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Soren Petsch

Soren Petsch

Senior Director of Procurement at Root Insurance; AI and procurement automation expert with 20+ years in indirect procurement across software, retail, and financial services.

Jul 20, 2026

27:28
And we're talking intake to procure, we're talking about the actual invoices coming through emails being, you know, read through in OCR or?
27:36
No, no, intake to procure is basically the request comes through that tool, meaning somebody says, hey, I need to, I want to buy this software or I need to get the service stood up, right? So the manual trigger.
27:49
Yeah, historically, it's been a man, you know, take out somebody's sense in emails, like, can you help me with this, right? Or I'm ready to sign this contract, how do I get it executed, right? And so intake to procure is that whole sort of process upfront around finance approval, legal review, infosec review, what actually gets approved, right? And intake to procure, it's sort of a new software approach It's like a ticketing system for procurement, right? And Zip was one of the first companies, I think in 2020 they were founded, that sort of leaned in very heavily and they created a really custom made for procurement type of intake to procure software.
28:27
And the industry woke up to them being valued at, I think they became a unicorn within a year and a half after founding.
28:35
And all of a sudden, everybody's like, oh, me too.
28:38
Right.
28:39
Because they realize that, hey, there's something here.

13 MINS LATER

42:09
but that also raises the questions like who do we hold accountable let's say that a po number kind of went through but in reality it shouldn't have like who are we going to hold accountable? The zip developer, somebody who's built the workflow, or a person who was supposed to do a manual check at some point? How do we solve that problem?

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