Partnership agreement expands P2P capabilities of the Cortex Network
CALGARY, ALBERTA – November 2, 2017 - Cortex Business Solutions Inc. (TSXV: CBX), a network-as-a-service e-invoicing solutions provider, is pleased to announce that it has entered into an agreement with OpusCapita, to provide Trading Partners on the Cortex Network the innovative, OpusCapita e-Catalog solution, marking the first time that these solutions have been offered by an oil & gas e-invoicing Network in North America.
Meeting the unique needs of the traditional upstream oil & gas vertical is what has always set Cortex apart. Introducing an e-Catalog solution that supports the specific needs of that industry as well as all verticals that they support, such as manufacturing, mining, and sports & entertainment, will enable Cortex customers to further automate procure-to-pay processes. Adoption of e-Catalogs across various markets is accelerating as industry standards have driven standardization of product catalogs and complex services price sheets. By being the first e-invoicing Network that brings this functionality to the Oil & Gas industry and beyond, Cortex continues to be a foundational and transformational player in the e-invoicing space.
The OpusCapita e-Catalog solution allows suppliers to load product and services catalogs and price sheets for Cortex customers. Once approved these catalogs are made available to the requisitioner via an online shop experience and are also available to support Cortex’s invoice validation services. The addition of OpusCapita e-Catalog to the Cortex Workbench gives Cortex customers the ability to tie-in existing procurement processes with their Cortex Workbench account and ensure closer alignment and matching between actual spend on an invoice and contracted pricing with suppliers.
"As the leading e-invoicing network, we are extremely proud to provide customers on the Network this ability to better run their business using enhanced e-Catalog and e-Procurement tools directly from their Cortex Workbench account," said Joel Leetzow, President & CEO of Cortex. "The addition of the OpusCapita functionality will provide our customers with even greater end-to-end visibility, control and compliance of their company’s spend and cash flow; another example of the Cortex Network’s ever-increasing value to all buyers and suppliers.”
About Cortex Business Solutions
Cortex’s strategy is to revolutionize B2B document exchange by replacing traditional paper-based manual systems with automated e-invoicing. This positions companies with the scalability and flexibility needed to meet the demands of today’s business. Cortex offers a B2B network that enables electronic invoicing for buying and supplying organizations using flexible connection methods to 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.
Cortex is currently delivering e-invoicing services to Trading Partners in Oil & Gas, Manufacturing, Mining, and Sports & Entertainment industries, with a focused expansion into additional verticals.
For more information, please visit www.cortex.net
OpusCapita helps organizations sell, buy and pay more effectively by providing them with extended purchase-to-pay and order-to-cash solutions. We have created a global ecosystem where buyers, suppliers, banks and other parties connect, transact and grow. Together with our customers, OpusCapita is transforming sales, procurement and financial processes for the digital age.
For more information, please visit www.opuscapita.com
Investor Relations Contacts:
|Joel Leetzow||Henry Pham||Andrew Stewart|
|President and CEO||Interim CFO||Director, Marketing & Investor Relations|