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Listicle

6 steps to drive agility in procurement

What slows down procurement? Unexpected costs, weak vendor relationships, and lengthy purchase order approvals are some hurdles. We outline practical ways to keep your business swift and nimble in this listicle.

Replace blanket POs

Without losing control

See tail spend

Without micromanaging every cost

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Frequently asked questions

Everything you need to know about tail spend management.

What is tail spend?

Tail spend refers to low-value, high-volume purchases outside of strategic sourcing. It involves unplanned, off-contract purchases that may not fall under the umbrella of strategic procurement policies.

What are the key benefits of using Soldo cards?

Soldo cards offer prepaid, company-issued cards that provide proactive controls, automated reconciliation, and visibility across all business spend, simplifying procurement processes and improving compliance.

How does Soldo help with compliance and control?

Soldo helps keep decentralised spending inside policy, ensuring compliance and reducing the administrative burden of managing procurement through a simplified system.

How does Soldo help manage long tail spend?

Soldo makes it easy for employees to access funds for ad hoc purchases within pre-set limits. Every transaction is tracked automatically, meaning finance teams get full visibility without needing to chase receipts or reconcile manually.

How can Soldo assist in reducing procurement admin?

By automating reconciliation, cutting the need for manual processes, and simplifying purchasing controls, Soldo reduces procurement admin, allowing teams to focus on strategic tasks.

Why is real-time budget monitoring important in procurement?

Real-time budget monitoring allows teams to keep track of their spending as it happens, making it easier to manage budgets, control costs, and avoid overspending.

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The financial services provided to customers resident in or with registered office in the UK are provided by Soldo Financial Services Ltd., a company incorporated in the UK with company number 09495650, whose registered office is 119 Marylebone Road, London, NW15PU, United Kingdom, authorised as an Electronic Money Institution by the Financial Conduct Authority (firm registration number 900459). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The card is issued by Soldo Financial Services Ltd pursuant to a licence issued by Mastercard International Inc. Soldo Financial Services Ltd. (data protection number: ZA147304) complies with all applicable data protection and privacy legislation in force from time to time in the UK and the EU including the General Data Protection Regulation ((EU) 2016/679) and the Data Protection Act 2018. All communications related to financial services provided by Soldo Financial Services Ltd shall be sent to Soldo Financial Services Ltd., 119 Marylebone Road, London, NW15PU, United Kingdom.