Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

March 24, 2009 15:00 ET

Cortex Announces Achievement of Key Milestone

CALGARY, ALBERTA--(Marketwire - March 24, 2009) -


Cortex Business Solutions Inc. (TSX VENTURE:CBX) ("Cortex" or the "Company") is pleased to announce that in less than five months, they have tripled the number of customers connected to the Cortex Trading Partner Network to over a thousand achieving a key milestone for the company. In addition, the company is pleased to announce the expansion of the previously announced project with one of Canada's top five integrated Oil & Gas companies to now onboard all its suppliers in all business units across Canada. As a result of the expansion of this project, Cortex will experience an accelerated expansion of their Network.

Customers currently using Cortex have experienced numerous benefits including; payment on contract terms, prompt review and approval of service tickets and invoices, lower administrative costs, improved transparency and greater certainty of receivables collection. In the end, the suppliers improve their cash flow using one simple, consistent and efficient solution. Cortex has clients ranging from large multi-national organizations to smaller entrepreneurial suppliers. Some examples of such suppliers connected to the Network include NewAlta, Acklands- Granger, Syntech, and CCS.

As the Cortex Network expands, the value proposition and ROI for other buying organizations increases substantially allowing potential customers to connect to over a thousand suppliers through a low cost, non intrusive connection. By connecting to Cortex, customers leverage their internal systems to automate their supply chain and achieve operational efficiencies, costs savings and improve business controls throughout their organization.

For suppliers to become a part of the Cortex Trading Partner Network, the Company offers two distinct service solutions: Cortex Desktop & Integration. For small to medium entrepreneurial type companies the Desktop solution presents an easy to use interface that allows a business to communicate directly with their customers, exchanging and tracking procurement and invoicing documents. The Integration solution directly insulates a company's software and accounting systems, allowing businesses to transfer documents while leveraging their internal technology infrastructure consequently, eliminating the need for multiple billing and/or receiving processes. By connecting to the Cortex Network suppliers experience a reduction in accounts receivables, administration costs and an increase in cashflow through a low cost, high ROI solution.

Together with the Company's partnerships with TELUS Communications, Research In Motion & Powervision, Cortex has expanded its sales and distribution capabilities to accelerate sales to both buyers and suppliers in any industry.

Why join the Cortex Trading Partner Network:

- Access all trading partners through one connection

- Exchange business critical documents such as purchase orders, work receipts and invoices, seamlessly utilizing your internal enterprise or accounting software - insulating your firm from your trading partner required document formats

- Increase the visibility along your procurement and invoicing process - know exactly the status of your documents at any time

- Reduce you days sales/payable outstanding

Information on or how to join the Cortex Trading Partner Network, please contact a Cortex sales representative at 1-866-716-6272, option #2.

About Cortex Business Solutions Inc.

Cortex Business Solutions Inc. is an industry leading service company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. Accessing the Cortex Trading Partner Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices resulting in improved cash flow management and business controls, while reducing day's outstanding and administrative costs. Cortex is a low cost, low risk solution that can be implemented quickly by leveraging its customers' existing business environment.

Cortex products and services are non-intrusive and allow our customers the freedom to leverage and optimize their existing processes and information technology assets when it makes the best business sense for them. This approach improves the productivity, cash flow and profitability of our customers, while avoiding the risk and delays associated with large information technology or business processes re-engineering initiatives.

For more information please visit our website at

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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