“SynerTrade takes customers to the next level of digitalization offering them access to the best of today’s technologies, including cloud, big data, community and mobility,” says Rainer. The solution offers S2S functionality and an array of complementary modules such as artwork and packaging design, inventory management, brand management, and quality management. To facilitate flexibility of implementation SynerTrade delivers the Java EE-architected SynerTrade Accelerate primarily as multitenant as SaaS, along with availability on-premise and as a private cloud implementation.
According to Rainer, each procurement department has its own specific challenges and SynerTrade’s solution is composed of a wide range of tailor-made applications to match the exact client requirements. “Accelerate, is available in the form of 33 apps in 5 categories: Source-to-Contract (S2C), Procure-to-Pay (P2P), Supplier Relationship Management (SRM), Spend Analysis & Purchasing Intelligence and Innovation Management,” adds Rainer. For example: Source to Contract Apps streamlines the procurement process from the definition of sourcing strategy to the management of vendor contracts lifecycle, while maximizing savings and compliance.
Procurement Data Management Simplified
For more than a decade, SynerTrade has been providing high-end Spend Analysis solution, but while implementing it they noticed that in most organizations, the data quality was weak or even worse. The company developed a combination of algorithms and consulting services to harmonize data, making it possible to see any report or graph available with one click, based on clear and reliable spend data. “Data has become an important aspect in procurement however one can say data quality is becoming an increasingly important topic for organizations of all sizes,” adds Rainer.
SynerTrade takes customers to the next level of digitalization offering them access to the best of today’s technologies, including cloud, big data, community and mobility
SynerTrade has developed a three-step approach to iteratively normalize business and re-enrich the data in order to reach the necessary data quality level. They have introduced electronic signature technology and digital transaction management services to facilitate electronic exchange of contracts and signed documents. “This saves precious employee time that normally would be spent in preparing, sending, tracking, reconciling and handling documents. We all speak about Digital Transformation – this is a prime example!” elucidates Rainer. E-invoicing is another step that has also become a mandatory requirement by regulation, for tax-auditing reasons; or by trading partners’ requirement, implemented by SynerTrade. “Lastly, mobility is being incorporated in each and every solution, and it is pertinent to mention that SynerMobile instilled mobility five years ago,” adds Rainer.
One of the key differentiators of SynerTrade is data harmonization. “We introduced our Spend Analyses Software to offer organizations clear and reliable data,” explains Rainer. “One of our references is a big multinational company, where we cleaned data in over 120 subsidiaries and dozens of different ERP-sources in few months.”
SynerTrade has been developing their R&D section with their innovation lab located in Germany. “35 percent of our turnover is being invested in R&D. Our biggest value is our employees. We always scan the market for the best talents to keep our high innovation level and pace,” adds Rainer.
A lot of SynerTrade’s customers and prospects are in the journey to introduce more corporate functions to strengthen procurement. An example illustrating the company’s expertise is providing e-sourcing solution to AGCO – a global leader in the design, manufacture and distribution of a wide range of agricultural equipment. According to Jan Theissen, Director Strategy and Methods in AGCO having offices scattered globally needed to build a more centralized structure for their procurement activities. They wanted to bring together the people channeling their expertise to enhance the company’s productivity. However AGCO was lacking in effective tools that could make a streamlined process, a platform that could work globally and was mature enough to support and drive collaboration within a production material environment. They chose SynerTrade who assisted them to transform AGCO’s teams and unite them with the global management team, enhancing business ROI.
“The customers choosing our solutions and services give the feedback that we are big enough, to be a reliable partner for a long cooperation, but agile enough to be extremely customer focused and reactive,” explains Rainer. SynerTrade lives by their core values, synergy which is inspired by the customers and their needs, followed by performance which they deliver through their unique and innovative solutions, expertise driven by the desire to do things right and hiring talented people to advise improving business and lastly, enthusiasm and maintaining good relations with our customers, partners and colleagues is essential.
In the past year SynerTrade has showcased a profitable growth and plan to enhance their solutions and services and offer clients a unique experience. “I think, this is the best feedback we can get from the market and from our customers with a renewal rate of 98 percent plus and a more than great outlook for the upcoming years,” concludes Rainer.