Breaking ground in the distinguished report for advancements in Procure-to-Pay solutions.
New York, May 30th 2018. SynerTrade, a leader in flexible, digital procurement solutions, today announced that Gartner, Inc. has included SynerTrade in the 2018 Gartner P2P Magic Quadrant. Gartner first began evaluating and publishing assessments of this market in 2003.
The 2018 Gartner Magic Quadrant for Procure-to-Pay Suites report evaluated SynerTrade against other vendors in this market and was reviewed on a number of capabilities, including customer references, revenue, and hands on demonstrations and use of the tool. SynerTrade focuses on creating a “Amazon-like” functionality and simplicity when creating catalog purchasing.
SynerTrade continues to develop and expand as the only homegrown, single source code platform offering a Procure to Pay solution. The company is focused on continuing innovation and driving change for procurement organizations globally with a complete end-to-end solution for B2B spend across purchasing and procurement surrounding those business processes.
The 2018 Gartner Magic Quadrant for Procure to Pay Application Suites evaluates the vendor on “completeness of vision” and “ability to execute”. According to Gartner, a vendor’s ability to execute is based on an in-depth assessment of its product or service, overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience and operations. Completeness of vision includes the criteria: market understanding, marketing strategy, sales strategy, offering (product) strategy, business model, vertical/industry strategy, innovation and geographic strategy.
“Being recognized in the Gartner Magic Quadrant for Procure to Pay Suites is a major indication that SynerTrade has done some outstanding work for its customers, and confirmation that SynerTrade delivers an intelligent platform that serves the entire procurement organization,” said Eberhard Aust, CEO of SynerTrade.
SynerTrade’s debut is an achievement that the leadership believes reinforces its brand recognition in the market, customer satisfaction, product capabilities, and global presence which are the core criteria Gartner uses to determine vendors’ inclusion in the research.
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