Spend Matters has recognized SynerTrade as a “provider to know” for another year, acknowledging the quality and the innovation of SynerTrade’s solutions
Munich, May 23th 2017.- On May 22, Spend Matters has released its annual “50 Providers to Know/50 Providers to Watch” lists in conjunction with the annual ISM conference. Among the 50 companies, SynerTrade takes place for the second year in a row. The Spend Matters “50 Providers to Know” highlights companies that continue to innovate on new procurement technologies and changing the way we do business. This list is made by Spend Matters analysts, who discusses the value of each providers’ solutions. SynerTrade, which is also at the ISM event on 22-24th May, is very proud of this award.
For the second year, SynerTrade is recognized by Spend Matters. We are very happy that our solution is more and more known in North America. We have strengthen our position from our office in New-York, and also with the recent opening of our Canadian Montreal Office. This position in the “Spend Matters 50 Providers to Know” comes also from to the many innovations implemented in our solution SynerTrade Accelerate. We try to always fit to the procurement evolutions and the market needs. In short, we want our customers and procurement departments to be at the edge of innovation in the procurement fields
Rainer Machek, Executive Vice President at SynerTrade.
It’s difficult to make Spend Matters’ 50/50 lists, and we’re thrilled SynerTrade made it onto the 2017 Spend Matters 50 to Know list. This list is the product of intense, debate, discussion and refinement each year by our analysts. This year saw an increased competition among providers in existing segments. And once again, SynerTrade earned a deserved spot as one of the procurement providers worth knowing in 2017
Jason Busch, founder and head of strategy at Spend Matters.
Indeed, SynerTrade has gained increased visibility and shown a phenomenal revenue growth of 93% in North America. Synertrade has now 27 active customers in the US, with a lot of Fortune 1000 companies among them. An example illustrating the company’s expertise is the AGCO case: SynerTrade has provided AGCO – a global leader in the design, manufacture and distribution of a wide range of agricultural equipment- with its eSourcing, SRM and PLM solution. As they wanted a platform that could work globally, and mature enough to support and drive collaboration within a production material environment, SynerTrade Accelerate was the perfect match.
And this trend is not only limited to the US, but also global with high growth rates in Europe, South America and the MiddleEast. Globally, the first quarter has been very successful for the eProcurement provider with 33% revenue growth.