IT Procurement Analyst

Job Description:

The IT Asset & Finance Analyst is responsible for managing the lifecycle of IT assets while providing financial analysis and reporting to optimize IT investments. This role bridges IT asset management and financial planning, ensuring compliance, cost efficiency, and strategic alignment with business objectives.

laptop & desktop purchase negotiation & budgeting

Key Responsibilities: 

IT Asset Management Responsibilities

• Asset Lifecycle Management: Track and manage IT assets (hardware, software, licenses) from procurement through disposal.
• Inventory Control: Maintain accurate records of all IT assets, including location, usage, and compliance status.
• Procurement & Vendor Management: Coordinate procurement processes, negotiate vendor contracts and licensing agreements, and align acquisitions with budget and policy requirements.
• Cost Optimization & Financial Oversight: Identify opportunities to reduce IT asset costs through consolidation, reuse, or renegotiation.
• Compliance & Risk Management: Ensure adherence to software licensing, data security, and regulatory requirements.
• Lifecycle & Disposal Management: Oversee the full asset lifecycle—forecasting replacement needs, managing maintenance, and ensuring the proper, secure disposal of retired assets.
• Reporting & Analytics: Generate regular reports and analytics on asset usage, cost metrics, compliance status, and lifecycle trends to support data-driven decision-making.
• Security & Data Protection
  Collaborate with security teams to ensure assets are configured securely and compliant with data protection and cybersecurity policies.
• Cross-Functional Collaboration
  Work with finance, procurement, IT operations, and other departments to align asset decisions with broader organizational goals.

Finance Analysis Responsibilities

• Financial Planning and Budgeting: 
• Develop, manage, and maintain IT budgets, including operating expenses (OpEx) and capital expenditures (CapEx). 
• Assist in the annual IT budget planning cycle, ensuring alignment with corporate objectives. 
• Monitor monthly financial performance, providing variance analysis and actionable insights to IT and finance leadership. 
• Forecasting and Financial Modeling:  
• Prepare accurate forecasts for IT projects, hardware and software investments, and ongoing services.  
• Build financial models to evaluate the costs, benefits, and ROI of IT initiatives and projects.  
• Provide long-term financial projections for IT based on trends, planned investments, and industry benchmarks.  
• Cost Tracking and Optimization:  
• Track and report on IT spend, including vendor contracts, software licenses, cloud services, and maintenance agreements.  
• Identify opportunities for cost-saving initiatives and efficiency improvements within the IT function.  
• Assist in financial audits related to IT spending and ensure compliance with corporate policies and regulatory requirements.  
• Reporting and Analytics:  
• Variance Analysis: Compare actual vs. budgeted expenses and explain discrepancies.
• Prepare monthly, quarterly, and annual financial reports on IT expenses, budgets, and forecasts for executive leadership.  
• Analyze trends and KPIs (Key Performance Indicators) related to IT financial performance.  
• Ensure accurate allocation of IT costs across departments and business units.  
• Audit Support: Provide documentation and analysis for internal and external audits
• Cross-Departmental Collaboration:  
• Work closely with IT, procurement, and finance teams to align financial operations with IT strategy.  
• Support internal stakeholders with financial data, reports, and insights to inform decision-making.  
• Communicate financial information clearly to non-financial stakeholders within IT.  

Desired Skills and Experience: 

• Education: Bachelor’s degree in Finance, Accounting, Business Administration with a focus on IT or Finance, or a related field. MBA or relevant certification (e.g., CFA, CFM) is a plus.  
• Experience:  
• 3-5 years of experience in IT asset management and/or financial and budget analysis.
• Experience with IT financial management, including budgeting, forecasting, cost allocation, and financial modeling.  
• Familiarity with IT asset management, project financials, and vendor contract management.  
• Technical Skills:  
• Proficiency in financial systems and tools, including Excel (advanced), ERP systems (SAP, Oracle), Service-Now ITAM and financial reporting software.  
• Experience with business intelligence (BI) tools for financial reporting and analysis (e.g., Power BI, Tableau).  
• Excel expert, capable of developing complex spreadsheets and reports – pivot tables, lookup/references, charting, etc.. 
• Soft Skills:  
• Strong analytical and problem-solving skills, with a keen eye for detail.  
• Excellent communication skills, both written and verbal, with the ability to present financial data to non-financial stakeholders.  
• Ability to work independently and collaboratively in a fast-paced environment.  
• Strong organizational skills with the ability to manage multiple projects and deadlines.