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Prasad Rao
Procurement Lead | Strategic Sourcing | Contract Negotiation | Category Management | Digital Transformation | E-Procurement | Vendor Management
Prasad Rao is a highly experienced Procurement & Sourcing Professional with a background in the Insurance sector, specifically in IT & Non-IT procurements. He has held key positions in renowned companies like Bharti-Axa Life Insurance, Aegon Life Insurance, and currently with IndiaFirst Life Insurance.
His expertise includes sourcing and procurement of various categories such as Capex, Opex, AMC, Print Management, and Service Contracts. Prasad specializes in procurement process mapping, design of procurement policies, and documentation including SOPs, approval matrices, and escalation protocols. He also has extensive experience in managing Annual Maintenance Contracts (AMCs) for both IT and Non-IT assets.
Prasad is well-versed in infrastructure procurement and has successfully led projects involving branch expansions across India. His skillset extends to planning project timelines, executing projects, managing service contracts, ensuring adherence to service level agreements, and implementing print management solutions for multi-location branches.
Risk management and mitigation planning during the procurement process are key aspects of Prasad's work. He has a proven track record of achieving cost savings through strategic bidding, negotiations, and cost optimization practices. Additionally, he excels in audit and compliance management, vendor selection and evaluation, as well as budgeting and spend analysis.
With a PGDM from SVKM's Narsee Monjee Institute of Management Studies (NMIMS), Prasad Rao has held significant roles such as Associate Vice President & Lead - Procurement at IndiaFirst Life, Chief Manager & Lead - Procurement at Aon, and Sr Manager - Procurement at Aegon Life, among others.
His accomplishments include successfully implementing a Purchase-to-Pay (P2P) project for the MM Module at Aegon Life Insurance and introducing online tools like the Reverse Bidding Tool. Prasad's dedication to driving operational efficiency, cost-effectiveness, and compliance in procurement and sourcing operations has consistently delivered value to the organizations he has been part of.