Synygy

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'''Synygy''' was a private company with its worldwide headquarters in Singapore and its US headquarters in Chester, Pennsylvania, USA. It provided consulting, technology, and outsourcing services related to incentive compensation management<ref>{{cite web|last= Canaday|first=Henry |title= Incentivized to Win |url=http://www.sellingpower.com/content/article/?a=9936/incentivized-to-win&page=3|publisher= Selling Power Magazine|accessdate=18 February 2014}}</ref> and sales performance management,<ref>{{cite web|last=Sluis|first=Sarah|title=Sales Management Tools and Trends to Watch: How to transform selling through coaching, collaboration technology, and sales analytics|url=http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/Sales-Management-Tools-and-Trends-to-Watch-94374.aspx|publisher=CRM Magazine|accessdate=18 February 2014}}</ref><ref>{{cite web|last= Smith|first=Mark |title= Beyond Automation. Don't just automate processes: Work on improving their effectiveness |url=http://www.informationweek.com/software/information-management/beyond-automation/d/d-id/1026924|publisher= Information Week |accessdate=18 February 2014}}</ref><ref>{{cite web|last= Smith|first=Mark |title= Synygy Simplifies Mobility of Sales Performance Management |url=http://www.information-management.com/blogs/sales_performance_management-10016123-1.html|publisher= Information Management|accessdate=18 February 2014}}</ref> 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.<ref>{{cite web|last=Mccarthy|first=T.J.|title=Synygy growing sales by selling sales data|url=http://www.bizjournals.com/philadelphia/stories/1998/10/19/focus12.html?page=all|publisher=Philadelphia Business Journal|accessdate=18 February 2014}}</ref> Originally named Simulate, it was renamed Synygy in 1997.<ref>{{cite web|title= Company Overview of Synygy, Inc|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=103556|archive-url=https://web.archive.org/web/20090914001415/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=103556|url-status=dead|archive-date=September 14, 2009|publisher= Businessweek.com |accessdate=18 February 2014}}</ref> 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, Janssen Pharmaceutica, and Wyeth-Ayerst.<ref>{{cite web|last=Mccarthy|first=T.J.|title=Synygy growing sales by selling sales data|url=http://www.bizjournals.com/philadelphia/stories/1998/10/19/focus12.html?page=all|publisher=Philadelphia Business Journal|accessdate=18 February 2014}}</ref> During its 25 years in business, Synygy served nearly all industries, including Life Sciences, Manufacturing and Distribution, Retail, Banking, Financial services, Telecommunications, High-Tech, and Insurance (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. {{citation needed|date=June 2020}}

== Competitors ==

Synygy competed with professional services companies that include Accenture, CallidusCloud, Alexander Group, Aon Hewitt, Bain & Company, Better Sales Comp, Boston Consulting Group, Buck, Canidium, Colletti-Fiss, Cygnal Group, Deloitte, KPMG, McKinsey & Company, Mercer, OpenSymmetry, Sibson, Towers Watson, Valitus, and ZS Associates.<ref>{{cite web|title= Spotlight on Sales Compensation | url =http://www.worldatwork.org/salescompspotlight/html/scheduleglance.jsp |publisher= World at Work |accessdate=21 February 2014}}</ref><ref>{{cite web|title= Incentive Systems Product Review: Dangling The Carrot – And Making It Stick! | url =http://www.hr.com/SITEFORUM?&t=/Default/gateway&i=1116423256281&application=story&active=no&ParentID=1119278025992&StoryID=1119641980093&xref=https%3A//www.google.com/|publisher= HR.com, June 12, 2000|accessdate=21 February 2014}}</ref><ref>{{cite web|last= Sluis|first= Sarah |title= Sales Management Tools and Trends to Watch: How to transform selling through coaching, collaboration technology, and sales analytics. | url =http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/Sales-Management-Tools-and-Trends-to-Watch-94374.aspx|publisher= CRM Magazine |accessdate=18 February 2014}}</ref><ref>{{cite web|last= Radding |first= Alan |title= Sales Performance Management Market Heats Up. | url= http://businessfinancemag.com/blog/sales-performance-management-market-heats|publisher= Business Finance Magazine, May 25, 2012|accessdate=18 February 2014}}</ref>

== Founder ==

Synygy's founder, Mark Stiffler, holds an undergraduate degree in civil engineering, a master's degree in management information systems, and a master's degree in business administration, all from the Massachusetts Institute of Technology (MIT).<ref>{{cite web|last=Mccarthy|first=T.J.|title=Synygy growing sales by selling sales data|url=http://www.bizjournals.com/philadelphia/stories/1998/10/19/focus12.html?page=all|publisher=Philadelphia Business Journal|accessdate=18 February 2014}}</ref>

== US Headquarters ==

Starting in 2005, Synygy's US headquarters was situated in a Beaux Arts-style building (c. 1918) along the Delaware River.<ref>{{cite web|title=Synygy|url= http://www.chesteryes.com/BUSINESS_Comm_Synygy.shtml#|publisher= Chester Institute for Economic Development, 2005|accessdate=18 February 2014}}</ref> 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.<ref>{{cite web|title= Case History, The Wharf at Rivertown | url= http://www.chesteryes.com/PDF/RivertownWharf.pdf|publisher= Chester Institute for Economic Development, 2005|accessdate=18 February 2014|archive-url=https://web.archive.org/web/20140512214433/http://www.chesteryes.com/PDF/RivertownWharf.pdf|archive-date=12 May 2014|url-status=dead}}</ref> The facility, which stopped producing power in 1982, was unoccupied for nearly two decades.

== References ==

== External links == * [https://web.archive.org/web/20170303054214/https://www.synygy.com/ Archived website]

Category:Companies based in Philadelphia Category:Technology companies established in 1991 Category:International management consulting firms Category:International information technology consulting firms

Synygy

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