Vivek Sethi

Gurugram

Summary

Dynamic procurement professional with a proven track record at XL India Business Services Limited, specializing in sourcing negotiation and vendor risk frameworks. Achieved significant cost savings through strategic initiatives and enhanced operational efficiency by streamlining processes. Adept at stakeholder collaboration and market analysis, driving value delivery across procurement functions.

Overview

years of professional experience

Work History

Global Sourcing & Procurement: Assistant Manager

XL India Business Services Limited (AXAXL)

12.2022 - Current

Achieved US$500k savings via strategic cost reduction initiative.
Employed advanced negotiation techniques such as volume discounts, price benchmarking and alternative pricing models to optimize cost.
Led comprehensive contract negotiations and management by collaborating with essential internal departments (Business, Tax, Legal, Information Security, and Data Privacy).
Optimized procurement processes to enhance overall business efficiency.
Executed comprehensive audits to mitigate risks and maintain compliance with vendor management protocols.
Enhanced value delivery by applying continuous improvement techniques to multiple procurement areas.

Team Leader Sourcing CoE

BA Continuum India Private Limited (Bank of America)

03.2018 - 12.2022

Facilitated effective partnerships across departments to manage contracts and uphold compliance standards.
Established robust systems for vendor classification and risk management, enhancing efficiency.
Fostered robust stakeholder relationships to align procurement strategies with business goals.
Mitigated potential risks by executing comprehensive agreement audits.
Implemented continuous improvement strategies across multiple procurement categories, resulting in enhanced operational performance and value delivery.

Analyst - Procurement

BlackRock India Services Pvt. Ltd.

08.2017 - 03.2018

Facilitated the creation and processing of over 500 purchase orders within Oracle R12, ensuring timely delivery and strict adherence to vendor compliance standards, which enhanced procurement efficiency.
Managed contract renewals, change orders, and amendments to strengthen procurement processes and optimize supplier performance, contributing to overall cost management.
Collaborated with cross-functional teams to streamline Purchase-to-Pay workflows, achieving a 30% reduction in manual tasks, thereby increasing operational efficiency and resource allocation.
Resolved 95% of inquiries related to invoices and payments in partnership with the Accounts Payable team, significantly minimizing processing delays and enhancing supplier satisfaction.

Procurement Process Associate

Genpact India Pvt. Ltd.

01.2016 - 08.2017

Managed the processing and approval of over 1,000 purchase orders and requisitions using SAP and SRM, achieving a 25% reduction in procurement cycle times, which enhanced overall operational efficiency.
Refined Purchase-to-Pay workflows within SAP and SRM, significantly optimizing procurement processes and driving enhancements in efficiency and compliance.
Resolved 98% of helpdesk inquiries within defined SLA timelines, ensuring seamless operations and uninterrupted service delivery across procurement functions.
Oversaw procurement orders to guarantee compliance with organizational procedures, ensuring timely delivery of goods and services and fostering strong supplier relationships.
Collaborated with cross-functional teams to streamline procurement operations, facilitating efficient delivery of goods and services that support organizational objectives and enhance stakeholder satisfaction.

Education

Bachelor’s - Commerce

Chhatrapati Shahu Ji Maharaj University (CSJMU)

01.2015

Skills

Sourcing negotiation expertise
Market analysis
GDPR compliance awareness
Category management

Stakeholder and cross-functional collaboration
Evaluating and reporting results to senior management
Cost-saving strategies development and execution
Vendor risk frameworks

Accomplishments

Cost savings initiative leader: Led a cost initiative that saved the organization UD$100k annually through strategic negotiations and sourcing optimizations
Business process improvement advocate: Promoted a process improvement initiative that ensured timely submission of agreement renewals to business owners, enabling informed decisions regarding necessary renewals

Affiliations

People management
Problem solving
Ability to prioritize
Team Player

Timeline