Cortex Business Solutions Inc.
TSX VENTURE : CBX

Cortex Business Solutions Inc.

October 05, 2011 13:00 ET

Cortex Made the List on Software Magazine's 2011 Annual Software 500

Cortex ranked #1 among companies under $10 million

CALGARY, ALBERTA--(Marketwire - Oct. 5, 2011) - Cortex Business Solutions Inc. (TSX VENTURE:CBX), an eProcurement solutions and service provider, today announced its inclusion in Software Magazine's Software 500 ranking of the world's largest software and service providers, now in its 29th year.

Cortex was ranked 491, with total software/services revenue of $4.1 million in 2010. However, among companies in the under $10 million revenue category Cortex is the leader, according to John P. Desmond, editor of Software Magazine and Softwaremag.com.

The Software 500 is a revenue-based ranking of the world's largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers, and business managers involved in software and services purchasing. The Software 500 is searchable by category on www.softwaremag.com and it provides research and quick reference of top software and service companies and vendor viability for CIOs, senior IT managers, and IT staff.

"I am pleased that Cortex made it to the Software 500 and was recognized as a leading service provider for companies under the $10 million mark," said Art Smith, president of Cortex. "It is this type of service and recognition that differentiates Cortex in the marketplace from our competitors, accelerates our sales with both buying organizations and suppliers, and makes me confident we have the right formula to succeed."

The ranking is based on total worldwide software and services revenue for 2010. This includes revenue from software licenses, maintenance and support, training, and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at www.softwaremag.com, as well as from public documents. The 2011 Software 500 Ranking can be found here.

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.

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.

Contact Information

  • Cortex Business Solutions Inc.
    Ana Montalvo
    Marketing and Sales Coodinator
    403-219-2835 or Toll Free: 1-866-716-6272