Zip Launches an AI Suite to Streamline Business Operations

In a significant move aimed at streamlining business operations, Zip, an intake-to-pay platform trusted by renowned clients such as Canva, Coinbase, and Notion, has unveiled a pivotal generative AI product suite.

Source: Zip

This thoughtfully design suite enhances document intelligence through direct AI integration in request intake, approval processes, and contract renewals. The system swiftly scans documents and extracts essential information while ensuring data integrity. Hence, the daily business workflows are optimized.

Here’s what Zip AI has to offer:

• Efficient Data Entry eliminates manual data entry for tasks such as purchase requests and invoices, streamlining operations.
• Legal and Security Risk Detection: Zip identifies over 100 legal and security risks in documents, including Master Service Agreements (MSAs) and audit reports.
• Vendor Redundancy Detection: It also detects overlap in requests and existing vendors, enhancing request and review processes and active contract management.

“Zip’s generative AI capabilities will save users’ time by eliminating the need to use external systems for key metadata extraction and by embedding the extracted data directly into workflows. The depth of clause extraction and granular contract risk analysis exceeds what is offered by competitors that we’ve bench-tested, as these features are typically reserved for contract lifecycle management solutions,” said Nikhil Gaur, research analyst and project associate at Spend Matters.

Zip AI Suite will be available to beta customers in the last quarter of 2023. By utilizing its capabilities, businesses can improve their operational efficiency and expense management, ultimately gaining a competitive edge in their respective industries.