Synygy was a private company with its worldwide headquarters in
Singapore
Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
and its US headquarters in
Chester, Pennsylvania
Chester is a city in Delaware County, Pennsylvania, United States. It is located in the Philadelphia metropolitan area (also known as the Delaware Valley) on the western bank of the Delaware River between Philadelphia and Wilmington, Delaware. ...
, USA. It provided
consulting
A consultant (from "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice or services in an area of specialization (generally to medium or large-size corporations). Cons ...
,
technology
Technology is the application of Conceptual model, conceptual knowledge to achieve practical goals, especially in a reproducible way. The word ''technology'' can also mean the products resulting from such efforts, including both tangible too ...
, and
outsourcing
Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another ...
services related to
incentive compensation management and
sales performance management, with a focus on for sales strategy enablement, sales force motivation, sales channel effectiveness, and sales performance insight.
The company was founded by Mark A. Stiffler in 1991. Originally named Simulate, it was renamed Synygy in 1997. Synygy was one of the earliest vendors to enter the Incentive Compensation Management (ICM) space, initially in the provision of ICM outsourcing services in 1993, followed by the creation of ICM software products starting in 2002. ICM became the foundation of what is now known as Sales Performance Management.
In 2009, Synygy began using third-party products to deliver its services, and the company exited the software development business. In 2014, Synygy informed its clients that it would be ending support for its software. In 2015, Synygy ceased selling
professional services Professional services are occupations in the service sector requiring special training in liberal arts and pure sciences education or professional development education. Some professional services, such as architects, accountants, engineers, d ...
, and by the end of 2015, the company had ceased operations.
Clients
Synygy's first three clients were the pharmaceutical companies
Schering-Plough
Schering-Plough Corporation was an American pharmaceutical company. It was originally the U.S. subsidiary of the German company Schering AG, which was founded in 1851 by Ernst Christian Friedrich Schering. As a result of nationalization, it becam ...
,
Janssen Pharmaceutica
Johnson & Johnson Innovative Medicine (formerly Janssen Pharmaceuticals) is a Belgian pharmaceutical company headquartered in Beerse, Belgium, and wholly owned by Johnson & Johnson. It was founded in 1953 by Paul Janssen.
In 1961, Janssen Ph ...
, and
Wyeth-Ayerst
Wyeth Pharmaceuticals Inc. was a pharmaceutical company until it was purchased by Pfizer in 2009. The company was founded in Philadelphia, Pennsylvania, in 1860 as John Wyeth and Brother. Its headquarters moved to Collegeville, Pennsylvania, a ...
. During its 25 years in business, Synygy served nearly all industries, including
Life Sciences
This list of life sciences comprises the branches of science that involve the scientific study of life – such as microorganisms, plants, and animals including human beings. This science is one of the two major branches of natural science, ...
, Manufacturing and Distribution,
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...
,
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
,
Financial services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...
,
Telecommunications
Telecommunication, often used in its plural form or abbreviated as telecom, is the transmission of information over a distance using electronic means, typically through cables, radio waves, or other communication technologies. These means of ...
,
High-Tech
High technology (high tech or high-tech), also known as advanced technology (advanced tech) or exotechnology, is technology that is at the cutting edge: the highest form of technology available. It can be defined as either the most complex or ...
, and
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...
(Health, Life, Property & Casualty).
Synygy targeted companies with complex challenges related to sales
data integration
Data integration refers to the process of combining, sharing, or synchronizing data from multiple sources to provide users with a unified view.
There are a wide range of possible applications for data integration, from commercial (such as when a ...
and transformation, sales incentive compensation management, quota and objectives setting, territory management, sales workflow process automation, and sales business intelligence and analytics. The company did not sell to governments or smaller companies.
Competitors
Synygy competed with professional services companies that include
Accenture
Accenture plc is a global multinational professional services company originating in the United States and headquartered in Dublin, Ireland, that specializes in information technology (IT) services and management consulting. It was founded in 1 ...
