SynerTrade today announces that the company kept ist growth pace after the 2016 first quarter’s record expansion of more than 75%, the SynerTrade Group was reporting further growth of 50% in the second quarter.
Now, the company shows a total growth of more than 60% for the complete fiscal year 2016 with earnings before tax of close to 1.5 million euro.
Despite its aggressive expansion, SynerTrade remains profitable along the full financial year. Once more, the crucial factors were a strong growth in all the countries where SynerTrade is active, more than 35 new customers across all industries, tremendous customer loyalty and a contract renewal rate of 98%.
The customer base grew in all regions with a steep increase in the USA and Italy. SynerTrade’s new license model propelled the growth not only in enterprise class account business but also in selling to mid-range clients.
SynerTrade made the right step in 2015 to become a part of the Econocom Group. Our new major shareholder guarantees financial safety for all our current and future customers. We are well embedded in a global and aggressive expansion strategy with the clear goal to grow into a world-leading provider of Internet and mobility solutions.” comments SynerTrade CEO Eberhard Aust.
After the foundation of SynerTrade Iberica in Madrid, the group is now employing more than 200 experts. Furthermore, a SynerTrade office was opened in 2016 in the German finance and business center of Frankfurt, in order to be available even easier for our customers in Central Germany. In 2016 was also held the first edition of the Digital Procurement Summit, international event about procurement digitization organized by SynerTrade.
The product innovations are mirroring this positive trend likewise: New apps allow for a mapping of the tender procedure standard PEPPOL, Invoice Matching, the EU chemical directive REACH and Category Management within SynerTrade’s procurement solution Accelerate.
The foundation for this advantageous development is laid by the dynamic SaaS software market on one hand and the automation of business processes, which are forcing procurement and finance departments in large companies to get increasingly efficient ePurchasing solutions on the other hand. The purchaser’s job description has changed drastically in the past years: Instead of minimizing cost, nowadays the focus is on the strategic objective of supporting business performance.
Last, but not least, SynerTrade intensifies its strategic partner relations and completes its product portfolio with world-leading partner applications for digital signatures (DocuSign) and supply chain risk (riskmethods).