Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

June 18, 2013 10:00 ET

Cortex Announces Partnership With Coupa Software

e-Invoice and spend management leaders join forces to expand depth of offering

CALGARY, ALBERTA--(Marketwired - June 18, 2013) - Cortex Business Solutions (TSX VENTURE:CBX), an e-invoicing and e-billing leader, has partnered with Coupa Software, the industry leader in spend management solutions, to bring new finance applications and capabilities to customers worldwide.

Cortex, a Calgary based company with offices in Houston, Denver and Toronto, provides companies with an industry leading e-Invoicing platform, simple supplier on-boarding process and best-in-class post-implementation support. Cortex is a leader in the provision of e-invoicing and e-billing services and tools that facilitate invoice delivery. Coupa Software, based in San Mateo, CA, is the leading provider of cloud-based spend management solutions. More than 300 customers in over 40 countries use Coupa's suite of cloud applications to reduce costs and increase control of their spend.

This new strategic partnership provides Cortex and Coupa customers combined best-in-class solutions that increase AP efficiency, eliminate paper documents, and reduce costs through source to pay and expenses automation.

"Cortex is pleased to partner with Coupa Software as we continue to increase the breadth of best of breed functionality offered through the Cortex platform," said Mike Rose, Cortex Vice President of Business Development. "Cortex's leading invoicing platform and supplier network services combined with Coupa's best-in-class spend optimization solutions will provide new and existing customer's expanded end-to-end procure-to-pay capability. We are particularly pleased that Cortex is recognized as the leading accounts payable automation network in our verticals and that by leveraging our solutions partners can immediately increase the value of their solutions."

Under this agreement, Coupa Software will interface to Cortex's network to offer enhanced invoicing capabilities, especially associated with complex services. Cortex will connect their platform through the Cortex Trading Partner Network (CTPN) to Coupa's suite of cloud applications. Current and potential Coupa customers will benefit from the partnership by taking advantage of the breadth of the Cortex network and utilizing Cortex's expertise and experience in the Oil and Gas, Construction, Utilities, and Mining industries.

"We share a common vision of customer success," said Roger Goulart, Vice President of Business Development at Coupa. "Partnering with Cortex brings our customers new rich offerings like the Cortex Trading Partner Network. Plus it allows us to extend our leading cloud solution to companies in new markets like oil and gas, and mining. It's a win-win for everyone."

About Cortex Business Solutions

Cortex Business Solutions Inc. is an Enterprise eProcurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. Accessing the Cortex 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 clients' existing business environment.

About Coupa Software

Founded in 2006, Coupa Software is the leading provider of cloud-based spend management software. More than 300 customers in 40 countries use the Coupa suite of cloud applications to amplify their spend power and reduce spending costs up to 11 percent. Only Coupa provides a true suite of cloud applications for finance, including procurement, expense management and accounts payable that enables customers to launch the solution immediately and quickly realize significant savings. Learn more at: or call 650.931.3200. Read more at our company blog, Making Cents, or follow @Coupa on Twitter.

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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