B2B Payments

Cortex Strengthens E-Procurement Compatibility with Britec Software

With a climbing number of solutions businesses can choose from to manage operations, it is becoming increasingly imperative that these solutions can function within each other. Cortex Business Solutions, which provides digital procurement resources for B2B companies, announced Wednesday (Feb. 25) that it would be strengthening its efforts to ensure Cortex integrates with other business management tools.

According to the announcement, Cortex has reenergized its relationship with Britec Computer Systems. Together, the two operate the Sage enterprise resource planning (ERP) tool.

Designed for SMEs and mid-market firms, Sage offers an array of services and software, including payment and payroll, accounting and resource planning management. Britec will offer its software expertise for Sage, while Cortex can implement its electronic billing services for suppliers using the product.

According to Britec CEO Roger Katarey, the partnership is part of a broader goal to simplify B2B operations. “By providing a value integration solution to the enterprise, we are executing on improvements in process, driving finance costs down, and strengthening compliance and internal controls.”

With the demand for digitization of procurement processes rising, and the need for solutions to function in synergy, companies are offering more vast, all-in-one solutions packages. The growth experienced within the B2B Software-as-a-Service industry is particularly reflective of the multifaceted demands businesses need to operate smoothly.

According to recent research, the B2B SaaS industry is expected to yield $6.7 trillion worth of sales in 2020, with markets in the US and China leading the pack. The boom, experts say, stems from procurement officers’ demands to shop for their businesses online and, in return, suppliers’ demands for resources to build an online marketplace for their buyers.​

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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