IDC: Zip sets the pace in orchestration with new AI features

Last week, we announced our latest expanded AI-capabilities at Zip, designed to maximize the role and impact of procurement even further. 

Our pioneering procurement orchestration platform has already been embraced by over 400 customers, including industry leading leaders like Discover, Invesco, Snowflake, and Reddit. In just the past year, we have saved our customers over $1.5 billion.

With these enhancements, Zip is now positioned to make an even greater impact.

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Key Zip AI enhancements

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• Zip AI Assistant: A generative AI procurement assistant offering real-time process guidance, from intake management to spend analytics. Integrated natively or in Slack, it transforms how users interact with procurement processes, extending beyond basic inquiries to more complex support functions.
• AI Document Extraction: Zip automates the extraction and storage of the most important contract data, enhancing operational efficiency and vendor interactions by providing immediate access to necessary information and insights.‍
• AI Intake Automation: Zip now streamlines the creation of purchase requests by pre-filling necessary details, reducing manual entry and accelerating the procurement process.

Recognition from IDC

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Patrick Reymann, Research Director for Procurement and Enterprise Applications at IDC, recognized our advancements in his recent Market Note, highlighting the transformative potential of our new AI features for procurement. 

Here are some takeaways from the IDC Market Note:

• “Zip continues to set the tone for the Spend Orchestration space. In spite of their impressive and increasingly extensive roster of logo wins, they are clearly not resting.”
• “The enhanced AI features just announced demonstrate where we see the Spend Orchestration space headed, with fully integrated features that further democratize procurement and provide immediate informed and intelligent decision support.”
• "The Zip AI Assistant... extends to real-time decision support, such as supplier discovery, purchasing assistance for non-common purchases, or even spend analytics."
• “This features announcement confirms IDC's view that Spend Orchestration providers' functionality will increasingly extend further into the full spend management spectrum with an intense focus on meeting users' needs with an intuitive and simplified user experience, and Zip is showing the way.”
• “Zip's new AI enhancements appear to be powerful and we expect they will further cement—if not extend—Zip's mind and market share in the spend orchestration space. The combination of generative AI, contract analysis, and automated data entry addresses several key pain points in the spend management process.”

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Let Zip AI work for you

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Our journey at Zip has been driven by continuous innovation and a relentless focus on delivering value to our customers. Our latest AI features are built based on these principles—a commitment to enhancing the spend management lifecycle and accelerating workflows every step of the way.

This recognition from IDC does more than validate our efforts, it inspires us to continue to push the boundaries of what’s possible in procurement orchestration.

If you’d like to learn more about Zip AI, join us for a webinar on July 17 where we’ll demonstrate these new capabilities and share best practices for deploying AI to every team that touches the procurement lifecycle.

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