SynerTrade: Vendor Analysis (Part 2) — Product Strengths and Weaknesses

Even though the procurement technology suite market is less than two decades old, we're still in an era where there are only a handful of end-to-end source-to-pay providers that are well established and reasonably mature. These providers are not equal by a long shot, each bringing different strengths and weaknesses. And there are some gaps that have not yet been filled (e.g., a “Nimble” buying persona suite).

SynerTrade, a procurement technology suite provider, is an example of a firm contributing to the breakneck pace of recent innovation in the source-to-pay suite market — and one that may yet fill the “Nimble” suite need. Providers in this formerly slow-moving technology market are now developing solutions more quickly than ever before, introducing and fully fleshing out new capabilities and technologies over quarters, not multiple years or decades.

This Spend Matters PRO Vendor Snapshot explores SynerTrade’s strengths and weaknesses, providing facts and expert analysis to help procurement organizations decide whether they should consider the provider. Part 1 of our analysis provided a company and detailed solution overview, as well as a recommend fit list of criteria for firms considering SynerTrade. The third part of this series will offer a SWOT analysis, user selection guide, competitive alternatives, and additional evaluation and selection considerations.