, CallidusCloud, Alexander Group,
Aon Hewitt,
Bain & Company
Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and nonprofit organizations. One of the Big Three (management consultancies), Big Three management co ...
, Better Sales Comp,
Boston Consulting Group
Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the "Big Three (management consultancies), Big Three" (or MBB, the world's three large ...
, Buck, Canidium, Colletti-Fiss, Cygnal Group,
Deloitte
Deloitte is a multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along wi ...
,
KPMG
KPMG is a multinational professional services network, based in London, United Kingdom. As one of the Big Four accounting firms, along with Ernst & Young (EY), Deloitte, and PwC. KPMG is a network of firms in 145 countries with 275,288 emplo ...
,
McKinsey & Company
McKinsey & Company (informally McKinsey or McK) is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinse ...
,
Mercer
Mercer may refer to:
Business
* Mercer (automobile), a defunct American automobile manufacturer (1909–1925)
* Mercer (consulting firm), a human resources consulting firm headquartered in New York City, US
* Mercer (occupation), a merchant or tra ...
, OpenSymmetry, Sibson,
Towers Watson
Towers Watson & Co. was a global professional services firm that provided risk management services, human resource consulting, actuarial services, and investment management
Investment management (sometimes referred to more generally as fina ...
, Valitus, and ZS Associates.
Founder
Synygy's founder, Mark Stiffler, holds an
undergraduate degree
An undergraduate degree (also called first degree or simply degree) is a colloquial term for an academic degree earned by a person who has completed undergraduate courses. In the United States, it is usually offered at an institution of higher ed ...
in
civil engineering
Civil engineering is a regulation and licensure in engineering, professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads ...
, a
master's degree
A master's degree (from Latin ) is a postgraduate academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional prac ...
in
management information systems
A management information system (MIS) is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves peo ...
, and a master's degree in
business administration
Business administration is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization.
Overview
The administration of a business includes the performance o ...
, all from the
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a Private university, private research university in Cambridge, Massachusetts, United States. Established in 1861, MIT has played a significant role in the development of many areas of moder ...
(MIT).
US Headquarters
Starting in 2005, Synygy's US headquarters was situated in a
Beaux Arts-style building (c. 1918) along the
Delaware River
The Delaware River is a major river in the Mid-Atlantic region of the United States and is the longest free-flowing (undammed) river in the Eastern United States. From the meeting of its branches in Hancock, New York, the river flows for a ...
. The building once was the
Chester Waterside Power Station, which was described by the Historic American Buildings Survey as one of the best-preserved and most monumental early power plants in the United States.
The facility, which stopped producing power in 1982, was unoccupied for nearly two decades.
See also
*
Sales effectiveness Sales effectiveness refers to the ability of a company's sales professionals to “win” at each stage of the customer's buying process, and ultimately earn the business on the right terms and in the right timeframe. Improving sales effectiveness ...
*
Sales management
Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as Sales (accounting), net sales, through the sa ...
*
Sales operations
Sales operations is a set of business activities and processes that help a sales organization run effectively, efficiently and in support of business strategies and objectives. Sales operations may also be referred to as sales, sales support, or b ...
*
Pay for performance (human resources)
Performance-related pay or pay for performance, not to be confused with performance-related pay rise, is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform. Car salesmen ...
*
Performance Management
Business performance management (BPM) (also known as corporate performance management (CPM) enterprise performance management (EPM),) is a management approach which encompasses a set of processes and analytical tools to ensure that a business o ...
*
Sales Force Automation
Sales force management systems (also sales force automation (SFA) systems) are information systems used in customer relationship management (CRM) marketing and management that help automate some sales and sales force management functions. They a ...
*
Sales Force Compensation
References
{{Reflist, 2
External links
http://www.synygy.com
Companies based in Philadelphia
Technology companies established in 1991
International management consulting firms
International information technology consulting firms