Ivalua vs Synertrade

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Our analysts compared Ivalua vs Synertrade based on data from our 400+ point analysis of Procurement Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Ivalua is a comprehensive software solution designed to streamline procurement processes for organizations. It is particularly well-suited for large enterprises and organizations looking to optimize their procurement and supply chain operations. One of the key benefits of Ivalua is its ability to provide a centralized platform for managing procurement tasks, which helps in enhancing efficiency and reducing costs. The software is popular for features such as supplier management, contract management, and spend analysis, which collectively contribute to making informed purchasing decisions. When compared to similar products in the market, users often highlight Ivalua's user-friendly interface and the flexibility it offers in customizing the platform to meet specific organizational needs. Pricing considerations for Ivalua typically involve a subscription model, which may vary based on the size of the organization and the specific features required, making it important for potential users to inquire directly for tailored pricing information.
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Synertrade Accelerate is a cloud-based solution that helps optimize the purchasing process. Users can oversee the entire procurement process, from managing suppliers to sending invoices. It includes features like spend analysis, procurement management, contract lifecycle management, catalog management, purchase requisitions, supplier enrichment, onboarding and more. It offers services in over 20 languages worldwide.
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$150,000 Annually
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Tailored to your specific needs
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Product Assistance

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Product Insights

  • Simplified Integrations: Maintain complete transaction transparency while seamlessly integrating with popular SAP and ERP systems and other web-based applications. Manage data and ensure a seamless workflow by automating integration processes. 
  • Automate Tasks: Maximize supplier engagement by automating tasks and invoicing processes while aiming for high user adoption. 
  • Improved Collaboration: Facilitate workflow-enabled, secure collaboration that helps unlock supplier-led innovation, improves sustainability and easily integrates with communication tools and other information sharing technologies. 
  • Access Remotely: Utilize all the main features of the desktop version and connect to business operations, irrespective of location. 
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  • Cost Reduction: Synertrade enables organizations to significantly lower procurement expenses by automating and optimizing the sourcing process, leading to better negotiation outcomes and volume discounts.
  • Enhanced Efficiency: By automating routine procurement tasks, Synertrade frees up valuable time for procurement teams, allowing them to focus on strategic decision-making rather than administrative duties.
  • Improved Spend Visibility: Synertrade provides comprehensive insights into company spending patterns, enabling businesses to identify cost-saving opportunities and make informed purchasing decisions.
  • Risk Management: With its supplier management capabilities, Synertrade helps companies mitigate risks by ensuring compliance and monitoring supplier performance, thus safeguarding against supply chain disruptions.
  • Strategic Sourcing: Synertrade facilitates a more strategic approach to sourcing by providing tools for market analysis, supplier evaluation, and contract management, ensuring the best value for procurement activities.
  • Compliance and Control: The software ensures that procurement processes adhere to company policies and external regulations, reducing the risk of non-compliance and enhancing internal controls.
  • Collaborative Platform: Synertrade fosters collaboration between internal stakeholders and suppliers, streamlining communication and making the procurement process more transparent and efficient.
  • Data-Driven Decisions: With advanced analytics and reporting capabilities, Synertrade empowers businesses to make data-driven decisions, optimizing procurement strategies for better outcomes.
  • Scalability: Synertrade's flexible architecture allows it to scale with a business's growth, accommodating an increasing number of suppliers and transactions without compromising performance.
  • Global Capabilities: Designed for global operations, Synertrade supports multiple languages and currencies, enabling seamless international procurement activities.
  • Innovation and Continuous Improvement: Synertrade is committed to innovation, regularly updating its platform with new features and technologies to address evolving procurement challenges and enhance user experience.
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  • Source to Pay: Generate, observe and estimate value by internally connecting the S2P process for the complete operation. Cover all bases, from gaining maximum visibility to generating value, improving performance and developing a secure supplier base. 
    • Supplier Risk & Performance Management: Discover, onboard, manage and collaborate with suppliers to assign contracts while assessing risk data within a centralized, digitized space. Automate processes for real-time tracking to gain insights on categorized suppliers as per their risk types and resolve issues while following a streamlined workflow. 
    • Sourcing: Discover, track and source key suppliers and ensure contract compliance by accessing detailed insights using market research and contractual negotiations. 
    • Contract Management: Create, manage and negotiate contracts while collaborating across all facets and gaining maximum visibility. Access guided contract requests and automate processes by updating the contract repository. 
    • eProcurement: Digitize and optimize workflows, ensuring compliance while managing spend categories. Streamline purchase orders and update product catalogs while collaborating with suppliers. Control, manage and track budgets while analyzing real-time spend trends and data analytics. 
    • Invoicing: With features like one-click approvals, smart four-way matching and invoice automation, help create a streamlined invoicing process. Access eArchives for a lifetime reserve of invoices while seamlessly integrating into financial applications. 
    • Payments: Access real-time payment updates, transaction tracking and maximum visibility by enabling operational transparency in the supplier payment process. Minimize errors and frauds and grant B2B payments among cross-borders and domestic suppliers with full reconciliation. 
    • Spend Analysis: Generate personalized report analyses and ad-hoc and targeted KPIs to foster actionable insights. Access comprehensive reports and analytics based on sourcing, spend analysis, productivity, invoicing and accounts payable. 
  • Procure to Pay: Eliminate inconsistent data, maximize visibility and reduce unusual spending by digitizing the P2P process. Experience touchless, four-way smart matching along with invoice automation. 
  • Inventory Collaboration: Optimize and replenish stocks based on preset limits. Collaborate with suppliers and gain complete visibility across all inventory levels, from stock distribution to their locations. 
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  • Spend Analytics: Gather and store data on spend, orders and invoicing. Analyze, process, classify and consolidate data, and access reports to track expenses. Visualize and personalize reports, export to MS Excel, and create and share presentations. 
  • Product Management: Maintain, add and search product or services documents and data in a database, as well as approve and reject updates. Databases can sync with e-sourcing, CLM and P2P processes. 
  • E-Sourcing: Gather requirements and use templates to create an RFI, RFP and RFQ. Get quotes from suppliers, conduct reverse auctions, analyze responses and initiate contracts. 
  • Contract Lifecycle Management: Store, share and search for contracts from a single repository, manage the lifecycle of all contracts, and revise and analyze them internally or with suppliers. Sign contracts using digital signatures and increase compliance. 
  • S2C Intelligence: Identify opportunities using multi-dimensional reports, browse data, customize reports and export or broadcast them. 
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Product Ranking

