Improving low efficiency of phosphorus (P) use in agriculture is an imperative because P is one of the key nutrients underpinning sustainable intensification of food production and the rock-phosphate reserves, from which P fertilisers are made, are finite. This paper describes key soil, root and microbial processes that influence P acquisition with a focus on factors that can be managed to ensure optimal use of fertiliser, and development of root systems for improved P acquisition. A case study describes grasslands in southern Australia where the P-balance efficiency of production is very low, mainly because soils are P deficient and moderately to highly P-sorbing. Use of soluble P fertiliser, P-banding and soil testing to guide soil P management ensures effective use of P fertiliser. Progress towards improved P efficiency using pasture legumes with high P-acquisition efficiency is outlined. Development of a ‘whole-of-system’ understanding for effective P acquisition by roots is highlighted.