Synygy was a private company with its worldwide headquarters in
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
and its US headquarters in
Chester, Pennsylvania
Chester is a city in Delaware County, Pennsylvania, United States. Located within the Philadelphia Metropolitan Area, it is the only city in Delaware County and had a population of 32,605 as of the 2020 census.
Incorporated in 1682, Chester is ...
, USA. It provided
consulting
A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization.
Consulting servic ...
,
technology
Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, ...
, and
outsourcing
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and ...
services related to
incentive compensation management and
sales performance 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 net sales through the sale of products and ser ...
, 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, 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
Janssen Pharmaceuticals is a pharmaceutical company headquartered in Beerse, Belgium, and wholly-owned by Johnson & Johnson. It was founded in 1953 by Paul Janssen.
In 1961, Janssen Pharmaceuticals was purchased by New Jersey-based American c ...
, and
Wyeth-Ayerst
Wyeth, LLC was an American pharmaceutical company. The company was founded in Philadelphia, Pennsylvania, in 1860 as ''John Wyeth and Brother''. It was later known, in the early 1930s, as American Home Products, before being renamed to Wyeth in ...
. 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, the ...
, Manufacturing and Distribution,
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...
,
Banking
A bank is a financial institution that accepts 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 markets.
Because ...
,
Financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
,
Telecommunications
Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...
,
High-Tech
High technology (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 the newest te ...
, 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 hedge ...
(Health, Life, Property & Casualty).
Synygy targeted companies with complex challenges related to sales data integration 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 an Irish-American professional services company based in Dublin, specializing in information technology (IT) services and consulting. A ''Fortune'' Global 500 company, it reported revenues of $61.6 billion in 2022. Accentur ...
, CallidusCloud, Alexander Group,
Aon Hewitt
Aon Hewitt (formerly known as Hewitt Associates) was a provider of human capital and management consulting services headquartered in Lincolnshire, Illinois in the United States. From 500 offices in 120 countries, it provided consulting, outsour ...
,
Bain & Company
Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and non-profit organizations. One of the Big Three management consultancies, Bain & Company was fou ...
, 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 (or MBB, the world’s three largest management consulting firms by rev ...
, Buck, Canidium, Colletti-Fiss, Cygnal Group,
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...
, KPMG,
McKinsey & Company
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and ...
,
Mercer
Mercer may refer to:
Business
* Mercer (car), a defunct American automobile manufacturer (1909–1925)
* Mercer (consulting firm), a large human resources consulting firm headquartered in New York City
* Mercer (occupation), a merchant or trader ...
, OpenSymmetry, Sibson,
Towers Watson
Towers Watson & Co. was a global professional services firm. Its principal lines of business were risk management and human resource consulting. It also had actuarial and investment consulting practices.
In January 2016, Towers Watson merged wi ...
, 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 e ...
in
civil engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads, bridges, canals, dams, airports, sewage ...
, a
master's degree
A master's degree (from Latin ) is an 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 practice. 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 peop ...
, and a master's degree in
business administration
Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of management ...
, all from the
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...
(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 (United States), Mid-Atlantic region of the United States. From the meeting of its branches in Hancock (village), New York, Hancock, New York, the river flows for along the borders of N ...
. 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. Improvinsales effectivenessis n ...
*
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 net sales through the sale of products and ser ...
*
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 ...
*
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 o ...
*
Performance Management
Performance management (PM) is the process of ensuring that a set of activities and outputs meets an organization's goals in an effective and efficient manner. Performance management can focus on the performance of a whole organization, a d ...
*
Sales Force Automation
Salesforce management systems (also ''sales force automation systems'' (SFA)) are information systems used in customer relationship management (CRM) marketing and management that help automate some sales and sales force management functions. The ...
*
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