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lakshminarayanan Krishnaswamy, Senior Leader IT Procurement & VMO

lakshminarayanan Krishnaswamy

Senior Leader IT Procurement & VMO·IDFC FIRST Bank

India

Bachelor's degree, Mechanical Engineering

Work experience

Total years of experience: 11 years, 1 months

Senior Leader IT Procurement & VMO

November 2024 - Present

IDFC FIRST Bank

Bengaluru, India

November 2024 - Present

As part of the CTO Leadership team, I drive business end-to-end goals for IT procurement and Vendor
Management. Drive performance to atain world class operational benchmarks. As a lead for Vendor
management program, I am a subject mater expert to drive the change agenda for process
improvements ensuring the delivery of change within a constrained environment managing business
cases change impacts implementation & sustainability of initiatives. Lead contracting capability to
deliver on goals and develop leading edge contract management function. Establish direction and
drive the To-Be VMO capability function by implementing the transformation roadmap. Act as
strategic partner and an advisor for the business units on strategic maters.
Responsibilities:
• Lead technology Sourcing function - Deliver category strategies through initiatives for the day-to
day performance of IT category management across indirect suppliers.
• Lead procurement function - responsible through my operations team for the day-to-day
performance of Source to contract processes including contract and commercial management.
• Lead Requisition to Pay driving efficiency and value generation working with stakeholders to ensure
high accuracy timely action and fast query management.
• Actively seek opportunities to innovate and source best practices to develop the processes through
collaboration in Sourcing and Procurement function under Finance areas.
• Being end-to-end Procurement expert, I also lead a team of young and motivated professionals with
passion for operational excellence.
• Define long term strategy of new capabilities, develop Vision & mission, deliver on execution plan
for new capability (procedures, knowledge, competencies) by improve the efficiency and
effectiveness of category management function.
• Lead multi layered teams in a dynamic, innovative, and fast paced environment to make the real
impact for business.
• Lead and deliver on business priorities, goals and business requirements that are critical with
excellent business judgment.
• Ensure and be success full in establishing rapport and trust with senior leadership across multiple
business units.
• Manage and deliver on responsibilities for delivering innovative operating model. Work with tech
teams to simplify and automate process to improve team output and efficiency

Company industry:
Banking

Leader contract and commercial

October 2021 - January 2024

-Tesco-

Bengaluru, India

October 2021 - January 2024

As part of TBS Sourcing & Procurement Leadership team, I drive business end-to-end goals for
contract and commercial management team. Drive performance to atain world class operational
benchmarks. As a lead for Vendor management program, I am a subject mater expert to drive the
change agenda for process improvements ensuring the delivery of change within a constrained
environment managing business cases change impacts implementation & sustainability of initiatives.
Lead contracting capability to deliver on goals and develop leading edge contract and commercial
management function. Establish direction and drive the To-Be VMO capability function by
implementing the transformation roadmap. Act as strategic partner and an advisor for the business
units on strategic maters.
Responsibilities:
• Define long term strategy of category plan and develop third party sourcing and onboarding
capability (procedures, knowledge, competencies) to improve the efficiency and effectiveness of
sourcing & procurement function.
• Ensure use of oversight process, best practices and implementing of vendor management.
• Lead category sourcing organization to meet corporate objectives and business requirements, track
results against targets and identify/ execute performance improvement initiatives on a continuous
basis.
• Lead development of saving plan and assign priorities for sourcing objectives.
• Challenge internal requestor on business requirements to open new sourcing opportunities.
• Manage partnership with stakeholders. Reviews results of supplier management processes and
provides navigation.
• Manage category managers by providing them performance objectives, coaching and development
feedback.
• Provides management support, guidelines, and mentoring to all sourcing and procurement
representatives.
• Define communication and knowledge strategy across supplier contract oversight and ensure high
ethical standards related to contracting process are met.
Competency:
• Procurement sourcing experience, suppliers.
• Able to motivate and lead people to change mindsets about category management, sourcing
process, both within Procurement dept. and in business.
• Experienced in managing relationship at executive level with Line of business executives, legal
teams and TPO team (internal stakeholders).

Company industry:
Retail & Wholesale

VP – Global Supplier Services

October 2018 - January 2021

-JP Morgan-

Bengaluru, India

October 2018 - January 2021

Lead Sourcing & Procurement function to deliver category management goals and develop leading
edge strategic sourcing capabilities. Establish direction and drive the To-Be S&P function by
implementing the transformation roadmap. Act as strategic partner and an advisor for the business
units on vendor maters.
Responsibilities:
• Lead development and update of category sourcing strategies and manage sourcing activities in
respective spend area covered by strategic purchaser/purchaser.
• Be the key contributor to procurement plan for respective categories and lead team (strategic
purchasers) to execute it.
• Participate in the negotiation and contract development process (case by case, for more complex
situations).
• Develop and manage partnership with internal clients (including efficient cross-functional
collaboration) and relationship with strategic suppliers. Conduct review of contract performance and
spending for categories.
• Supports strategic purchasers in proactive work with internal clients to identify, forecast and
optimize demand and standardize specifications to reduce TCO.
• Ensure that procurement services are provided according to procurement plan & within budgets,
timescales, and standards.
• Lead functional team of strategic purchasers and purchasers by providing them performance
objectives, coaching and development feedback.
• Contribute to a positive work environment and promote teamwork; support/lead efforts to increase
employee engagement.
• Ensure meeting of high ethical standards related to strategic sourcing process.

Company industry:
Banking

assistant procurement manager

September 2015 - October 2018

Accenture

Bengaluru, India

September 2015 - October 2018

Company industry:
IT Services
Job role:
Purchasing and Procurement

Procurement consultant

July 2013 - March 2015

Honeywell

Bengaluru, India

July 2013 - March 2015

Company industry:
Aerospace
Job role:
Purchasing and Procurement

Education

Tamilnadu College of Engineering , Bharathiar University

January 2002

January 2002

Bachelor's degree, Mechanical Engineering

India

Skills

EXECUTIVE PRESENCE
Intermediate
EXECUTIVE PRESENCE
Intermediate
COLLABORATION
Intermediate
COLLABORATION
Intermediate
LEADERSHIP
Intermediate
LEADERSHIP
Intermediate
ORGANIZATIONAL SKILLS
Intermediate
ORGANIZATIONAL SKILLS
Intermediate
PROCUREMENT
Intermediate
PROCUREMENT
Intermediate
STRATEGIC PROCUREMENT
Intermediate
STRATEGIC PROCUREMENT
Intermediate
STRATEGIC SOURCING
Intermediate
STRATEGIC SOURCING
Intermediate
TEAMWORK
Intermediate
TEAMWORK
Intermediate
THOUGHT LEADERSHIP
Intermediate
THOUGHT LEADERSHIP
Intermediate

Languages

English
Native Speaker
Telugu
Native Speaker