Procure-to-Pay
Total spend overnight made simple.
Increase spend visibility and control without adding additional complexity.
Increase PO-backed spend
Zip’s intuitive intake experience makes company-wide PO adoption frictionless.
Automate manual AP tasks
Process invoices with the help of Zip AI to free up your AP team for more strategic work.
Get real-time spend insights
Zip enables teams to drive more financial predictability and forecast with confidence.
Automatic PO creation
Capture all of the information your AP team needs at the start of every request to ensure full visibility and compliance from intake to final payment.
AI-powered invoice processing
Extract invoice details in seconds to accelerate processing time and minimize errors from manual data entry – even for complex fields like tax codes and amortization schedules.
Dynamic approval workflows
Zip adjusts workflows and approval chains based on the details of each request for a smooth, transparent approval process.
Intuitive punchouts and receiving
Drive punchout adoption with Zip’s simple, user-friendly experience and enforce policies with 3-way match capabilities.
Transparency for all
Provide the right level of visibility for employees and vendors to quickly resolve blockers, set expectations, and improve cycle times.
Frequently asked questions
What is the procure-to-pay (P2P) process?
The P2P process encompasses all the steps of the purchasing process. Typically, the process starts with a request. After the purchase request has been approved, a purchase order will be generated and sent to the supplier, who will then deliver the product the organization is buying as well as an invoice. If the organization is satisfied that the product and the invoice align, they will approve and pay the invoice. The final, but very important step, is to accurately record the details of the transaction.
What are the key stages of the procure-to-pay process?
Procurement is a complex process, but it may help to think of it in two stages. The first stage involves raising a request and securing the necessary approvals. The second stage involves receiving the goods, matching POs, invoices, and receipts, paying the final bill, and maintaining compliant documentation and audit trails.
Who is involved in the procure-to-pay process?
A typical procure-to-pay process involves the requester, a procurement team, various approvers like finance, IT, security, or legal teams, and finally the accounts payable team, who processes and pays the supplier’s invoice.
What does procure-to-pay software do?
Procure-to-pay software optimizes the entire purchasing process from end to end by bringing all the steps into one user-friendly interface. It’s the fastest, easiest way to route a request through the necessary stages, purchase the items, and complete the payment process.
What are the benefits of procure-to-pay software?
Procure-to-pay software streamlines manual approval processes that frustrate employees and hamper productivity. Adopting a platform like Zip means that people get what they need faster, while organizations can spend their money more strategically and reduce IT, security, and legal risks.
What are the features of procure-to-pay software?
Zip’s procure-to-pay software can route requests through the proper workflows, automate PO creation, process invoices with the help of AI, route requests through the proper workflows, and efficiently process payments.