We are looking for a highly motivated and hands-on IT Procurement and Budget Specialist to oversee procurement and financial control functions within our IT department. This is a multi-faceted role where the ideal candidate will not only manage vendor relationships and optimize purchasing processes but also own the responsibility of tracking and managing budgets versus actual run-rates.
In this one-person team, you will need to be strategic yet operationally involved—evaluating procurement opportunities, ensuring cost efficiency, negotiating better deals with vendors, and keeping the organization aligned with financial and operational objectives. You will play a key role in managing the procurement lifecycle, budget control, and vendor consolidation to ensure seamless IT operations while driving savings.
This role will require someone who can challenge the status quo, identify inefficiencies, and improve procurement processes to bring in financial discipline and streamline operations.
Key Responsibilities:
IT Procurement & Vendor Management:
- Manage the end-to-end procurement process for IT infrastructure, including hardware, software, Software licenses, cloud licenses, and IT services.
- Identify, evaluate, and onboard vendors based on technical capability, cost, and service level performance.
- Develop a vendor consolidation strategy to minimize the number of suppliers, maximizing value by building strategic partnerships with fewer but reliable vendors.
- Negotiate contracts, renewals, and payment terms to secure favorable pricing and discounts without compromising on quality.
- Ensure Annual Maintenance Contracts (AMCs), licensing agreements, and subscriptions are renewed timely and cost-effectively.
- Create and maintain a vendor performance matrix to assess and track supplier performance against SLAs and expectations.
Budget Management & Run-Rate Control:
- Monitor and control IT budget run-rates, ensuring expenses align with forecasts and stay within the approved budget.
- Analyze budget versus actual expenses and identify variances to recommend corrective measures to stakeholders.
- Provide detailed budget forecasts for quarterly and annual planning cycles, highlighting key areas of focus for cost optimization.
- Collaborate with the Finance team to ensure accurate budget reporting, proper allocation of funds, and timely payment of invoices.
- Challenge purchase requests by asking relevant questions to avoid redundant or unnecessary procurement and ensure a clear business need.
- Provide detailed reports on cost-benefit analysis, justifying any deviations from budget plans.
Process Optimization & Efficiency Improvements:
- Identify bottlenecks and inefficiencies in the procurement process and design new workflows or SOPs to enhance operational performance.
- Implement automated tools or dashboards to monitor procurement activities, vendor performance, and budget status in real time.
- Introduce procurement best practices to ensure transparency, efficiency, and compliance with internal policies.
- Continuously review and streamline processes, recommending policy adjustments to bring in agility and responsiveness to market changes.
- Ensure the team follows internal controls and governance policies in line with the company’s financial strategy.
Stakeholder Management & Collaboration:
- Collaborate closely with IT, Finance, Legal, and Operations teams to ensure alignment between procurement activities and business needs.
- Work with IT teams to understand current and future infrastructure requirements and plan procurements accordingly.
- Coordinate with Finance to reconcile invoices, ensure timely payments, and update budget forecasts.
- Act as the primary point of contact for all procurement inquiries, resolving vendor disputes and coordinating with suppliers to meet delivery timelines.
Asset & Inventory Management:
- Maintain a comprehensive IT asset inventory, ensuring accurate tracking and usage reporting.
- Monitor license utilization and ensure optimal allocation of software and cloud licenses to avoid overspending.
- Identify opportunities for retiring or repurposing obsolete assets, driving down total cost of ownership.
Essential
- Bachelor’s degree in business, Finance, Information Technology, or a related field.
- 5+ years of experience in IT procurement, vendor management, vendor negotiations and budget tracking (preferably in financial services or Forex broking).
- Strong experience in negotiating contracts and driving vendor consolidation initiatives and license optimizations.
- Proficiency in budgeting tools, Microsoft Excel (advanced), and financial reporting software.
- Hands-on experience in IT asset management and understanding of licensing models for cloud platforms like Microsoft, AWS, and Google Cloud.
- Knowledge of Annual Maintenance Contracts (AMCs), Service Level Agreements (SLAs), and subscription renewals.
- Analytical mindset with the ability to translate procurement data into actionable insights.
- Strong negotiation skills, with a focus on securing value and building long-term vendor relationships.
- Ability to work independently, balancing strategic thinking with hands-on execution.
- Excellent communication skills to engage with internal and external stakeholders effective
Benefits
- Competitive salary
- Discretionary performance related bonus
- Paid sick leave days for self and for taking care of your dependents
- Interest free loans
- Hybrid working policy
- A focus on your wellbeing, including talks and access to self-development tools
- Flexi benefits / Quarterly allowance
- Global Employee Assistance Programme
