Zurich Insurance Group announced Thursday it has selected Tradeshift’s operating system to enhance its procurement practices. The cloud-based software is expected to cut management costs by replacing paper invoices with automated e-invoicing.

The global insurer will also implement Tradeshift Buy, a searchable e-commerce product database offered by Tradeshift that will better connect Zurich with suppliers. Said suppliers will be able to upload invoices and manage their own data for improved accuracy, the companies said.

“We are delighted to work closely with Tradeshift on a sustainable approach to processing supplier invoices, and towards an entirely electronic procure-to-pay process,” said Kian Shroff, global head of procurement at Zurich, in a press release. “We are also excited to leverage its integrated eProcurement capabilities to support the procurement vision across our geographies.”

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