Candex

Candex, a technology master vendor for tail spend

Candex presents itself as a technology-based master vendor that enables companies to purchase any good or service and pay for it quickly. Its proposition focuses on managing tail spend: purchases from suppliers that, due to their volume or dispersion, fall outside standard procurement channels. The company invoices buyers as master vendor, and suppliers invoice Candex for the goods and services provided.

The problem it addresses is the administrative cost of onboarding, tracking, and paying numerous suppliers. According to its approach, in many organizations this process involves several departments and takes months. Candex eliminates the need for buyer and supplier to be set up in each other's financial systems, replacing that burden with control, visibility, and compliance.

Origin and mission

The company was founded in 2011 by Jeremy Lappin and Shani Vaza with the goal of solving the tail spend problem. Its technology removes thousands of vendor records from financial systems while delivering control, speed, tax compliance, and visibility. The company sums up its mission as taking the complexity out of tail spend purchasing.

Operating pillars

Candex structures its proposition around four pillars: validation, compliance, precision, and privacy. These principles apply to the way companies engage, collaborate, and exchange payments within the platform.

Buyers and suppliers

The platform distinguishes two types of users. Buyers use Candex to receive invoicing as master vendor, while suppliers invoice Candex for the goods and services delivered. This model accelerates business activity and eliminates the enablement and support of thousands of trading partners, in favor of control, visibility, and regulatory compliance.

International coverage

The company states that it operates in more than 50 countries and is used by large global enterprises. It has a presence in New York, London, Singapore, Israel, and Japan, which supports its international reach.

Offices and locations

New York office: 420 Lexington Avenue Suite 300, New York, NY 10170 · Phone: +1 202 559 2596

Office 2: Kemp House, 152 City Road, London EC1V 2NX

Office 3: 200 Jalan Sultan #08-02 Textile Centre, Singapore 199018 · Phone: +65 6371 9737

Israel R&D office: Beit Gibor Sport, Derech Menachem Begin 7, Ramat Gan, 5268102, Israel · Phone: 5268102

Office 5: ARGYLE aoyama 6F, 2-14-4 Kitaaoyama, Minato City, Tokyo