Procurement doesn’t have time for bottlenecks
Procurement is expected to do more than just source efficiently. It’s tasked with keeping production on schedule, managing supplier risk, navigating rising costs, and supporting commercial resilience. And yet, outdated systems and manual admin still make it harder than it should be to control something as basic – and critical – as indirect spend. According to IDC research cited in Soldo’s 2024 vendor profile, 60% of finance teams in Europe are so consumed by day-to-day operations that they lack time to modernise processes. – leaving functions like procurement stuck with inefficient workflows and limited visibility.
When a key component or repair part is delayed because no one can access funds, the cost isn’t just the item itself – it’s the idle hours on the factory floor, the missed deadlines, and the knock-on effect across the entire supply chain.
Procurement teams know this better than anyone. But knowing what needs to be done and having the tools to do it quickly are two different things.
What’s really holding procurement back
Most delays aren’t caused by indecision – they’re caused by process. A supplier quote gets stuck waiting for internal approval. A last-minute purchase is made without a PO. Receipts go missing, and by the time the cost shows up in a spreadsheet, it’s disconnected from any meaningful context.
Procurement’s job isn’t to chase receipts, check policy compliance line by line, or explain yet again why tail spend matters. But without the right spend management framework, these manual headaches become part of the daily grind.
It’s not the purchasing that’s the problem. It’s the visibility. The control. The timing. Or more accurately – the lack of all three.
The case for real-time spend management
Procurement teams need to move quickly but also need to stay within process guardrails. That’s a hard balance to strike when you’re working across multiple sites, currencies, and departments, often with teams that are mobile, decentralised, and operating under pressure.
Soldo solves this by replacing manual admin and retroactive reporting with a real-time spend management platform. Every department – from operations to engineering to maintenance – gets access to pre-approved budgets through digital wallets and company cards. Money can be allocated for specific categories, cost centres, or projects. Every transaction is visible the moment it happens.
Businesses that use Soldo have seen significant improvements – The Total Economic Impact™ of Soldo, a 2023 commissioned study conducted by Forrester Consulting on behalf of Soldo, found an 80% time saving on reviewing and approving a monthly report and a 62% reduction in time spent managing a claim.
Purchases that used to require long approval chains and finance handholding are now tracked automatically, categorised on the spot, and linked to policy controls that enforce themselves.
That means procurement sees the whole picture without waiting for the month-end clean-up.
Designed for the complexities of manufacturing spend
Manufacturing doesn’t operate on a 9-to-5 schedule, and neither should your procurement tools.
With Soldo, procurement teams can empower frontline staff to make the right purchases — when and where they need to – while still retaining full oversight of spend. Company cards can be assigned to teams, production lines, or individuals. Mobile apps make it easy to capture receipts and notes in real time, reducing errors and removing paper trails.
This shift away from manual, cash-based processes is especially valuable in manufacturing environments where time and control are critical. As Stefano Santoni, Senior Finance Process Controller at tissue manufacturer Sofidel, one of Soldo’s customers, explained:
“It used to be a constant coming and going to get and return cash, which thanks to Soldo is now over.”
Another Soldo customer, Shay Murtagh Precast – a manufacturing leader in precast concrete – reduced finance reporting time by 90%, saving approximately 35 hours each month. By switching to Soldo and running weekly reports, the team gained greater visibility and tighter control over spend across departments.
Finance doesn’t need to chase missing information. And procurement doesn’t need to guess where the budget went.
From tracking raw material costs to managing unexpected facility repairs, every transaction is tagged, categorised, and ready for reporting. Money is topped up digitally, in multiple currencies if needed, and reassigned instantly when teams or projects shift. Procurement gets clarity. Operations get momentum. Nothing gets stuck in between.
From reactive purchasing to strategic procurement
When procurement has real-time insight into spend, it can stop being reactive and start being proactive. That means spotting trends early, catching duplicate spend before it becomes a problem, and negotiating supplier terms with complete confidence in the data.
It also means fewer surprises, stronger compliance, and more time spent on sourcing strategy – not admin.
Soldo’s Productivity at Work Report found that 71% of finance leaders say slow financial processes prevent employees from pursuing business opportunities. Real-time spend management directly addresses this gap – giving procurement teams the freedom to focus on strategic initiatives.
Shay Murtagh Precast also discovered new opportunities after adopting Soldo. In the words of Gillian Murtagh:
“It’s been a big breakthrough for us, realising that with Soldo we didn’t need physical cards to buy or do things online. It’s freed us up to engage a whole new supply chain”.
With Soldo, procurement teams gain the control they need without becoming a blocker. Visibility improves. Risk drops. And the entire business benefits from a procurement function that’s fast, informed, and fully in control.
Procurement shouldn’t have to choose between speed and oversight
Whether you’re managing multi-site operations, juggling fluctuating supplier lead times, or simply trying to keep non-PO spend compliant, Soldo helps you do it all with less admin and more accuracy.
It’s time to modernise the way procurement handles spend — and free teams up to focus on what they do best: keeping manufacturing moving.
