Leading Research and Analyst Firm Selects Zip Two Years Running for Leadership Role in Procurement Intake Management Market

Zip, the world’s only intake-to-pay platform, today announced it has been chosen for the 2023 “50 Providers to Watch” list by Spend Matters.

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This prestigious list recognizes the fast-rising companies in the procurement and supply chain market that continue to grow and develop innovative products propelling the market forward. Spend Matters is a leading solution intelligence source for procurement and supply chain professionals.

“We’re honored to be named to the ‘50 Providers to Watch’ list two years in a row. This recognition is a testament to the success of Zip’s leading intake solution – with companies ranging from top startups to Global 2000 financial institutions – as well as our commitment to ensuring intake is the new standard for procurement teams,” said Rujul Zaparde, CEO and co-founder of Zip. “Procurement and finance teams across industries are frequently faced with outdated processes that hinder visibility and control. This is why we built our Intake-to-Pay platform with intake at the core — to address these ubiquitous challenges with a streamlined experience for initiating requests for any business purchase, vendor or contract request.”

The annual 50 Providers to Watch list — sourced and calculated by the entire Spend Matters analyst team — nominates technology providers that serve procurement, finance and supply chain organizations. Now in its tenth annual year, the list identifies companies that represent the top technology providers that serve enterprise-level procurement organizations. Those selected are setting the industry standard and leading the charge on new procurement technologies and services. This year is the first to feature a numerical scoring scale to quantify factors previously considered ‘soft’ as the first step in the analyst selection process.

“Zip continues to grow rapidly alongside the intake management market,” said Nikhil Gaur, research analyst and project associate at Spend Matters. “Zip is where an organization's employees initiate new purchases or vendor requests, and it has added more downstream support by leveraging the simplicity and configurability of intake to automate PO creation.”

The critical role of intake in ensuring adoption and scalability of spend controls has been fundamental to Zip’s rapid rise in the procurement technology market. Businesses from growth-stage startups to the largest publicly traded companies use Zip, which pioneered the category of intake management, to deliver a game-changing solution for antiquated procurement processes through its consumer-style, enterprise-grade SaaS platform. Employees can easily initiate a purchase or vendor request through seamless integration of Zip into their tech stack. Zip also automates the entire downstream procure-to-pay process and prioritizes the employee experience through increased visibility and management of business spend and operations.

Zip Named a ‘Leader’ by Spend Matters in Intake Management

Zip was recently named a ‘Leader’ by Spend Matters in their 2023 report “Intake Management: Procurement Tech's Next Big Market.” The Spend Matters research defines intake management, explains how it impacts the enterprise and outlines specific use cases in every department. Additionally, the report covers how intake management is ever-evolving and showcases intake management orchestration in practice by highlighting a Zip customer case study from a prominent financial institution.

Zip Introduces Generative AI Suite

Zip recently announced a new embedded generative AI product suite that automates previously manual workflows, flags legal and security risks, and generates valuable business insights. The new AI capabilities eliminate thousands of hours employees spend on error-prone data entry for purchase requests, purchase orders and invoices, as well as on time-consuming vendor contract reviews. In addition, these AI capabilities can search aggregated insights across all contracts, including key risks and vendor consolidation opportunities that would otherwise take significant time and budget to manually identify. More details can be found here.

To learn more about the 50 Providers to Watch list and methodology, visit the Spend Matters website.

To learn more about Zip, please visit the website or request a demo.

About Spend Matters

Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.

About Zip

Zip is the world’s only intake-to-procure platform. Providing an intuitive starting point for any employee to initiate a purchase or vendor request, Zip helps businesses gain clear and timely visibility across all business spend by dramatically improving the employee experience. The platform’s no-code configuration and intelligent workflows integrate disparate systems, enabling businesses to automatically route requests for faster approval across finance, legal, procurement, IT, security and other teams. Zip consolidates all the steps and tools used across finance and procurement processes in one platform. Leading enterprises and high-growth startups like Northwestern Mutual, Snowflake, Canva, Airtable, Webflow, Databricks, along with more than 250 others, use Zip to streamline their intake-to-pay processes while delighting their business users.

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