From foundation to innovation: Our history as a company

Procurement has always been a crucial business function, but its role has evolved beyond its traditional focus from solely cost savings and finding the ‘best deal’. In the modern day, procurement can transform business reputation, regulation compliance and risk management. However, as procurement has developed to meet business needs, Synertrade has evolved in parallel. To understand our business proposition, an insight into our history will provide a clearer understanding of what we do and why we do it.

The Origins: Pioneers in Purchasing Software

 While we have evolved as a business to meet the needs of modern procurement professionals, our roots lie in delivering a suite of tools to optimise spending. Our formation as a company derives from the merger between SynerDeal and Trade2B. Founded in 1999, Trade2B focused on software and integration services that streamline the purchasing process. A year later, SynerDeal was founded as an operational e-sourcing consultancy.

The two businesses shared a strategic vision and specialisation in the e-sourcing market, in particular, defining requirements, tendering, and supplier selection. In 2005, the two companies came together to create SynerTrade, which enabled a consolidation of the companies’ market positions and extended international coverage to drive business growth.

Accelerating Growth in Digital Procurement

Innovation has always been at the core of our strategy. However, in August 2015, we entered a new chapter of growth when we were acquired by Digital Dimension, a subsidiary of the Econocom Group. As part of the acquisition, Digital Dimension provided Synertrade with the necessary resources to both accelerate its expansion in the digital procurement space and extend its global reach. At the same time, this transition fitted into Econocom’s broader business vision of driving digital transformation into multiple industries.

 As Digital Dimension’s evolution began, it rebranded to become the Digital Mobility Services (DMS) division of Econocom, shifting the company’s market towards mobile device management, digital workspace solutions and cloud services. However, recognising Synertrade’s strategic value, Econocom moved Synertrade out of the DMS division and into its digital solutions portfolio, positioning Synertrade at the forefront of innovation.

Empowering Businesses Today

 Our journey has been full of continuous evolution and strategic growth. Even from our early days, innovation has been at our core and it has laid the foundation for us to succeed. Today, we help businesses use insight from supplier data to deliver best in class procurement outcomes. Ultimately, our platform helps identify ‘synergies’ in your ‘trade’ for a more streamlined spending process. As procurement continues to evolve, we look forward to embarking on the next phase of our journey and the opportunities and challenges that lie ahead.