Synertrade’s journey hasn’t been conventional, but it has led to them being able to offer a unique and comprehensive suite of solutions that has evolved as the needs of procurement have changed over the last few decades.
To learn more about their evolution and how they’ve become a trailblazer in source-to-contract and supplier relationship management, Helen Mackenzie spoke with Synertrade President and CEO Olivier Berrouiguet.
Synertrade is a source-to-pay platform that has been helping businesses manage their procurement processes for over 20 years, and they offer a range of applications that cover the entire procurement cycle, from supplier relationship management to procure-to-pay. They started their journey as supplier relationship management platform before expanding into procure-to-pay. Olivier says this unique growth lifecycle is in large part what differentiates the company, allowing them to possess a deeper understanding of the dynamics between procurement stages.
“It gave us the experience to understand further and deeper what is necessary and how flexible and reliable you have to be, and that’s quite an added value we have in this market,” he said.
Their core differentiator, though, is that the platform caters not just to the transactional side of procurement but also to the complexities of decision-making and supplier management. This adaptability and depth is reflected in the tool itself, which offers a “no code” or “low code” experience and resonates with a diverse user set.
Having a comprehensive platform makes life easier for procurement as well. Companies, especially mid-size, can easily transition or initiate their digital transformation without the hassle of retraining staff or juggling different technologies. The ability to execute actions and manipulate data within the same environment sets Synertrade apart and gives their users a cohesive and streamlined experience.
“A lot of mid-sized companies like the fact that they can start the journey by having a digital tool from source to procure on the same platform, with the same technology,” he said. “That provides added value because you don’t have to retrain your people — it’s the same technology and the same environment.”
This also means when plans change or procurement want to go in another direction, they can rely on data consistency within the platform and then use that data to execute, without ever having to leave the platform.
“This gives us a different DNA from other players,” said Olivier, positioning Synertrade as a driving force for growth, efficiency, and innovation.