Zip Procurement

Key Features

Intake and Approvals

• AI-powered intake: Employees describe what they need in plain language, and Zip turns the request into a completed intake form.
• Workflow engine: Routes each request to the right reviewers based on configurable rules and approval thresholds, with notifications in Slack or Microsoft Teams.
• Budget matching: Checks requests against budgets during intake. A separate Budgets add-on is available for deeper budget tracking.
• Intake agents: AI agents validate intake details, check pricing against historical benchmarks, and review contract terms before a request reaches approvers.

Procure-to-Pay

• PO management: Generates purchase orders from approved requests and tracks projected spend and change orders.
• AP inbox automation: An AI agent pulls invoices and supporting documents from email.
• Invoice review: Flags duplicate invoices, overages, and contract mismatches before approval.
• Payments: Supports multiple payment types, including 79+ international payment rails and virtual cards, plus bank account verification in 30+ countries.
• ERP sync: Syncs approved transactions with SAP, NetSuite, Oracle, Workday, and QuickBooks.

Supplier Onboarding and Risk

• Supplier portal: Guides suppliers through submitting their documents and keeps supplier records in one place.
• Automated supplier checks: Runs TIN, VAT, OFAC, D&B, and bank account verification during onboarding.
• Risk triage and scoring: Scores vendors for risk, fast-tracks low-risk vendors, and sends high-risk vendors to deeper review.
• Continuous monitoring: Watches cyber and sanctions feeds, including BlackKite and LSEG World-Check.

Sourcing

• RFx generation: Builds RFx events from templates, imported documents, and intake details.
• Vendor scoring: Scores and compares supplier responses using weighted criteria.
• Savings tracking: Tracks preferred suppliers, realized savings, and renewals in one dashboard.

Contracts

• AI redlining: Marks up contracts against your approved legal playbooks.
• Contract triage: Sends only the contracts that need human judgment to legal for review.
• Contract repository: Extracts metadata, links amendments and SOWs to parent agreements, and sends renewal alerts.

Functionality

Zip Pricing

Zip doesn’t publish pricing. Every plan is a custom quote, and there’s no free plan or free trial. The median buyer pays about $88,000 per year, with contracts ranging from roughly $26,600 to $214,800 per year. Most contracts are annual subscriptions.

Factors that affect pricing:

• Number of users
• Modules purchased, such as procure-to-pay, sourcing, supplier onboarding, risk, and contracts
• Add-ons like Budgets, Vendor Cards, and Global Payments
• Number and complexity of integrations
• Contract length and negotiated discounts, which average about 19%

Users report that implementation typically takes about three months.