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Basware vs Synertrade

Last Updated: November 18th, 2024

Our analysts compared Basware 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

Basware offers networked source-to-pay tools, e-invoicing, analytics and value added services. It facilitates automated operations and management, spend and supply chain visibility, supplier management, early payment discounts and more. It helps reduce paperwork, save time and effort spent in manual work, boosts working capital and enhances business ROI. It serves B2B companies of all sizes and industries.

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.

$15,000/Invoice Transaction, Annually

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Small

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Large

Small

Medium

Large

Windows

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Chromebook

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Chromebook

Cloud

On-Premise

Mobile

Cloud

On-Premise

Mobile

Product Assistance

Documentation

In Person

Live Online

Videos

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Documentation

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Live Online

Videos

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FAQ

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Knowledge Base

24/7 Live Support

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24/7 Live Support

Product Insights

Eliminates Paperwork: Reduces paperwork by digitizing all operations starting from point of order placement to payment.
Increases Visibility: Offers complete visibility for spend, suppliers, buyers and the supply chain.
Saves Time and Effort: Streamline work using AI and machine learning, which help automate manual tasks such as invoicing, account payable management and other day-to-day tasks.
Boosts Working Capital and Cash Flow Visibility: Improves the flow of payments through early payment discounts offered to suppliers for releasing payments quickly. Adoption of e-invoices improves cash flow visibility.
Strengthens Supplier Relationships: Offers tools for supplier registration, pre-approved workflows and questionnaires to evaluate supplier performance management and help improve relationships with suppliers.

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.

Procure-to-Pay: Offers automation for several features including point of order, purchasing, receiving and payments, accounting and more.
- Analytics: Provides access to spend and helps identify opportunities, optimize cash flow and make strategic, data-driven decisions.
- AI and Machine Learning: Replaces manual tasks, captures invoices, performs data extractions, saves time and reduces the probability of errors.
- Support Services: A customer care team of dedicated support specialists assists with identifying and resolving issues, as well as modifying business processes. Other features include customer service management that enables continuous improvements in organizational processes and offers several supplier enablement tools.
- Source-to-Pay: Supports strategic contract lifecycle management and sourcing to strengthen vendor relationships along with negotiation stages. Also offers electronic purchase requisition procurements, validation of invoice receipts and discount management on early payment.
AP Automation:
- Discount Management: Several tools support supplier activation, automation, analytics and dynamic discounting to carry out discount management with ease.
Network:
- E-Invoicing for Buyers: Connects users with suppliers to let them share invoices electronically. Receive invoices in any format such as XML, EDI, PDF or paper, which the solution converts to deliver as an electronic invoice.
- E-Invoicing for Suppliers: Receive POs and share invoices with buyers electronically. Ensures compliance and global operations. Improves transaction status visibility and timely payment performance.
- Network Interoperability: Provides open network interoperability with 220+ e-invoicing network partners globally. Includes country-specific networks as well.
E-Procurement:
- Marketplace: Connect with suppliers through punchouts and catalogs to facilitate guided purchasing, e-procurement, price negotiations, supplier collaborations and more.
- Strategic Sourcing: Helps conduct and manage electronic auctions, collect, store and evaluate supplier information, manage projects and contracts, and onboard suppliers easily and quickly.
Supplier Management: Enables centralized visibility over supplier information, with automated updating in real time. Includes end-to-end visibility for each supplier’s performance and facilitates timely receipt of payments.
Working Capital: Leverage automated and integrated visibility into spending, a variety of discount programs for receipt of early payments, dynamic discounting and more.
Travel and Expense Management: Submit travel plans for approval before reservations and capture, claim and take actions on submitted expenses and reports at any time via the mobile app.

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.

Product Ranking

#6

among all
Procurement Software

#17

among all
Procurement Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Basware

Synertrade

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88%

12%

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87%

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100%

83%

17%

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56%

44%

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60%

40%

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29%

71%

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83%

17%

90%

10%

80%

20%

92%

75%

25%

80%

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31%

69%

62%

30%

77%

23%

80%

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50%

83%

17%

60%

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71%

29%

85%

15%

Analyst Ratings for Technical Requirements Customize This Data Customize This Data

67%

33%

67%

33%

50%

User Sentiment Summary

85%

of users recommend this product

Basware has a 'great' User Satisfaction Rating of 85% when considering 289 user reviews from 4 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.

4.0 (110)

n/a

3.9 (22)

n/a

4.5 (139)

4.3 (30)

4.0 (18)

n/a

Synopsis of User Ratings and Reviews

Implementation: All reviews on the topic suggest that it’s extremely simple and affordable to implement.

User Interface: The software has a clean, interactive and user-friendly interface, according to 100% of reviews on this aspect.

Easy to Learn: Every reviewer mentioning this aspect agrees that it’s quite easy to learn and adapt to, without any technical training.

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.

Program Lags: The software may lag or freeze sometimes while transferring multiple invoices at once, according to all reviews on this aspect.

Support Ticket: Ticket and issue management is slow sometimes, as all reviews on the quality of support suggest.

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.

Basware is a solution for companies looking for source-to-pay tools, e-invoicing, analytics and value-added services. It is easy to learn, which is a prominent advantage of the suite. Reviews suggest that it is easy and affordable to install as well. However, the program lags sometimes when transfering a lot of invoices at the same time. Support resolution is also slow according to user reviews. Altogether, it’s a fine choice for B2B companies looking for a purchase-to-pay and e-invoicing solution with a user-friendly interface and affordable price.

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.

Screenshots

Top Alternatives in Procurement Software

Basware P2P

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Coupa Procurement

GEP SMART

Ivalua

JAGGAER ONE

Oracle Procurement Cloud

Precoro

Procurify

Proqura

SAP Spend Management

Synertrade

Tradogram

Workday Spend Management

Zycus

Related Categories

Procure To Pay Software

Purchasing Software

SRM Software

Strategic Sourcing Software

Procure To Pay Software

Purchasing Software

Strategic Sourcing Software

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FAQ

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