Cortex Business Solutions Inc.
TSX VENTURE : CBX

Cortex Business Solutions Inc.

September 20, 2016 08:30 ET

Cortex Announces Sales Strategy for Fiscal 2017

CALGARY, ALBERTA--(Marketwired - Sept. 20, 2016) - Cortex Business Solutions (TSX VENTURE:CBX), a Network-as-a-Service e-invoicing solutions provider, is pleased to provide an update on the Sales Strategy and Initiatives underway for fiscal 2017.

F2016 was a year of stabilization within the organization with a renewed emphasis on growth. As a result, the Company has made the decision for F2017 to invest in three dedicated sales teams; an increase of six additional sales staff over the upcoming 6 months. The increase in the sales team will result in additional salaries and travel costs in our sales and marketing line item on the financial statements. This investment will allow the timely and aggressive follow up of leads in our growing pipeline.

"In F2016 the mandate was clear; bring expenses in line with revenue without sacrificing levels of service and support to our customers. Simply put, we were asked to maintain a level of business with fewer resources and we did it. We improved our processes, internal systems, and reorganized many of our sales, account management, delivery and support functions into smaller, matrix-based teams. These changes, in combination with our recent competitive wins, sales pipeline and hiring plan for senior, accomplished sales, presales and business development professionals make for an exciting F2017" said John Gilkison, VP, Sales & Business Development for Cortex.

"Over the past 14 months the Company focused on ensuring the baseline cost structure was aligned to the size of the Company," said Sandra Fawcett, CFO at Cortex. "To achieve the three year growth targets laid out by our management team, additional strategic sales resources were added to meet demand in the marketplace for our service offerings. Management is excited about the next stage for Cortex and remains committed to add costs only as a means to generating revenue."

About Cortex Business Solutions

Cortex Business Solutions Inc. (TSX VENTURE:CBX) is a business-to-business network that enables electronic invoicing for buying and supplying organizations. The Cortex network offers flexible connection methods to reduce the time required to process invoices and tools that leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses.

For more information, please visit www.cortex.net.

Contact Information

  • Investor Relations Contacts:
    Cortex Business Solutions Inc.
    Joel Leetzow
    President and CEO
    403-219-2838
    jleetzow@cortex.net

    Cortex Business Solutions Inc.
    Sandra Fawcett (formerly Weiler)
    CFO
    403-219-2838
    sfawcett@cortex.net

    Cortex Business Solutions Inc.
    Andrew Stewart
    Director, Marketing & Investor Relations
    403-219-2838
    astewart@cortex.net