#9

among all
Procurement Software

#17

among all
Procurement Software

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Analyst Rating Summary

85
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75
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Dashboard and Reporting
Platform Capabilities
Platform Security
Sourcing
Supplier Management
Supplier Management

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Ivalua
Synertrade
+ Add Product + Add Product
Budget Management Contract Management Dashboard And Reporting Invoice Management Mobile Capabilities Native Integration And Extensibility Platform Capabilities Product Catalog Purchase Orders Management Receiving And Inventory Management Requisitions Sourcing Spend Management Supplier Management 75 88 100 86 80 90 100 90 86 61 90 100 88 100 11 74 83 51 60 30 82 80 73 29 82 50 69 85 0 25 50 75 100
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

67%
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User Sentiment Summary

Excellent User Sentiment 96 reviews
Great User Sentiment 30 reviews
92%
of users recommend this product

Ivalua has a 'excellent' User Satisfaction Rating of 92% when considering 96 user reviews from 3 recognized software review sites.

86%
of users recommend this product

Synertrade has a 'great' User Satisfaction Rating of 86% when considering 30 user reviews from 1 recognized software review sites.

4.1 (18)
n/a
3.8 (6)
n/a
4.8 (72)
4.3 (30)

Awards

SelectHub research analysts have evaluated Ivalua and concluded it earns best-in-class honors for Supplier Management. Ivalua stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award
Supplier Management Award

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Synopsis of User Ratings and Reviews

Source-to-Pay Digitization: Streamlines the entire procurement process, from sourcing and supplier management to contract management and invoicing, into a single digital platform.
Spend Visibility: Provides comprehensive insights into spending patterns, allowing for better cost control and identification of saving opportunities.
Supplier Management: Offers robust tools for onboarding, evaluating, and collaborating with suppliers, fostering stronger relationships and improved performance.
Contract Management: Simplifies contract creation, negotiation, and execution, ensuring compliance and mitigating risks.
Customization: Adapts to specific business needs and workflows, providing a tailored procurement solution.
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Easy to Use: According to all users mentioning this aspect, the system is very easy to use and doesn’t require training.
Customization: Every reviewer referring to this feature observes that the system can be tailored to their requirements.
Customer Support: The service team is always available and quick to respond, according to all reviews referring to this aspect.
Implementation: The system is easy to implement, according to 75% of users mentioning this element.
Procure-to-Pay: The procure-to-pay system is robust and flexible, as all the reviews on this feature note.
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Complex User Interface: The platform's interface can be overwhelming for new users due to its extensive features and functionalities. This complexity can lead to a steep learning curve and require significant training investment for effective adoption.
Customization Challenges: While Ivalua offers a high degree of customization, implementing and managing these customizations can be technically demanding. Organizations may require specialized IT expertise or external consultants to tailor the platform to their specific needs, potentially increasing implementation costs and timelines.
Reporting Limitations: Generating reports and extracting insights from data within Ivalua can be cumbersome. Users often find the reporting tools to be less intuitive and flexible compared to dedicated business intelligence platforms, making it challenging to gain comprehensive visibility into procurement performance.
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Interface: The interface is clunky and has bugs in the experience of 60% of users mentioning this aspect.
Maintenance Services: All the reviewers mentioning this feature indicate there’s a need to improve it for more speed and accuracy.
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Ivalua receives praise for its robust functionality and adaptability to complex procurement processes. Users appreciate its ability to handle intricate sourcing events, contract management, and supplier collaboration. Its strength lies in providing a comprehensive suite of tools that streamline procurement operations, from requisition to payment. However, some users note that Ivalua's extensive features can lead to a steeper learning curve, requiring dedicated training and support. Compared to competitors like Coupa and Jaggaer, Ivalua stands out with its focus on configurability and scalability, making it suitable for large enterprises with diverse procurement needs. This adaptability is crucial for organizations with global operations or intricate supply chains. Users highlight Ivalua's ability to integrate with existing ERP systems and its user-friendly interface as key differentiators. While the initial setup may require effort, the long-term benefits of a tailored procurement solution make Ivalua a worthwhile investment for organizations seeking to optimize their procurement processes and achieve cost savings.

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Synertrade is an easy-to-use procurement system that helps streamline and manage the entire purchasing process. It offers quick customer support, along with easy customization and implementation. Users also appreciate how flexible and robust the procure-to-pay functionality is. However, the interface is clunky and has bugs, and the maintenance services require improvement to provide greater accuracy. Overall, it’s a good choice for companies looking for a user-friendly and customizable system with catalog management.

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Screenshots

Top Alternatives in Procurement Software


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