Zip launches Intake-to-Pay to enhance procurement experience
By Delisha Fernandes
Zip announced the launch of Zip Intake-to-Pay, providing advanced Procure-to-Pay capabilities, including purchase order (PO) management, accounts payable (AP) automation and global B2B payments functionality.
“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 is the only solution that starts with intake and solves for the end user’s experience to drive greater adoption across the organisation, through to seamless PO management and payments, which leads to improved spend visibility, integrity, and control,” said Rujul Zaparde, co-founder, and CEO of Zip.
Zaparde said, “Better spend management begins at the point of intake. Legacy procure-to-pay systems are not built to support the distributed purchasing patterns of modern businesses, and they are inefficient, difficult to implement and lack dynamic customisation. This leads to broken processes, encouraging rogue and non-PO-backed spending contributing to non-compliance.”
Businesses can use Zip Intake-to-Pay to decrease purchasing cycle times, minimise time spent in manual procurement operations and redirect employees’ time to more strategic activities. This significantly improves employee adoption of pre-approved spending, which ultimately drives savings. Customisable workflows allow for accurate tracking and matching of POs and invoices, leading to more significant internal efficiencies and improved accuracy.
“Zip Intake-to-Pay extends Zip’s leadership position in the nascent – but rapidly growing – space of procurement applications directed at what is becoming known as procurement orchestration,” said Patrick Reymann, research director for procurement and enterprise applications at IDC.”
Unlike traditional procure-to-pay solutions, Zip Intake-to-Pay provides built-in intake capabilities that drive employee adoption and procurement process compliance from a unified platform. Zip Intake-to-Pay orchestrates spend from initial request to spend approval, then to payment processing and payouts. Companies can pay third-party vendors directly for invoices submitted via the Zip platform using email or direct upload.
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