You can create a table type in SQL server 2008 onwards which can be used to pass a data table into a stored procedure which should take up less resources and time than executing the stored proc for each row you need to update. I tried to use them in 2005 but creating types was only introduced in 2008. Have a look at the links below about creating types in SQL server:
http://blog.sqlauthority.com/2008/08/31/sql-server-table-valued-parameters-in-sql-server-2008/