SynerTrade Review - why 4.1 stars?

Shlomi Lavi / updated: Mar 23, 2022

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What is SynerTrade?

SynerTrade is a cloud-based procurement software designed to offer companies solutions to digitalize procurement processes. The software comes with features such as:

• Source to Contract: End-users can identify the proper suppliers, plan, execute and analyze their tenders, handle complicated online negotiations, and manage their contracts. All these are methods to structure their sourcing process.
• Procure to Pay: End-users can simplify and automate their buying process for improved control, from catalog management to invoice tracking. They can keep track of each stage of the supply chain in various ways: Import supplier catalogs, manage purchase requisitions, issue and approve purchase orders, track products delivery and receipt, validate invoices, and complete payment.
• Supplier Relationship Management: End-users may collect reliable information and decrease risks for improved cooperation from supplier onboarding through strategic collaboration. They can also strengthen their relationships with suppliers by gaining a comprehensive perspective of their data, assessing risk and performance, establishing compliance requirements, communicating easier, tracking progress, and collaborating more effectively.
• Access your data everywhere, anytime: SynerMobile allows end-users to access real-time business information when visiting suppliers and accept or reject purchase orders while away from the office.

SynerTrade is a procurement software that started in 1999. The company is headquartered in Munich, Germany. The company has a workforce of up to 500 employees.

Who is it best for?

The typical customers include the following business size: Medium and large size businesses.

What is the actual cost?

SynerTrade Accelerate pricing is above the average cost of supply chain management and procurement software. It has strategic sourcing to contract lifecycle management has global and local procurement strategies, can build online RFIs, RFPs, RFQs, etc., and has advance bidding analysis and awarding capabilities. It also has nine auction types online, and contract authoring and monitoring.

It has five apps for source to contract solutions namely Spend Analytics, Product Management, E-Sourcing, Contract Lifecycle Management, and S2C Intelligence. Its procure to pay system to allow users to create Amazon-like webshop, use easy-to-use free purchase request form, collaborate with suppliers and clients, and track invoices.

Its apps include Catalog Management, Purchase Requisition, Order & Receiving, E-Invoicing, and P2P Intelligence. Its supplier chain management solution offers easy suppliers onboarding, fully customizable supplier database, supplier performance reporting, and project management. Its apps for this feature are Onboarding, Supplier Enrichment, Risk & Performance, Continuous Improvement, and SRM Intelligence.

ITQlick pricing score is 10 out of 10 (10 is most expensive). Access ITQlick pricing guide for SynerTrade.

Pros

• SynerTrade is feature-rich and custom flexible
• The software allows collaboration with suppliers
• The software is easy to use and offers full coverage of the procurement-to-pay process

Cons

• Users complain that change requests take very long, and the support is slow
• Reporting system needs improvement

How it stacks up?

Access a head to head analysis of SynerTrade vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is SynerTrade right for you or your business?

Procurement companies or officers seeking cloud-based procurement software for digitizing their procurement processes will fit well with SynerTrade. The software aids companies meet all their procurement challenges in different ways. Wabtec Corporation, AGCO, Park-Ohio Holdings Corp, Mondadori Group are all examples of customers who use SynerTrade.