A game-changer.
That is how Candex is often described for the role it plays in spend management.
But no matter the spending power, Jeremy Lappin, CEO and Co-Founder of Candex, believes his company’s services are evolutionary for all businesses. “Enterprises have a very complex world,” Lappin tells us. “They have to onboard a lot of vendors and three to five percent of their spend usually goes to about 70 to 80% of their vendors. Candex is truly transformative. For smaller spends, it eliminates the hassle of onboarding numerous small or one-time vendors. For larger spends, it ensures compliance with the process, freeing teams to focus more on strategic, high-value vendors that really drive impact for the company.
A tail spend management leader like Candex shines at simplifying payments to small or one-time vendors. However, one of its biggest competitive advantages is the streamlined and extremely simplified user experience which, according to Lappin, has even seen Candex be compared to the ‘iPhone of procurement’. “Candex has an incredibly simple user interface,” says Lappin. “We really just punch out a company’s existing procurement flow which makes it incredibly easy and simple to use. There are four fields that buyers need to fill in to purchase any product or service, and they are universal for every country we operate in globally. We get high praise and lots of compliments about how seamless the procurement process is when Candex is involved in the flow.”
Procurement leaders are under pressure to digitise quickly but also avoid bloated tech stacks. Fortunately, Candex is well placed to step in and help them achieve both goals. “Tech stacks are difficult to implement, it’s hard to get people to use them,” explains Lappin.
“It’s also tricky to get vendors onboarded into them and for them to cooperate patiently during the whole onboarding process. When you are moving from one tech solution to another, it becomes even more challenging as it’s a complete change from an old system to a new system, and a daunting task of getting all the data moved over. And so, with Candex, you have a ready solution that helps you get rid of the noise of onboarding small vendors. With that in perspective, all the things I mentioned earlier become much easier to do. That’s the game that we’re in, make whatever your strategy is, easier.”
Candex is one of a select group of procuretech innovators partnering with ORO Labs through its ORO Partner Enterprise Network (OPEN) ecosystem. As Lappin explains, the collaboration came about organically: “It really happened the way partnerships should. Our customers pushed both organisations to do it, and that’s when you know you have a strong partnership. It wasn’t us sitting in a back room imagining how we might work together. It was specific, significant clients saying, ‘We want to try ORO, and we’d love to see how ORO integrates with Candex.’ These were already Candex clients, so it became a natural opportunity to make the connection. From there, we decided to promote Candex and ORO as a joint solution that we could bring to market together.”
Find out more about Candex here.