IT Procurement Specialist (Local's Only)

Requirement details: Title : IT Procurement Specialist Location : Teaneck, NJ Duration : Contract Technical Skills & Knowledge: Primary Skills: IT Procurement Responsibilities: A Bachelor's degree in Business Management. Economics, commerce, supply chain management or Computer Science. 7-10 years of IT Procurement/Sourcing support experience. Must have understanding of software licensing and IT networks and infrastructure, data center technology, end user, mobile, web and social media technology and terms. Excellent verbal and written communication skills, including the ability to explain technical contractual aspects to senior leaders within and external to the IT Organization. Excellent customer service, decision-making, and organizational skills. As an IT Procurement executive, you will: Responsible for managing maintenance/service agreements across software, hardware, telecommunications and other IT related equipment and services. Candidate should be able to understand overall cost drivers in a contract and have a skillset to quantify them as value to be negotiated or structure it as a cost He/She should have in-depth knowledge in defining accurate cash inflows of a deal, set penalties on failures, define deliverables, mile stones, and ways to overcome probable risks in a contract Candidate should also have skill of validating market trends in software licensing and submit innovative ideas to remodel the licensing metrics Collaborate with IT Teams and other departments to negotiate terms with vendors, to mitigate risk and maximize price efficiencies. Work closely with IT and Finance departments to ensure that invoicing and payment occur on a timely and accurate basis. Conducts negotiation of pricing to leverage volume purchasing and achieve highest cost savings. Deep understanding on statement of work clauses and has a capacity to redefine terms which could be favorable to Cognizant. Proactively monitor when the terms of agreements are nearing expiration. Discuss on-going requirements with IT Management. Serve as a point reference to interpret the terms of the agreement, addressing any questions that may arise. Develop and maintain central tracking and reporting mechanism for all contracts and agreements within the responsibility of IT Procurement ensuring annual renewals are completed. Maintain files of supporting documentation including original paper documentation as required. Willingly and occasionally, work nights and weekends to better support the business. Build strong relationships within all areas of the business to promote collaboration. A Team Player you understand the basics tenants of being a great teammate including proper time management, communication and attendance.