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Press Release

Synertrade, the Purchasing specialist and Econocom subsidiary finishes another record year in 2018. Boosted by the mega-trend digital transformation, Synertrade has been able to sign more than 60 new enterprise deals in 2018.

The double digit growth success story continues in 2018 and will climb to new heights in 2019. Especially spectacular is the success in North-America, where the company has doubled sales in 2018 and has signed a strong future business back-log.

But also the recently created subsidiaries in Italy and Iberica outpace the general market development. Similarly, there has been a double digit new business increase in the existing markets France, Germany, Switzerland, Austria and Nordics. Synertrade has also made a success of its Middle East launch, winning business against legacy eProcurement players in this area. Last but not least, Synertrade has been selected for major projects also in the People Republic of China (e.g. PowerChina), Poland and Malaysia.

What is behind the success? Synertrade is one of the few credible global “Source2Pay” solution providers, listed both in the Gartner Magic Quadrant Source2Contract and in the Gartner MagicQuadrant Procure2Pay. Synertrade is recognized for its huge R&D investment and by being one of the few remaining fully organically developed complete end to end solutions on the market. A leading consulting company has recently rated Synertrade to be the globally best “Source2Pay” solution as a result of a multi-month global research project presented at the international Procurecon conference in Prague.

CEO Eberhard Aust comments that he “is happy to see European software companies such as Synertrade,
successfully gaining market share around the world”.

Dr Eberhard Aust adds: “I am confident to achieve more than 30% revenue growth this year. 2019 is a year where we go back to our roots – putting the customer into the center of our roadmap.” R&D efforts will include new improved versions of “Service Procurement,” “Direct-Materials-Handling” and “Procurement Planning.” Another major focus will be made on AI, RPA and predictive procurement, where we will launch a massive investment at our Core-Development Site in Kronstadt that has recently been expanded with new staff and office space to centralize our R&D.”

Synertrade employs in Kronstadt more than 110 FTE and is present via own subsidiaries, distributors and its mother company Econocom in more than 20 countries.