The IT Procurement & Contract Management Manager is responsible for overseeing the full lifecycle of IT contracts from requisition to closure. This role leads strategic sourcing, drives supplier negotiation and relationship management, and ensures that all contracts comply with internal policies and relevant legal and industry standards. The manager will work cross-functionally with IT, finance, legal, and business units to optimize procurement strategies, manage risks, and deliver measurable cost savings.

Contract Lifecycle Management:

• Manage the entire contract lifecycle, from initial requisition to contract closure, including drafting, negotiation, execution, and renewal.
• Develop and maintain contract templates and standard operating procedures.
• Ensure accurate and timely contract documentation and record-keeping.

· Sourcing and Negotiation:

• Conduct market research and analysis to identify potential suppliers and evaluate their capabilities.
• Develop and execute sourcing strategies for IT hardware, software, services, and cloud solutions.
• Lead negotiations with suppliers to secure favorable terms and conditions, including pricing, service levels, and payment terms.
• Create and manage Request for Proposals (RFPs), Request for Quotations (RFQs), and other sourcing documents.

· Supplier Relationship Management:

• Build and maintain strong relationships with key IT suppliers.
• Monitor supplier performance and ensure adherence to contractual obligations.
• Conduct regular supplier reviews and address any performance issues.
• Resolve contract disputes and manage supplier escalations.

· Risk Management and Compliance:

• Identify and mitigate potential risks associated with IT procurement contracts.
• Ensure compliance with internal policies, legal requirements, and industry standards.
• Stay abreast of changes in IT procurement best practices and regulations.
• Manage software licensing compliance.

· Financial Management:

• Manage procurement budgets and track contract spending.
• Analyze cost savings opportunities and implement cost reduction strategies.
• Ensure accurate and timely processing of invoices and payments.

· Collaboration and Communication:

• Collaborate with internal stakeholders, including IT, finance, legal, and business units, to understand their procurement needs.
• Communicate effectively with suppliers and internal stakeholders.
• Provide regular reports and updates on contract status and procurement activities.

• Bachelor's degree in business administration, supply chain management, IT, or a related field.
• 5 to 7 years of experience in IT procurement and contract management.
• Strong understanding of IT hardware, software, services, and cloud solutions.
• Proven experience in negotiating complex IT contracts.
• Excellent analytical, problem-solving, and negotiation skills.
• Strong communication and interpersonal skills.
• Knowledge of procurement best practices and industry standards.
• Experience with contract management software and ERP systems.
• Relevant certifications (e.g., CPIM, CPSM, CCMP) are a plus.
• Knowledge of software licensing models.
• Knowledge of cloud service agreements.

Preferred Skills:

• Experience in Banking industry.
• Experience with Agile procurement.
• Ability to work in a fast paced environment.