Use of Virtual Cards Surges Among Procurement Leaders, Finds Sap Taulia

The use of virtual cards in procurement is gaining strong momentum, according to new insights from SAP Taulia. Their latest report reveals a marked increase in adoption among procurement leaders as businesses embrace more secure, efficient B2B payment tools.

Procurement teams across the globe are rapidly turning to virtual cards to manage spend, improve efficiency, and reduce risk, according to new research conducted by SAP Taulia1, a global fintech leader of working capital solutions. 

Findings show that over 90% of procurement leaders are using, planning to use, or interested in virtual cards — a clear sign that digital payments are gaining momentum. Among the global sample of procurement professionals, data found that:

• 45% already use virtual cards
• 28% plan to adopt virtual cards within the next 6-18 months
• 20% are interested in further implementation of virtual cards

As appetite grows, so does ambition

Nearly nine in 10 (87%) of those who are using, or are planning to use virtual cards, intend to allocate more than 10% of their company’s overall spend to them in the next two years. In EMEA, 85% of respondents say they’ll assign over a quarter of spend to virtual cards, while 54% in the Americas plan to spend the same. This shift marks a broader digital transformation where virtual cards in procurement are no longer optional but essential for strategic growth.

Pain points

The data highlights that there are significant pain points in onboarding new suppliers – challenges which virtual cards can help address.

78% of respondents say it takes more than a month to authorise a new supplier and, for four in ten (40%), the process exceeds three months. The biggest hurdles to onboarding include managing risk and compliance (61%), quickly followed by gathering supplier information (58%). As such, two fifths (41%) of procurement leaders say that they are extremely likely to use virtual cards for one-time supplier payments. With continued innovation, virtual cards in procurement will likely become a default standard for enterprises managing complex supplier ecosystems.

Danielle Weinblatt, Chief Product Officer, at SAP Taulia comments: “Procurement leaders are under increasing pressure to move faster, reduce friction, and make better use of working capital. Virtual cards are emerging as a practical, scalable solution to help achieve that. What we’re seeing in this research reflects the conversations we’re having with customers every day – there’s a real desire to simplify processes, particularly when it comes to one-time supplier payments and onboarding.”