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Finance Digitalisation Forum 2024

Embracing Digital, Building Resilience and Growing through Complexities in the Face of Volatility 

12 - 13 September 2024  

Dusit Thani Laguna Hotel | Singapore

This Event is HRD Corp Claimable for Eligible Malaysian Companies

In the lead-up to the Finance Digitalisation Forum 2024, we had the opportunity to sit down with Janina Insua, Senior Vice President at Candex, a company revolutionizing the way businesses handle tail spend and supplier payments. In this insightful interview, Janina delves into how Candex's innovative solutions are simplifying procurement processes, mitigating risks, and enhancing compliance for leading global companies.

Explore the full interview below as Janina shares her thoughts on what sets Candex apart in the market, success stories from their clients, and what finance leaders should focus on as we approach 2025. Get ready to discover key takeaways and the exciting new developments that Candex will be showcasing at the upcoming forum.

1. Can you introduce your company and the solutions/services you offer to businesses in the finance digitalisation field ? 

Candex is a tech-based tail spend solution that helps large companies pay small and one-time suppliers in a quick, easy, and highly-compliant manner. Candex becomes a master vendor to the client, we invoice the client on behalf of any vendor to get money from the client, and then we pay the vendor on the client's behalf so that they don’t have to. With Candex, Finance gets compliant, automated invoices, on-time payments to suppliers, standard contracts and payment days, and increases days payable outstanding (DPO). As your master vendor, Candex will additionally help mitigate risk and exposure to fraud. 

2. What sets your solutions apart from others in the market, and how do they address the specific needs and challenges faced by Finance leaders today?

Candex offers a truly global solution where our clients get a full p2p process, with an approval up front and invoice acceptance prior to payment without having to onboard the supplier directly. Candex leverages our clients existing eProcurement systems, and leverages our expansive network of local operating affiliates to ensure each transaction is local for our clients. This simplifies tax issues for our clients including ensuring straightforward VAT recovery without time-consuming reconciliation work, a burden many of our clients face with Pcards and other providers. 

3. Can you share any success stories or case studies where your solutions have made a significant impact in a company?

Candex has helped a hundred Fortune 2000 Companies achieve massive master vendor reductions, avoid thousands of vendor onboards, help mitigate risk and exposure to fraud, increase spend under PO, increase automation resulting in shorter cycle times, improve supplier diversity reporting and visibility, and helped improve user experience for both Suppliers and business users. Happy to share stories and case studies from clients. 

4. In your opinion, what roles should pioneer in the industry play in preparing for the uncertainties of 2025 and beyond?

Given the changes we're witnessing as a result of AI and smart technologies, it is ever more important for Companies to be nimble and able to act quickly with utmost precision and compliance. Disruptions in supply chain, fraud, and the need for clear and simple user experiences are all reasons why Candex is an optimal purchasing channel for small and one-off purchases. 

5. As a solution provider, what are the 3 key takeaways or learnings you hope attendees will gain from interacting with your company during the event?

A. Candex is a highly-automated well-oiled tail spend solution that will simplify and improve the lives of all stakeholders. 

B. Candex makes it very simple to try and experience first hand the benefits of a tail spend solution without significant financial or time commitments. 

C. Candex is a true global solution, meaning the way we're set up allows us to serve your Company locally, and provide a seamless experience for the business as well as your third-party vendors. Our platform is in 14 languages and we're in nearly 50 countries around the globe and expanding. 

6. Finally, can you share any upcoming developments or innovations in your solutions/services that attendees should be excited about?

1. Automatic invoice generation for vendors 

2. Support for pro-forma invoices 

3. Enhanced controls for spend limits and approvals 

4. Custom flags for special tax scenarios and exceptions 

5. Improved compliance and ESG initiatives 

Conclusion

Janina Insua’s insights provide a powerful glimpse into how Candex is redefining the finance digitalisation landscape. As we approach 2025, the demand for innovative, compliant, and efficient solutions is critical, and Candex is at the forefront of this transformation.

Attendees of the Finance Digitalisation Forum 2024 will gain exclusive access to cutting-edge strategies, insights from industry leaders, and practical solutions designed to tackle the challenges of today and tomorrow.

For registration pricing and multiple attendee discounts, please contact:

Mariam Shaheen
mariams@marcusevanssg.com