Vendor Portfolio Manager

• Fortune 500 company
• Open and collaborative culture
• Passionate in what they do
• Work-life balance
• Great benefits

Our client is hiring a Vendor Portfolio Manager who enjoys taking on challenges, upholding values, energizing a team, and exceeding goals by driving projects to solve for problems across people, process and technology. This will be highly involved in collaborating with different stakeholders and team members while staying aligned to team objectives and goals.

Summary:

A proactive and detail-oriented Vendor Portfolio Manager who is responsible for understanding and owning the internal vendor ecosystem. The Manager will lead initiatives to optimize costs and improve vendor utilization, and track and organize key relevant documents. The ideal candidate will have strong communication skills, a keen eye for cost-saving opportunities, and the ability to engage with both internal stakeholders and external partners effectively. This person will be a key member of the team with experience working collaboratively across multiple stakeholders and functional areas to achieve results. There are no direct reports associated with this role.

What you’ll do:

• Take ownership of the internal vendor management process by understanding the vendors’ value propositions (software solutions and professional services) and serve as the main point of contact for internal stakeholders with questions related to the vendor’s use
• Play a key role in the new vendor research process alongside the procurement team to identify the best solutions
• Engage actively in key events in the vendor lifecycle, including negotiation, contract signing, onboarding, renewals, and sunsetting, by providing insights and ensuring justified needs are met
• Build and maintain a comprehensive database of vendors, capturing important details such as contact information, services provided, contract terms, and renewal prices. Keep the database up to-date and accessible for decision-makers
• Work closely with senior leadership to monitor and keep them informed of vendor expenses, ensuring budget adherence, accountability and identifying cost-saving opportunities
• Prepare and deliver regular presentations on the status of vendor relationships, including key metrics, cost savings, and any issues or risks that need to be addressed
• Identify and recommend areas for cost savings or process improvements related to vendor management. Lead and drive initiatives that support these changes, ensuring stakeholder buy-in and implementation
• Lead efforts to improve vendor management processes, persuading internal teams and leadership to support and implement proposed changes to vendor relationships or internal processes

What you'll need:

Requirements

• Bachelor’s degree in Business Administration, Supply Chain Management, Finance, or related field
• 3-5 years of experience in vendor management, procurement, or cost optimization roles
• Strong organizational skills with the ability to manage multiple priorities and track detailed information
• Excellent communication and negotiation skills, with the ability to build relationships and influence stakeholders at all levels of the organization
• Experience in creating reports, presentations, and financial analyses
• Ability to identify and act on opportunities for cost savings and process improvements
• Familiarity with contract management tools and systems is a plus
• Ability to influence and challenge stakeholders and lead change. Flexible and able to navigate shifting priorities or unexpected challenges while maintaining focus.
• Knowledge of procurement and contract negotiation best practices.
• Strong project management skills, with the ability to lead cross-functional initiatives
• Ability to leverage project management tools such as Microsoft Project to manage project plans
• Analytical mindset with experience in data analysis and financial modeling.

Behaviors

• Proactive self-starter requiring minimal guidance and ability to meet deadlines
• Recommend and implement practical solutions while collaborating directly with stakeholders to drive business improvements
• Ability to think creatively and come to the table with proposed solutions
• Ok with working with ambiguity and able to read between the lines
• Strong problem-solving and critical thinking skills
• Highly organized, detail-oriented, and proactive with strong project management skills
• A willingness to operate within gray spaces and a desire to learn business transformation