Zip Adds Enterprise Capabilities to Procurement Platform

Zip has added new enterprise capabilities to its intake and procurement orchestration platform and intake-to-pay suite.

This new suite of capabilities called Zip Premier is designed to help businesses manage compliance, strengthen integrations with other tools and scale faster, the company said in a Wednesday (April 3) press release.

“Developed alongside our largest enterprise customers, our new capabilities streamline the entire spending process, delivering enterprise-grade performance with consumer-grade flexibility so our customers can drive compliance and scale with speed,” Rujul Zaparde, CEO and co-founder of Zip, said in the release.

Zip Premier features more granular permissions that help users enforce controls, comprehensive audit trails that help them stay audit-ready, and automated integration monitoring and real-time alerts that help them increase visibility and control, according to the release.

The new suite of enterprise capabilities also includes a catalog of more than 100 pre-designed purchasing workflow templates based on best practices from global enterprise customers, the release said. The Orchestration Library enables users to implement these procurement processes with a single click.

Zip is also introducing a new low-code Integration Platform that helps users build custom integrations with pre-built application programming interfaces (APIs), per the release. This solution helps businesses accelerate integration development, enable deeper integrations with Zip’s procurement orchestration platform, and reduce the resources needed to customize these integrations.

One enterprise that is using Zip’s enterprise procurement solution is Discover, according to the release.

“As a financial services company, there are a multitude of regulatory and policy requirements that all converge on our procurement process,” Jason Moore, senior director of procurement operations at Discover, said in the release. “Our goal was to unify disparate systems and governance teams onto a single efficient and user-friendly platform to reimagine what procurement could look like at Discover — and that’s why we turned to Zip.”

By automating procurement workflows that were previously manual, firms can enjoy downstream enhancements across their operational workflows and even rethink the staffing requirement needed for procurement and payment functions, Lu Cheng, co-founder and chief technology officer at Zip, told PYMNTS in an interview posted in October 2023.

“CFOs are excited about the labor savings and the ability to run their teams a lot more efficiently,” Cheng said.

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