SynerTrade Review - why 4.1 stars?

SynerTrade Review
ITQlick Score: 90/100
ITQlick Rating: (4.1/5)
Pricing: 10/10 - high cost
Category: Procurement -> SynerTrade
Ranking:Ranked 2 out of 78 Procurement systems
Company: SynerTrade
Pricing: starts at $59 per user/month
Typical customers: Medium and large size businesses
Platforms: Desktop, Mobile, Cloud
Links: SynerTrade pricing, SynerTrade alternatives

Shlomi LaviShlomi 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.


What is SynerTrade rating?

The rating of SynerTrade is 4.1 stars out of 5 and the total score is 90 out of 100. The ratings are based on our unbiased experts. Learn more in our rating methodology page

Who uses SynerTrade?

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

Is SynerTrade the best Procurement system?

SynerTrade is ranked 2 out of 78 software in their category (Procurement systems).

What are SynerTrade's pros? (3 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

What are SynerTrade's cons? (2 cons)

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

Who are their main alternatives?

SynerTrade competes with other procurement systems like SAP Ariba, Coupa Procurement, and Tradogram. We will compare these procurement systems in some specific aspects below.
  • Functionality: SynerTrade offers features like Source to Contract, Procure to Pay, Supplier Relationship Management, Access your data everywhere & anytime, Auction Management, Budget Management, Cataloging/Categorization, Collaboration Tools, Compliance Management, Contract/License Management, Invoice Processing, Purchase Order Management, Spend Management, etc. SAP Ariba offers features like Intelligent Spend Management (available in SynerTrade), Supplier Management (available in SynerTrade), Strategic Sourcing, Direct Spend Solutions, Procurement, Financial Supply Chain, Spend analysis, Service for Buyers, etc. Coupa Procurement offers features like Purchase Requisitions, Open Buy, Services Procurement (available in all alternatives), Budget, Spend Guard, Mobile, Purchase Order Software, Inventory Management, Contract Management, etc. Tradogram offers features like Purchase to Pay, Strategic Sourcing (available in SynerTrade), Supplier Management (available in SynerTrade and SAP Ariba), Contract Management, Spend Analysis, Order Management, Multi-Level Management, User Permissions, Supplier List, Items Catalog, Approvals, Budgets, Report Builder, Inventory, Requisitions, Purchase Orders, Requests, Delivery Tracking, Invoices, Expenses, Contracts, Instant Messaging, etc.
  • Costumers/Industries: SynerTrade has customers like Wabtec Corporation, AGCO, Park-Ohio Holdings Corp, Mondadori Group, Mediaset Group, Alstom Transportation, Engie, Sanofi, Carrefour, Shiseido, Vitrociset, etc. SAP Ariba targets Automotive, Banking, Chemicals, Consumer Products, Energy and Natural Resources, Insurance, and Public Sector. Coupa Procurement targets Retail, Insurance, Industrial manufacturing, Food and beverages, Technology, Life Sciences, Consumer Products, Healthcare, Oil & Gas, and Banking & Investment. Coupa Procurement has customers like American Eagle, The Fresh Market, Zalando Zeros, MGM Resorts, Lear corporation, Groupon, Sanofi, Service Cooperation International, Avalon Healthcare Group, Engie, AON, Airbus, etc. Tradogram targets Education, Construction, Energy & Utility, Food and beverages, Healthcare, Hospitality, Manufacturing, Non-profit, Technology, etc. Tradogram has customers like Reed, Ashesi University, Riverhealth Behavioral Health, Ohio Hills Health Services, Technical America, etc.
  • Cost: The license cost information for SynerTrade, SAP Ariba, and Coupa Procurement is unavailable, while Tradogram starts at $18 per user per month.
  • Cloud-based/On-premise: SynerTrade and all its alternatives are cloud-based.
  • Popularity: Coupa Procurement is publicly traded on the NASDAQ under the COUP symbol with 2000+ global customers. Tradogram is privately held with active users in over 80 countries worldwide.
  • Scalability: SynerTrade, Tradogram, and SAP Ariba can accommodate organizations of all sizes. Coupa Procurement can accommodate medium to large organizations in all industries.
  • Support: SynerTrade offers support channels like Email/Help Desk, Phone Support, 24/7 (Live Rep), and Chat. SAP Ariba offers an Email/Help Desk and Knowledge Base. Coupa Procurement offers all support channels of SynerTrade plus FAQs/Forum. Tradogram offers Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live Rep), and Chat.

What is the cost of SynerTrade?

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.

What is the REAL total cost of implementation? on top of the total cost of licenses which is easy to calculate you need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 10 out of 10 (10 is most expensive). You can fine here the REAL total cost breakdown for SynerTrade.

What should you ask SynerTrade during a demo session? (65 questions)

Schedule a demo with SynerTrade and access 65 must ask questions for the vendor while watching SynerTrade in action. Visit the vendor's website here.

Where SynerTrade is used?

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.

List of categories

Accounts Receivable
Project Collaboration
Supplier Management
Procurement
Contract Management
PO: Purchase orders
Project Budgeting
Bid Management
Supply Chain
Strategic Sourcing

List of features

Budget & Expense Management
Collaboration
Supplier Risk Management
Procurement
PO: Purchase orders
Contract Management

SynerTrade Vs. Alternatives

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Score
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SynerTrade
ITQlick rating
4.1/5
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10/10
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$59 per user/month
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DeltaBid
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Precoro
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SCLogic
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3.5/5
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86/100
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3.8/10
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Pricing not available
Functionality
5
Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.