IT Vendor Management Specialist II

Last Updated:
June 29, 2023

Job Description Overview

As an IT Vendor Management Specialist II, you'll be responsible for identifying, assessing, and managing relationships with information technology vendors. Your job is to negotiate contracts and manage vendor performance across multiple business units, ensuring that vendors meet contractual obligations. You'll also be responsible for monitoring vendor compliance with corporate policies and regulations, identifying potential risks, and mitigating those risks as needed. A key part of your role will be to communicate with vendors and internal stakeholders, building strong relationships and ensuring that vendors deliver products and services that meet business requirements. You'll also need to stay up-to-date with industry trends and new technologies, and work closely with other IT teams to ensure seamless integration of vendor products and services. To be successful in this role, you'll need a strong understanding of procurement and vendor management practices, excellent communication and negotiation skills, and the ability to work effectively in a team environment.

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Job Duties and Responsibilities

  • Negotiate and manage contracts with IT vendors to ensure the best pricing and services are received by the company.
  • Monitor vendor performance and escalate issues to higher management as needed.
  • Maintain documentation on vendor relationships and contracts for future reference.
  • Collaborate with internal departments such as finance and legal to ensure compliance with contract terms and regulatory requirements.
  • Review and approve vendor invoices and process payments.
  • Manage and resolve issues related to vendor invoices, delivery, and service quality.
  • Coordinate with stakeholders to ensure vendor services meet business requirements and goals.
  • Participate in vendor selection processes to make recommendations on the best vendors to use for specific IT solutions.
  • Research and stay up-to-date on industry trends and best practices related to vendor management.

Experience and Education Requirements

To be an IT Vendor Management Specialist II, you need a mix of education and experience. It's common to see job postings that require at least a Bachelor's Degree in Information Technology, Business Administration, or a related field. However, some companies may accept equivalent work experience or a combination of education and experience. As for experience, most employers look for candidates who have at least 3-5 years of experience in vendor management, procurement, or IT outsourcing. Some skills that can bolster your resume include project management skills, negotiation skills, and good communication skills. If you have experience working in a global or cross-cultural environment, it's a plus.

Salary Range

An IT Vendor Management Specialist II is responsible for managing relationships with IT vendors and ensuring that their performance meets the organization's expectations. The expected salary range for this position varies based on factors such as location, experience, and education. In the United States, the average salary for an IT Vendor Management Specialist II is $89,092 per year according to Payscale.com. In Canada, the average salary for this role is C$77,820 per year according to neuvoo.ca. Other factors such as bonuses and benefits may also affect the salary range. To view current salary offerings for IT Vendor Management Specialist II, visit job search websites. 

Sources: 

https://www.payscale.com/research/US/Job=ITVendorManager/Salary

https://neuvoo.ca/salary/?job=it+vendor+management+specialist+ii

Career Outlook

If you're aiming for a career as an IT Vendor Management Specialist II, you'll be pleased to know that the outlook for this IT role is promising. As per the Bureau of Labor Statistics, the employment rate for computer and information systems managers, the parent category that IT Vendor Management Specialist II falls within, is projected to increase by 10% from 2019 to 2029. The role of an IT Vendor Management Specialist II is to manage information technology vendor relationships, contract negotiations, and resolving vendor performance issues, all vital functions of an IT enterprise. Hence, with the ongoing digital transformation and rapid growth of the IT industry, IT Vendor Management Specialist II careers are set to grow in demand for the foreseeable future.

Frequently Asked Questions (FAQ)

Q: What does an IT Vendor Management Specialist II do?

A: An IT Vendor Management Specialist II is responsible for managing all interactions with external vendors, ensuring their compliance with service level agreements, and cultivating positive relationships.

Q: What are the necessary skills to become an IT Vendor Management Specialist II?

A: To become an IT Vendor Management Specialist II, you need strong communication skills, excellent negotiation skills, project management skills, and a deep understanding of vendor management processes.

Q: What is the educational or experience requirement to become an IT Vendor Management Specialist II?

A: Typically, a bachelor's degree in a relevant field, such as information technology or business administration, is required to become an IT Vendor Management Specialist II. Additionally, experience in vendor management or a related field is required.

Q: What are the primary responsibilities of an IT Vendor Management Specialist II?

A: The primary responsibilities of an IT Vendor Management Specialist II include managing vendor contracts and relationships, ensuring vendor compliance with service level agreements, resolving vendor-related issues, and negotiating vendor contracts.

Q: What is the career growth potential for an IT Vendor Management Specialist II?

A: As an IT Vendor Management Specialist II, you can progress to an IT Vendor Management Specialist III role, or move into other positions within the IT industry, such as project management or IT operations. With additional education and experience, you can become an IT Vendor Management Manager or Director.


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