Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

April 29, 2013 13:44 ET

Cortex Partners With Perfect Commerce to Offer Enhanced Supplier Network Value

CALGARY, ALBERTA--(Marketwired - April 29, 2013) - Cortex Business Solutions (TSX VENTURE:CBX) has partnered with Perfect Commerce to increase the reach and value of their respective customer networks to broaden the breadth of offerings.

Cortex, a Calgary based company with offices in Houston, Denver and Toronto, provides Companies with an industry leading eInvoicing platform, simple supplier on-boarding process and best-in-class post-implementation support. Cortex is a leader in the provision of einvoicing and ebilling services and tools that facilitate invoice delivery.

Perfect Commerce, based in Newport News, VA, is a leading provider of end-to-end procurement solutions over their network of 500,000 suppliers in the US and around the world. Their expertise in providing seamless integrations with ERP back-office systems has made them a preferred choice among Fortune 500 companies.

This new strategic partnership will provide Cortex and Perfect Commerce customers with access to the two complementary trading networks and platforms, a broader range of best in class functionality, and tools that increase AP efficiency and the elimination of paper invoices.

Under this agreement, Perfect Commerce will interface to Cortex's network and platform in order to offer enhanced invoicing capabilities, especially associated with complex services. Cortex will connect their network of over 9,000 suppliers, through the Cortex Trading Partner Network (CTPN) to the unique suite of Perfect Commerce's first-class end-to-end procurement solutions.

By moving forward with this partnership, both Cortex and Perfect Commerce are able to create greater value for their existing customers by increasing the strength of their respective networks and providing customers with access to thousands of new potential partners. In addition, the complementary services allow increased functionality to be offered by each company to existing and new customers.

Those companies already on each network will benefit from the ability to connect with more partner businesses than ever before, allowing them to grow their businesses through trusted networks.

"Cortex is pleased to partner with Perfect Commerce as we continue the process of delivering value for our Trading Network" said Mike Rose, Vice President of Business Development. "Cortex's leading electronic invoicing platform combined with Perfect's best-in-class Procurement solutions will provide new and existing customer's expanded end-to-end Procure-to-Pay capability".

"Perfect Commerce is working aggressively to find and work with partners that add value to our existing customers and extend our reach to new geographies and industries." said Michael Ereli, Vice President of Alliances and Partners. "We are excited to work with Cortex, who will be a valuable partner, especially in the energy industry."

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 Perfect Commerce

Headquartered in Newport News, VA, Perfect is the world's largest independent provider of end-to-end spend management solutions. We have provided world-class sourcing and procurement solutions for companies of all sizes since our inception in 1994, and have continued to be one of the market's leading providers with industry-leading customers such as Starbucks, BNP Paribas, Johnson Controls, Inc., YRC Worldwide and Honeywell, Inc.

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.
    Ryan Lailey
    3404 25th Street NE
    Calgary, AB T1Y-6C1
    (403) 219-1504

    Perfect Commerce
    Lisa Rosenbaum
    One Compass Way, Suite 120
    Newport News, VA 23606
    (757) 283-9800