Why Zip Believes Procurement Orchestration is Essential

Zip, one of the world's leading intake and procurement orchestration platform, has been selected for the 2025 Forbes Fintech 50 list, which recognises the most innovative financial technology companies transforming industries.

One of 18 newcomers to make the list, Zip's inclusion comes hot on the heels of one of fintech's biggest fundraises of 2024: a $190 million Series D funding round announced in October

"When the funding was announced, Rujul Zaparde, Co-Founder and CEO of Zip, said: "Procurement is broken, companies are wasting billions of dollars and countless hours navigating byzantine approval processes, dealing with security risks and manually entering data.

"Zip has already proven that we can fix that, saving our customers billions of dollars and thousands of hours of time — and our new round of funding will allow us to continue to revolutionise business spending."

Redefining interaction with suppliers

Zip's latest funding has fuelled its mission to redefine how businesses interact with suppliers and manage spending, while becoming the global standard for B2B spend.

Funds are being strategically deployed to:

• Accelerate R&D efforts, doubling down on Zip's approach to building best-in-class procurement software entirely in-house. This includes further development of Zip's highly-successful Procure-to-Pay (P2P) product line, which has seen explosive growth and adoption by major enterprises like Northwestern Mutual, Toast and Coinbase. The funding will also support expansion into new product lines to address evolving market needs.
• Establish the Zip AI Lab to continue to rapidly develop and deploy cutting-edge AI solutions that integrate effortlessly with legacy enterprise systems. Zip's existing AI suite has already dramatically improved procurement processes across legal, security, finance and IT teams.
• Broaden global expansion with a particular focus on the EMEA region where Zip has already seen over 200% growth in the past year. Zip will leverage its new London office and expanded EMEA team to meet surging demand across the UK, Germany and France. This expansion will solidify Zip's position as the go-to procurement solution for large enterprises worldwide.

Orchestration becomes essential

Reacting to Zip's inclusion in Forbes' Fintech 50, Rujul added: "Being named to the Fintech 50 validates that procurement orchestration has become essential for modern enterprises.

"As organisations face increasingly complex purchasing processes and rising fraud risks, we're proud to help the world's most innovative companies streamline their operations while maintaining control."

Zip and its platform have been something of a revolution for procurement, thanks to their ability to simplify the purchasing process for global enterprises, improve visibility into spending and streamline workflows across departments.

How 2024 was all 'Zipped' up

Last year saw Zip process more than US$107bn in spend, helping customers like OpenAI, Snowflake and Prudential achieve significant savings and efficiencies. With Zip, customers save an average of 25% of the time previously spent on manual purchasing tasks and reduce overall spend by 3.6%.

Throughout the year, Zip reached several pivotal milestones that underscored its leadership in procurement orchestration:

Global expansion: Opened a new London office and grew the EMEA workforce by 400% to meet surging demand across the UK, Germany and France.

Product innovation: Launched Zip Premier, an enterprise-grade suite for multinational organisations and introduced a comprehensive AI suite that streamlines purchasing, document extraction and invoice processing.

Customer success: Helped Snowflake save more than $300 million; Discover Financial Services increased throughput by 67%; and Northwestern Mutual drove 18% cost savings while increasing spend under management by 20%.

This latest recognition from Forbes builds on a series of honours Zip has received since its inception.

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