According to a news release released on Monday (May 15), the combination of these characteristics results in Zip’s Intake-to-Pay, a single procurement platform that orchestrates spending from the initial request through spend approval, payment processing, and payments.
“The launch of Zip Intake-to-Pay allows businesses to implement a holistic and easy-to-adopt procurement experience that requires no additional training,” Zip Co-Founder and CEO Rujul Zaparde said in a statement.
“Zip is the only solution that starts with intake and solves for the end user’s experience to drive greater adoption across the organization, all the way through seamless PO [purchase order] management and payments, which leads to improved spend visibility, integrity, and control.”
31% of merchants are investing in procurement systems, with another 53% planning to do so. 42% of manufacturers are currently investing in procurement technology upgrades, with another 44% planning to do so.
According to the press release, the new capabilities introduced to Zip’s platform include Zip PO Management, Zip AP Automation, and Zip B2B Payments.
According to the announcement, these functionalities enable firms to establish and manage purchase orders based on authorized requests, dynamically route invoices for approval, and pay both locally and worldwide.
“Better spend management truly begins at the point of intake,” stated Zaparde in the announcement.
