Candex is a fintech platform that enables large organizations to efficiently manage and pay one-time, irregular, and low-risk suppliers using their existing procure-to-pay (P2P) processes. Candex acts as a consolidator, simplifying the purchasing workflow for the vast majority of vendors that typically represent a small portion of overall spend but create significant administrative complexity.
How does Candex work?
Candex facilitates procurement by managing the setup, support, and compliance requirements for suppliers, including handling tax and regulatory complexities on a global scale. The platform is designed to integrate seamlessly into existing e-procurement systems, support bulk uploads, or connect via API for flexible workflow adoption. This allows organizations to pay suppliers quickly and compliantly, even across borders and currencies, without overhauling their current systems.
A key differentiator for Candex is its focus on "tail spend"—the 70-80% of vendors that account for only 3-5% of total spend. By consolidating these transactions and vendor records, Candex helps reduce administrative overhead, increase control and visibility, and make policies like "No PO, No Pay" achievable for organizations.
Who uses Candex?
Candex primarily serves large enterprises and organizations with complex procurement needs and significant numbers of low-volume or one-off suppliers. While specific customer names are not provided, the solution is geared towards multinational companies seeking to streamline their supplier payments and compliance processes.
How was Candex started?
Candex was founded in 2011 by Jeremy Lappin and Shani Vaza. The founders set out to solve the challenges associated with tail spend management. Their technology was developed to remove the burden of managing thousands of vendor records from financial systems, while delivering enhanced control, speed, tax compliance, and procurement visibility. More about their founding and mission can be found on their About page.
Where is Candex based and what is their scale?
Candex is headquartered in New York, NY, United States, and operates globally. The company is privately held and employs between 51-200 people, reflecting its focus on specialized software development for procurement and financial management.
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