Synertrade Reviews & Pricing

by Econocom Group | Founded 2000, New York City, NY

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What is Synertrade?

Industry Specialties: Serves all industries

Synertrade Accelerate is a cloud-based solution that helps optimize the purchasing process. Users can oversee the entire procurement process, from managing suppliers to sending invoices. It includes features like spend analysis, procurement management, contract lifecycle management, catalog management, purchase requisitions, supplier enrichment, onboarding and more. It offers services in over 20 languages worldwide.

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Based on 30 reviews:

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Synertrade Pricing

Based on our most recent analysis, Synertrade pricing starts in the range of $500 - $1,000.

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Pricing Model: Quote-Based
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Training Resources

Synertrade is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Synertrade:

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Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
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24/7 Live Support

Synertrade Benefits and Insights

Why use Synertrade?

Key differentiators & advantages of Synertrade

Cost Reduction: Synertrade enables organizations to significantly lower procurement expenses by automating and optimizing the sourcing process, leading to better negotiation outcomes and volume discounts.
Enhanced Efficiency: By automating routine procurement tasks, Synertrade frees up valuable time for procurement teams, allowing them to focus on strategic decision-making rather than administrative duties.
Improved Spend Visibility: Synertrade provides comprehensive insights into company spending patterns, enabling businesses to identify cost-saving opportunities and make informed purchasing decisions.
Risk Management: With its supplier management capabilities, Synertrade helps companies mitigate risks by ensuring compliance and monitoring supplier performance, thus safeguarding against supply chain disruptions.
Strategic Sourcing: Synertrade facilitates a more strategic approach to sourcing by providing tools for market analysis, supplier evaluation, and contract management, ensuring the best value for procurement activities.
Compliance and Control: The software ensures that procurement processes adhere to company policies and external regulations, reducing the risk of non-compliance and enhancing internal controls.
Collaborative Platform: Synertrade fosters collaboration between internal stakeholders and suppliers, streamlining communication and making the procurement process more transparent and efficient.
Data-Driven Decisions: With advanced analytics and reporting capabilities, Synertrade empowers businesses to make data-driven decisions, optimizing procurement strategies for better outcomes.
Scalability: Synertrade's flexible architecture allows it to scale with a business's growth, accommodating an increasing number of suppliers and transactions without compromising performance.
Global Capabilities: Designed for global operations, Synertrade supports multiple languages and currencies, enabling seamless international procurement activities.
Innovation and Continuous Improvement: Synertrade is committed to innovation, regularly updating its platform with new features and technologies to address evolving procurement challenges and enhance user experience.

Industry Expertise

Synertrade specializes in digital procurement solutions, catering primarily to large enterprises and multinational corporations across various industries, including manufacturing, automotive, finance, and public sector. Its expertise lies in streamlining and automating the end-to-end procurement process, from sourcing to payment, making it ideal for organizations looking to enhance their procurement efficiency, reduce costs, and gain a competitive edge through digital transformation. Synertrade's platform is particularly suited for companies with complex procurement needs and a global supplier base.

Synertrade Reviews

Average customer reviews & user sentiment summary for Synertrade:

30 reviews

86%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Synertrade reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Easy to Use: According to all users mentioning this aspect, the system is very easy to use and doesn’t require training.
Customization: Every reviewer referring to this feature observes that the system can be tailored to their requirements.
Customer Support: The service team is always available and quick to respond, according to all reviews referring to this aspect.
Implementation: The system is easy to implement, according to 75% of users mentioning this element.
Procure-to-Pay: The procure-to-pay system is robust and flexible, as all the reviews on this feature note.

Cons

Interface: The interface is clunky and has bugs in the experience of 60% of users mentioning this aspect.
Maintenance Services: All the reviewers mentioning this feature indicate there’s a need to improve it for more speed and accuracy.

Researcher's Summary:

Synertrade is an easy-to-use procurement system that helps streamline and manage the entire purchasing process. It offers quick customer support, along with easy customization and implementation. Users also appreciate how flexible and robust the procure-to-pay functionality is. However, the interface is clunky and has bugs, and the maintenance services require improvement to provide greater accuracy. Overall, it’s a good choice for companies looking for a user-friendly and customizable system with catalog management.

Key Features

Source-to-Contract

Spend Analytics: Gather and store data on spend, orders and invoicing. Analyze, process, classify and consolidate data, and access reports to track expenses. Visualize and personalize reports, export to MS Excel, and create and share presentations.
Product Management: Maintain, add and search product or services documents and data in a database, as well as approve and reject updates. Databases can sync with e-sourcing, CLM and P2P processes.
E-Sourcing: Gather requirements and use templates to create an RFI, RFP and RFQ. Get quotes from suppliers, conduct reverse auctions, analyze responses and initiate contracts.
Contract Lifecycle Management: Store, share and search for contracts from a single repository, manage the lifecycle of all contracts, and revise and analyze them internally or with suppliers. Sign contracts using digital signatures and increase compliance.
S2C Intelligence: Identify opportunities using multi-dimensional reports, browse data, customize reports and export or broadcast them.

Procure-to-Pay

Catalog Management: Create, maintain and import catalogs, and allow suppliers to change and update their catalogs. Includes workflows to approve changes and comparisons for articles and catalogs to view the differences in the existing catalog.
Purchase Requisitions: Optimize user experience by offering advanced search, flexible delivery, a customizable basket and more. Use punch-out catalogs to describe internal requirements and create purchase requests from catalog items.
Order and Receiving: Submit internal requests for approval, and on approval directly generate and send orders to suppliers. Download electronic order forms, confirm order shipments, request modifications and browse orders. Helps manage receipts, deliveries and the return of materials.
E-Invoicing: Manage invoices, integrate suppliers in the invoicing process and use three-way matching and contract compliance to identify gaps between orders, invoices and contracts. Allow end users to view invoice status, status of dispute and more on an intuitive dashboard.
P2P Intelligence: Analyze main indicators, view P2P data, customize, and export or broadcast reports.

Supplier Management

Onboarding: Control onboarding and offboarding of suppliers, tracking certificates and other documents. Includes a personalized self-service portal and the ability to approve or reject self-registering suppliers.
Supplier Enrichment: Use a supplier cleansing engine to access a consolidated supplier database with specific data on financial ratings, ownership, CSR ratings and more. View and browse data from external sources, and set up reports and KPIs.
Risk and Performance: Create and customize assessment questionnaires online, evaluate KPIs, assess performance, anticipate risks and measure compliance. Automatically create and renew assessment campaigns and analyze assessment results with the help of customized reports.
Continuous Improvement: Create, manage and follow a resolution plan, assigning tasks to internal team and suppliers.
SRM Intelligence: Browse SRM data, as well as customize and export or broadcast reports.