Cortex Business Solutions Extends Partnership with OFS Portal to Promote Industry Best Practices for e-Invoicing

CALGARY, Alberta, April 07, 2016 -- Cortex Business Solutions Inc. (TSXV:CBX), an online business-to-business, network as a service, that helps companies reduce invoice processing times by connecting and interacting with each other, today announces their collaboration with OFS Portal as one of their approved networks providing e-Invoicing solutions to companies.    

"OFS Portal's role is to broaden the adoption of eCommerce across the Oil & Gas industry.  We work hand-in-hand with our approved networks such as Cortex to implement efficient and practical business processes using open standards.  This has direct benefit to both Operators and Suppliers and reduces the cost of doing business electronically across the oil patch," said Chris Welsh, OFS Portal CEO.

The partnership, which has been in place for almost 15 years, remains a natural fit for both organizations based on their mutual focus on providing solutions to customers looking to reduce costs, and improve the efficiencies of their internal manual processes. The past year has been a particularly strong year for both organizations, and led to this renewal to allow both organizations to move ahead with collaborative initiatives.  

Cortex has made strides to work closely with OFS Portal and its Member companies to drive industry best practices for field tickets and invoices. The unified goal of both Cortex and OFS Portal is to implement common processes using open standards that reduce errors and direct information into systems that allows users to have greater visibility into daily costs and accruals.   

Elena Dumitrascu, Vice President, Business Development and Sales commented “We are very happy to continue our relationship with OFS Portal which is one of our longest standing, and most important partnerships. We are excited at the prospect of working collaboratively with them to improve industry standards and to provide value to our mutual customers.”

About OFS Portal, LLC

Headquartered in Houston, OFS Portal LLC is a group of globally diverse suppliers helping buyers in the use of industry best practices when digitizing their supply chain, promoting cost-effective approaches in making e-Commerce a reality for both buyers and sellers. OFS Portal members include: Baker Hughes, GE Oil & Gas, Halliburton, Schlumberger Oilfield Services, Select Energy Services and Weatherford International. Membership is open to any oilfield supplier with activities in the oil and gas sector. Learn more at www.ofs-portal.com or call 832-681-7300.

About Cortex Business Solutions

Cortex Business Solutions Inc. (TSXV: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.

Investor Relations Contacts:

Joel Leetzow
President and CEO
[email protected]
403-219-2838

Sandra Weiler
CFO
[email protected]
403-219-2838

Andrew Stewart
Director, Marketing & Investor Relations
[email protected]
403-219-2838