How procurement teams can help businesses face supply chain uncertainty

A business’s ability to adapt depends on its procurement function. How can technology help them face today’s market dynamics and accomplish more? 

Procurement teams have helped businesses survive the unimaginable – but more change is coming.  

Rising inflation, skyrocketing demand, and global trade disruptions may have broken some of the world’s strongest supply chains. But your business survived it.  

While it may feel like you’ve faced enough uncertainty for a few lifetimes, there’s undoubtedly more turbulence ahead, whether that’s economic shifts, environmental factors, or other geopolitical risks.  

Your business needs you to continue helping it face change boldly, while also maintaining control over spending. 

Both are critical to navigating the market’s unpredictability. Cost savings ensure you maintain profitability in uncertain times. Resilience enables your business to adapt and thrive through disruptions, ensuring long-term sustainability and growth. 

How do you deliver both at the very same moment?  

Focusing solely on cutting costs is making you less resilient.  

Yes, finding the best deal is an important part of what you do. But, as you already know, what’s less expensive is also always what’s going to add the most value.  

For instance, choosing the cheapest supplier may mean sacrificing reliability or quality, which can cost more in the long run. 

Time-consuming low-value admin (like manually tracking invoices, sorting through purchase orders, and handling compliance checks) takes time away from the high-impact, strategic work you’re excited to do (like shaping long-term supplier strategies, driving innovation in the supply chain, and enabling business growth through smarter procurement decisions).  

But splitting your time between reporting on the past and building your business’s future isn’t the only challenge.  

Knowing where to start when it comes to strategic sourcing, supplier diversification, or improving operational efficiency requires you to look at the hard facts.  

Where do you start? 

• 44% have trouble finding new suppliers (Amazon) 

• 41% say it’s too hard to onboard new suppliers (Amazon) 

• 66% on strategic sourcing and value generation in the next 1–3 years (KPMG). 

To cut costs and build resilience, you need a more strategic, data-driven approach to procurement that empowers you to act proactively and identify value at every step. 

The modern procurement team is agile and proactive. 

By embracing smarter tools and processes, procurement teams can streamline operations, reduce inefficiencies, and unlock insights that guide better decision-making.  

Automating routine tasks like tracking invoices and processing purchase orders allows you to spend your team’s valuable time and resources to focus on strategic initiatives.  

With real-time data, you can make informed decisions that optimise supplier relationships, enhance operational efficiency, and align procurement with your wider organisational goals. 

Soldo helps procurement teams build stronger supply chains.  

Procurement teams need to act quickly and strategically to keep their businesses moving. 

Here’s how Soldo works: 

1. Soldo provides procurement leaders with a holistic, reliable, real-time view of decentralised spending, so they can quickly identify trends and risks and make better-informed decisions.  
   
   What that means for you: better deals. For instance, if a supplier is used regularly by different teams across the business, procurement leaders can check rates to ensure they are consistent and identify opportunities for savings or more favourable terms. 

2. With Soldo, teams can mitigate the risk of supplier dependency, diversify where necessary and bring new vendors on board who align with strategic goals.
   
   What that means for you: more resilience. Where unplanned expenses in production procurement do occur, such as emergency purchases or price fluctuations, Soldo’s flexible spending controls enable financial agility – allowing the allocation of funds rapidly and ensuring production continuity.     

3. When financial agility is required in response to sudden change, Soldo temporary cards can be issued for ad hoc or one-time procurement through new vendors that do not need to be onboarded as a permanent part of the supply chain.
   
   What that means for you: unprecedented flexibility. You can act quickly without the usual time-consuming processes, ensuring your business stays responsive and efficient in the face of unexpected challenges.  

The vision is to build a framework that doesn’t just respond to today’s challenges but prepares you for tomorrow’s risks. With Soldo’s tools and capabilities, your procurement team can stay agile, proactive, and ready for whatever comes next.