Zip, a leading procurement-orchestration firm, has introduced its new “Zip for Risk Orchestration” solution aimed at helping global organisations in risk-management and compliance across complex supply chains. The announcement was made on April 1, 2025.
PYMNTS.com
The platform offers automated vendor due diligence, including bank-account verification, tax-ID validation, and a centralised risk-repository of contracts, compliance data and vendor scores. The firm stated:
“Just as we transformed procurement orchestration, we’re now helping businesses proactively manage regulatory and operational risks worldwide,” said Rujul Zaparde, Co-Founder and CEO of Zip.
PYMNTS.com
Additional features include industry- and region-based risk-tiering, scheduled risk-reviews aligned with evolving regulations, and vendor-audit workflows intended to enhance visibility across finance, legal, IT and procurement functions. The firm highlighted that 98 % of global organisations have experienced a third-party breach and emphasised the importance of examining vendors’ vendors to avoid cascading exposures.
PYMNTS.com
For the insurance industry, the development is especially relevant. As insurers expand into cloud-based underwriting platforms, global supply chains and embedded services, third-party (and now fourth-party) risks have become central to resilience strategies. Insurers may consider integrating such supplier-risk solutions within their operational-risk, vendor-management and cyber-governance frameworks.
With procurement, services and data services increasingly outsourced, firms now face regulatory scrutiny over supply-chain transparency, subcontractor risk, and auditability. The introduction of Zip’s offering signals that risk-platforms are stepping beyond cost-efficiency to become pillars of enterprise risk management.
For more structured learning, please visit our website Smart Online Course, where we offer multiple courses to help you deepen your understanding of risk management.
