hendrickson, aparecieron en Today's Marketplace para discutir sobre el fraude en facturas y los problemas de seguridad de pagos. La entrevista destacó que aproximadamente el 80% de las empresas enfrenta un fraude significativo en las facturas que afecta su rentabilidad.
Resch explicó cómo Cass, operando como un banco, procesa millones de facturas 'no-PO' a nivel global, incluidas las facturas de servicios públicos y de flete, utilizando estructuras de control impulsadas por IA para verificar la legitimidad y precisión de las facturas. La empresa se especializa en manejar facturas basadas en contratos que caen fuera de los sistemas tradicionales de órdenes de compra.
El Decano Hendrickson enfatizó el panorama en evolución de la educación financiera, señalando la importancia de combinar habilidades financieras tradicionales con conocimiento técnico en áreas como blockchain, IA, aprendizaje automático y análisis a través de su programa de especialización en FinTech para preparar a los estudiantes para los roles financieros modernos.
Cass Information Systems (NASDAQ: CASS)의 CEO Martin Resch와 Creighton University의 학장 Anthony R. Hendrickson이 Today's Marketplace에 출연하여 송장 사기 및 결제 보안 문제에 대해 논의했습니다. 인터뷰에서는 약 80%의 기업이 수익에 영향을 미치는 중대한 송장 사기를 겪고 있다는 점이 강조되었습니다.
Resch는 Cass가 은행으로 운영되면서 전 세계적으로 수백만 개의 '비PO' 송장을 처리하며, 공공요금 청구서 및 화물 송장을 포함하여 AI 기반의 제어 구조를 사용하여 송장의 합법성과 정확성을 검증한다고 설명했습니다. 이 회사는 전통적인 구매 주문 시스템에 포함되지 않는 계약 기반 송장을 처리하는 데 전문화되어 있습니다.
학장 Hendrickson은 금융 교육의 진화하는 풍경을 강조하며, 블록체인, AI, 머신러닝 및 분석과 같은 분야에서 전통적인 금융 기술과 기술 지식을 결합하는 것의 중요성을 언급하며 FinTech 전공 프로그램을 통해 학생들이 현대 금융 역할에 대비할 수 있도록 하고 있습니다.
Cass Information Systems (NASDAQ: CASS) PDG Martin Resch et le Doyen de l'Université de Creighton, Anthony R. Hendrickson, sont apparus dans Today's Marketplace pour discuter de la fraude sur les factures et des problèmes de sécurité des paiements. L'interview a souligné que environ 80% des entreprises sont confrontées à des fraudes sur les factures qui affectent leur rentabilité.
Resch a expliqué comment Cass, agissant en tant que banque, traite des millions de factures 'non-PO' à l'échelle mondiale, y compris des factures de services publics et des factures de fret, en utilisant des structures de contrôle alimentées par l'IA pour vérifier la légitimité et l'exactitude des factures. L'entreprise est spécialisée dans la gestion des factures basées sur des contrats qui ne relèvent pas des systèmes traditionnels de commandes d'achat.
Le Doyen Hendrickson a souligné le paysage en évolution de l'éducation financière, notant l'importance de combiner des compétences financières traditionnelles avec des connaissances techniques dans des domaines tels que blockchain, IA, apprentissage automatique et analytique à travers leur programme majeur en FinTech pour préparer les étudiants aux rôles financiers modernes.
Cass Information Systems (NASDAQ: CASS) CEO Martin Resch und der Dekan der Creighton University, Anthony R. Hendrickson, erschienen in Today's Marketplace, um über Rechnungsbetrug und Zahlungssicherheitsprobleme zu sprechen. Das Interview hob hervor, dass ungefähr 80% der Unternehmen mit erheblichen Rechnungsbetrug konfrontiert sind, was sich negativ auf ihre Bilanz auswirkt.
Resch erklärte, wie Cass, das als Bank fungiert, weltweit Millionen von 'Nicht-PO'-Rechnungen verarbeitet, einschließlich Versorgungsrechnungen und Frachtrechnungen, indem KI-gesteuerte Kontrollstrukturen verwendet werden, um die Legitimität und Genauigkeit der Rechnungen zu überprüfen. Das Unternehmen ist auf die Bearbeitung von vertragsbasierten Rechnungen spezialisiert, die außerhalb traditioneller Bestellsysteme fallen.
Dekan Hendrickson betonte die sich entwickelnde Landschaft der Finanzbildung und wies auf die Bedeutung hin, traditionelle Finanzkompetenzen mit technischem Wissen in Bereichen wie Blockchain, KI, maschinelles Lernen und Analytik zu kombinieren, um die Studierenden auf moderne Finanzrollen vorzubereiten.
- Company leverages AI technology for fraud prevention in invoice processing
- Established presence in processing millions of invoices worldwide
- Operating as a bank provides competitive advantage in payment processing
- None.
The full interview can be viewed online.
"When we think about AP processing, invoice processing, there are basically two ways that it works: either a purchase order has been initiated, or an invoice for goods or services simply arrives," Resch told King. "The PO provides rigid protections upfront, but for those invoices that you can't PO, you have to have a different control process, and that is where Cass Information Systems comes in."
Resch went on to explain how Cass, which is a bank, processes millions of those "non-PO" invoices worldwide -- utility bills, freight invoices, anything that is contract-based -- using a sophisticated control structure that leverages AI to make sure the invoice is legitimate and accurate before it is processed.
Dean Hendrickson explained to King how AI-based financial processing solutions like those used by Cass are meeting new challenges and creating new opportunities for business students wishing to enter the world of finance.
"It's important as we prepare students for roles at firms like Cass that they are not just learning finance, they are going to have to acquire some technical skills as well. We have a FinTech major where students are learning about blockchain, AI, machine learning, analytics -- all those tools you are going to need in addition to those traditional financial and accounting skills because invoice processing and all of those transactions are now fully automated."
Approximately
TMP's interviews cover important business topics and solutions with insights from academic experts and business leaders. "TMP is a great resource for busy executives to get quick updates about high-quality businesses, directly from the leaders of those organizations. I feel honored to have been invited," said Resch following the interview.
About Cass Information Systems
Cass Information Systems, Inc. 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
About Creighton University, Heider College of Business
Creighton University is a Jesuit University located in
About Today's Marketplace
Today's Marketplace (TMP) is a series of C-Suite interviews filmed at the prestigious New York Stock Exchange (NYSE) and the NASDAQ MarketSite studio for earned media distribution. TMP's multi-channel distribution provides robust authoritative and credible media exposure to under-reported stories. Visit TMP at todaysmarketplace.tv.
Media Contact: Diane Rygh, producers@cmghd.com
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FAQ
What percentage of businesses are affected by invoice fraud according to the CASS CEO interview?
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What types of invoices does CASS Information Systems primarily process?
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