Full-Time

Procurement Manager

Posted on 11/18/2024

Yext

Yext

1,001-5,000 employees

AI-powered search solutions for businesses

Enterprise Software
AI & Machine Learning

Compensation Overview

$92.3k - $153.5kAnnually

+ Equity Compensation + Variable Pay Programs

Senior

New York, NY, USA

Category
Procurement & Sourcing
Operations & Logistics
Required Skills
NetSuite
Coupa
Requirements
  • BA/BS degree
  • 8+ years of experience in a procurement management role in a high growth environment, with a breadth of experience procuring and negotiating software contract and proven track record of securing favorable terms and cost savings
  • Comprehensive knowledge of procurement technologies and contract management systems (i.e. Coupa, Netsuite, Ironclad)
  • Strong market knowledge, with an expert understanding of contract structures, pricing models and competitive dynamics in the software space
  • High degree of accuracy, attention to detail and confidentiality, ability to balance tactical work and strategic initiatives and drive continuous improvements and operational excellence
  • Excellent analytical, problem solving and decision-making skills and demonstrated experience forging relationships with executives, stakeholders, and suppliers to understand business requirements and priorities
  • Outstanding ability to educate and influence stakeholders across the organization through effective written and verbal communication
  • Ability to work independently and cross-functionally with a sense of urgency and ability to meet deadlines
  • Experience leading a global team
Responsibilities
  • Lead negotiations with software vendors to secure favorable terms and conditions and competitive pricing by analyzing market trends, internal usage, and competitive offerings to drive cost-savings opportunities.
  • Assess supplier proposals and contracts for compliance with procurement guidelines, company policies, and alignment with strategic company objectives, and liaise with the legal team to ensure compliance with all relevant laws and regulations.
  • Engage with internal stakeholders across various departments to understand their procurement needs and optimize the procure to pay process within our Coupa system.
  • Monitor supplier performance through the life of the contract; Identify opportunities to drive value through improvements in supplier performance
  • Conduct regular supplier risk assessments to manage company exposure to any unnecessary risk levels
  • Support the global T&E program to set policies and negotiate corporate agreements for accommodations, airfare, and other major company events.
  • Oversee global spend data across software and other categories, including development and presentation of reports and dashboards for senior management.
  • Create and maintain accurate records and documentation for all financial transactions and assist the accounting team with monthly analytics and vendor commitments reporting.
  • Collaborate with FP&A to monitor and track spending against departmental budgets.
  • Create and maintain internal SOPs and training materials for business users.
  • Develop a high performing team of onshore and/or offshore resources to scale the company’s global procurement processes.

Yext provides AI-powered search solutions through its Yext Answers Platform, which allows businesses to give direct answers to user queries instead of just links. This platform uses natural language processing to understand the context of search queries, ensuring users receive accurate and relevant information. Yext serves a wide range of clients, from large enterprises to small businesses, and focuses on improving search experiences in areas like marketing, customer support, and e-commerce. The company operates on a subscription model, where clients pay for access to the platform and its features, which are supported by a centralized Knowledge Graph that maintains consistent information across digital platforms. Yext also offers a training and community engagement platform called Hitchhikers, where users can enhance their skills and connect with others. The goal of Yext is to enhance search capabilities for businesses, leading to better user experiences and high customer satisfaction.

Company Stage

IPO

Total Funding

$115M

Headquarters

New York City, New York

Founded

2006

Growth & Insights
Headcount

6 month growth

-2%

1 year growth

-10%

2 year growth

14%
Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for AI-driven customer support boosts Yext's market potential.
  • Expansion in e-commerce increases need for Yext's advanced search solutions.
  • Rising importance of data-driven marketing supports Yext's cross-channel insights capabilities.

What critics are saying

  • Increased competition from emerging AI search platforms threatens Yext's market share.
  • Integration challenges from Hearsay Systems acquisition may disrupt operations.
  • Potential sale of Yext could create uncertainty among clients and employees.

What makes Yext unique

  • Yext's AI-powered search solutions provide direct answers, enhancing user experience.
  • The Yext Answers Platform uses NLP to understand search query context and meaning.
  • Yext's Knowledge Graph ensures consistent and accurate information across digital touchpoints.

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Benefits

Comprehensive Benefits Program - One of our top priorities is to maintain the health and wellbeing of our employees and their families. We offer a robust and comprehensive benefits program, which includes top-quality health insurance (medical, dental, vision), paid parental leave, a 401(k) with match or retirement pension plan, equity, commuter benefits, and more.

Invested in Your Wellbeing - In addition to our top-tier benefits, we also have a holistic wellness program that includes physical and mental health services. A few employee-favorite perks are our company-wide subscription to the meditation, sleep, and relaxation app Calm, as well as our corporate ClassPass membership.

Stay Informed - Our leadership team is committed to company-wide transparency, ranging from email blasts, biannual goal-setting days, and a weekly all-hands video meeting called Manifesto. Manifesto is a time for leadership to share company updates, showcase new products, highlight new deals, and provide kudos to well-deserved employees.

Collaborative Workspaces - Yext has amazing workspaces in many of the greatest cities in the world — from our magnificent new HQ in New York City to those in Chicago, Greater Washington DC, London, Miami, Munich, Paris, Tokyo, San Francisco, and more. Most job families within Yext allow employees to work from any office so they can experience the face-to-face collaboration, spontaneous interaction, and mutual learning that have become such hallmarks of our culture across the globe.

Life-Work Balance - We work hard and play even harder, but we also recognize that our employees wear multiple hats as parents, mentors, caretakers, volunteers, and more. That’s why we offer flexible and generous vacation, paid company and bank holidays, and sick days for when you’re feeling under the weather — all in an effort to give our employees more time to do the things they love with the ones they love and support a better life-work balance.

Upward Mobility - One of the perks of being a relatively new publicly traded company is that there is no shortage of opportunity. This means our employees are presented with countless chances to move internally. Internal mobility is at the forefront of Yext’s hiring, as are learning and development, alongside our mentorship program and monthly lunch and learns sponsored by our ERGs.

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