Candex was founded in 2011 to solve the tail spend problem by removing complexity from purchasing and payments. They enable businesses to engage, collaborate, and exchange payments in a compliant way without setup in each other’s financial systems.
Candex removes thousands of provider records from financial systems while delivering control, speed, tax compliance, and visibility. They simplify how buyers and sellers trade goods and services by acting as the trading partner for both sides. Buyers authorize each order to Candex for the benefit of a specific seller, sellers invoice Candex, and Candex invoices the buyer after verifications and compliance scans before settling payment.
Candex is a technology-based master vendor that makes it easy for large companies to engage, track and pay their smaller vendors.
This population of vendors, known in the industry as "Tail Spend" creates major operational and compliance challenges to manage. Our solution eliminates the challenges that come from engaging and paying this population, usually defined as the 5% of spend going to 80% of vendors.
Candex is a leader in tail spend management and a truly global solution available with local coverage in 50+ countries.
Product Strengths
Multiple methods of delivery (punchout, direct, webapp)
Delivered from within your ERP system
Leverages your existing workflow
Audit ready reporting & Sanctions & AML Screening
Full P2P Process
Ideal Customer
Companies in Americas, EMEA, APAC, UK, EUROPE with an annual revenue of $500M - $3B+
