Procurement and spend management fintech Zip announced the addition of a host of new AI-powered enhancements to its software. Specifically, the solution now sports an AI assistant that guides employees through the purchasing process to reduce the time and effort required to navigate complex company spending policies (For example, if an employee wants to buy an Airtable software subscription for their team, they can send a message to Zip’s AI assistant as if messaging a coworker, and Zip AI will automatically start the purchase request, guiding them through what is needed to complete the request); AI document extraction, which parses data from order forms, contracts and other documents to create a comprehensive, single source of truth, scanning documents such as MSAs, DPAs, NDAs, SOWs, Amendments, and more in seconds; and AI intake automation, which pre-fills purchase requests with data from order forms—employees simply need to upload the order form they receive from their vendor to have key purchase and supplier information, such as price, item quantity, and billing frequency, automatically included in their purchase request.
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