At Candex, we enable corporate partners of all sizes to engage and transact quickly, seamlessly, and securely. We are driven by a commitment to not only increase the speed and efficiency of corporate engagements, but to do so in a way that promotes sustainability, inclusiveness, and compliance. We demonstrate these values in our corporate structure and initiatives, and through our client offerings.
As a streamlined, digital company, Candex is able to strategically limit our use of non-renewable resources and our carbon footprint. Notwithstanding our global operations, we limit our office space and travel, leveraging technology and a digital workspace to minimize our carbon footprint.
We host the full Candex Platform on servers that we anticipate will be entirely powered with renewable energy by 2025, and our internal business operations are supported by solutions like Google mail, which has been carbon neutral since 2007, and anticipates being carbon free by 2030.
But sustainability is not just about carbon emissions. It is also about addressing resource depletion, preserving biodiversity, and limiting pollution. Candex was founded with a digital-first philosophy. This extends not only to our SaaS application, but also to the way we operate our business, which includes eliminating needless use of paper and other resources through entirely electronic PO submission and invoicing.
Candex also helps our clients with their sustainability goals through the speed and efficiency of our fully digital, SaaS solution platform. Using Candex, corporate buyers can quickly and digitally onboard local vendors without cumbersome manual setup processes. This enables them to source goods and services locally from smaller suppliers, which not only supports the local community, but also reduces unnecessary travel and transportation. In addition, by eliminating needless vendor onboarding and helping our clients reduce their vendor master, Candex enables our clients to reduce or reallocate their internal resources and focus on sustainability.
Responsible Business Practices & Governance
We recognize the importance of living our values at all levels of the organization, and set a tone of inclusivity and compliance at the top with executive leadership and our Board of Directors. Our independent Board of Directors elects corporate officers, advises the executive leadership team, and provides strategic oversight while monitoring Candex’s performance. The Board provides guidance and counsel to our Chief Executive Officer and oversees our programs and services to prevent and detect violations of law, regulation, or our internal policies and procedures. To this end, each Candex quarterly Board meeting allocates time for compliance reviews.
With Board oversight, our executive leadership team has built a robust compliance infrastructure to support our culture of integrity and accountability. We maintain and perform company-wide annual training on our compliance policies, including Code of Conduct, Anti-Money Laundering, Anti-Fraud, and Anti-Corruption. Among other things, our Code of Conduct sets out clear guidelines around conflicts of interest, confidentiality and privacy, gifts and entertainment, compliance reporting, and non-retaliation.
Beyond our internal governance, Candex plays a critical role in supporting our clients’ responsible business practices. Unlike credit cards, Candex operates within a fully-automated procure-to-pay (P2P) process, while providing full transparency, auditability, and tracking of spend with all vendors engaged via the Candex platform. When it is easy to get approved purchase orders, business users are more likely to comply with the P2P process. So with Candex, even one-off and small vendor engagements get formal approval in the client e-purchasing system and all payments are based on receipt of a proper invoice tied back to that purchase order authorization.