IT Cost & Vendor Management Specialist

Role: IT Cost & Vendor Management Specialist

Location: Kharadi, Pune, India

Life Unlimited. At Smith+Nephew, we design and manufacture technology that takes the limits off living!

The IT Cost & Vendor Management Specialist is responsible for supporting financial, procurement, and vendor management processes within the IT organization. This role focuses on budget planning and control, cost allocation, asset financial management, contract and vendor management, and ensuring cost-effective technology and service delivery. The specialist collaborates across IT, Finance, Procurement, PMO, and Business teams to maintain accurate financial records, optimize expenditures, and ensure compliance with internal processes.

What will you be doing?

• Budget Management Support: Liaise with IT Service Owners and Finance Business Partners to plan and control Enterprise Technology OpEx and CapEx annual budgets. Activities include continuous spend monitoring, monthly accrual reviews, forecasting, and processing budget adjustments.
• Order and Payment Management: Verify invoices against contract terms, ensure timely submission and renewal of Purchase Orders, and manage disputes or complaints related to payments.
• Cost Allocation Support: Collaborate with PMO, M&A, and Business teams to estimate costs for additional services/technologies outside the planned budget and ensure proper allocation across cost centers.
• Asset Management (Financial Aspect): Maintain accurate financial records for IT assets throughout their lifecycle, including depreciation calculations.
• Contract & SOW Management: Oversee a portfolio of contracts and Statements of Work, ensuring timely termination or extension, and liaising with IT contract owners and Procurement.
• Procurement Support: Assist Procurement in executing contract terms, with focus on SLA breaches and penalties where applicable.
• Supplier Relationship Management: Support the IT SRM program by overseeing relationships with key vendors and ensuring regular service reviews are conducted.
• Support Microsoft Contract Management: Process and document incoming demands (e.g., product reservations and reconciliations), and prepare annual license position summaries (True-ups).
• Benchmarking: Conduct regular benchmarks with Procurement to validate cost-effectiveness of technologies and services.
• Risk & Issue Management: Identify risks to service delivery and proactively resolve issues before they impact service levels.
• SOP/Process Documentation: Create and update Standard Operating Procedures (SOPs) to capture all internal processes.
  
  
  

What will you need to be successful?

• Education: Should have a bachelor's or master's degree in the field of business management, IT, or equivalent.
• Experience: Minimum of 1 year of relevant work experience. Preferred experience in Finance for IT, Procurement for IT, or Software Licensing Decision Support roles.
• Languages / Certifications: English proficiency at B2 level.
• Competences: Collaborative and influencing management style, with the ability to negotiate effectively and achieve optimal outcomes. Strong attention to detail, analytical thinking, and ability to work cross-functionally.
  
  
  

You Unlimited.

We believe in crafting the greatest good for society. Our strongest investments are in our people and the patients we serve.

Inclusion + Belonging: - Committed to Welcoming, Celebrating, and Thriving. Learn more about our Employee Inclusion Groups on our website (https://www.smith-nephew.com/).

Other reasons why you will love it here!

• Your Future: Major medical coverage + policy exclusions and insurance non-medical limit. Educational Assistance.
• Work/Life Balance: Flexible Personal/Vacation Time Off, Privilege Leave, Floater Leave.
• Your Wellbeing: Parents’/Parents-in-Law’s Insurance (Employer Contribution of 8,000/- annually), Employee Assistance Program, Parental Leave.
• Flexibility: Hybrid Work Model (For most professional roles)
• Training: Hands-On, Team-Customized, Mentorship
• Extra Perks: Free Cab Transport Facility for all employees; One-Time Meal provided to all employees as per shift. Night shift allowances.
  
  
  

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