Using its platform procurement teams can initiate a purchase which is then routed across all relevant departments in a streamlined and transparent way. It can also automate the issuing of purchase orders, invoice processing, and payments. This solution to a painful problem for all large companies has seen Zip adopted by a large and growing customer base which includes the likes of Canva, Databricks and Udemy, with over $1 billion a month in spend is approved over the platform.

Zip has raised significant capital which has aided its launch of Zip Premier, a suite of new enterprise capabilities and a low-code integration tool. The company is also expanding geographically, opening a new office in Dallas. While Zip is beginning to face competition from procurement automation platforms Keelvar and Focal Point, these moves, continued updates to its product range and solid funding seem likely to cement its leading position in the procurement management space.