Zip: Bringing Procurement Orchestration to the Mainstream

It’s been a truly transformative year for Zip, which is helping to establish procurement orchestration as a critical capability for the modern enterprise.

Over the course of 2024, the platform processed more than US$107bn in spend across a staggeringly large pool of suppliers surpassing more than four million. 

HP, AMD and Anthropic are just some of the major players successfully streamlining their operations and driving measurable results thanks to Zip and its world-leading orchestration capabilities. 

“When we introduced procurement orchestration in early 2024, it wasn’t just a new term – it was a new way of thinking,” explains Rujul Zaparde, Co-Founder and CEO at Zip. 

“Now, leading analysts recognise it as a pivotal category and global enterprises have embraced it as the key to unlocking innovation. This shift is fuelled by tangible outcomes: driving savings, streamlining complexity and delivering unprecedented ease of use. And we’re just getting started.”

Zip’s remarkable year

Zip reached a number of pivotal growth milestones in 2024, underscoring its tireless commitment to modernising business procurement across the globe. 

The main highlight was undoubtedly its landmark US$190m Series D funding round, representing the largest investment in procurement technology in more than two decades and one of the largest for any enterprise SaaS company in 2024. 

During this remarkable year, Zip attracted an impressive roster of leading enterprise customers, including HP, AMD, Pinterest, Northwestern Mutual, Toast, Instacart, Sprouts Farmers Market, Unifi Aviation and Affirm, to name a few. 

Growth across large enterprises tripled – largely attributable to the firm’s highly-successful Procure-to-Pay (P2P) product line, which experienced explosive adoption by the aforementioned Northwestern Mutual and Toast, as well as crypto exchange platform Coinbase. 

Meanwhile, Zip was named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Spend Orchestration 2024 Vendor Assessment published in September. 

Bold expansion

Zip’s immense growth this year is further demonstrated by its expanded global presence, with a new London office and 400% workforce growth in EMEA designed to meet surging demand across the UK, Germany and France.

At its second annual conference, Zip Forward 2024, the business unveiled a bold new brand identity developed by a world-class design team from Nike, Airbnb and Google. With consumer-grade design and an intuitive user experience, Zip was immediately able to stand out in the traditionally-complex world of procurement software.

The conference itself was a resounding success, bringing together no fewer than 400 finance and procurement executives representing industry leaders like Prudential, Arm and Reddit.

On the product side, the firm launched Zip Premier, an enterprise-grade suite with advanced features for multinational organisations. Meanwhile, its new Integration Platform and Orchestration Library features more than 100 pre-built workflow templates to speed up enterprise implementation.

And it doesn’t end there. Zip also introduced a comprehensive AI suite that guides employees through the purchasing process while automating intake, document extraction and invoice processing. What’s more, it deployed Preferred Supplier Purchasing to fast-track buying from existing vendors and was integrated with Workday Adaptive Planning to provide real-time budget visibility.

Saving time and money

In truth, when it comes to assessing Zip’s astonishing impact in 2024, the numbers do most of the talking. 

The platform saved an eye-watering US$4.4bn and 4.6 million days of cycle time for customers, while processing 11.7 million approvals. 

Specific customer success stories include:

• Snowflake: Achieved more than US$300m in savings and brought clarity to US$6.7bn in spending with Zip
• Discover Financial Services: Achieved a 67% increase in throughput and a 14% reduction in cycle times, eliminating more than 3,000 business approvals annually
• UCI Health: Streamlined healthcare procurement processes to enable doctors and nurses to focus on providing life-saving medical treatment without administrative delays.

“If 2023 was the year of intake, then 2024 was undoubtedly the year of orchestration,” Rujul concludes. “Looking ahead to 2025, we see procurement evolving through the convergence of best-of-breed tools and source-to-pay models into a single, orchestrated platform. 

“We’re excited to continue improving how businesses interact with suppliers and manage spending, so that every organisation can access the resources they need to operate at peak performance.”

Zip has just been announced as a sponsor of PSC LIVE Chicago, taking place 28-29 May 2025. To secure your Early Bird ticket, click here.

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