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Venminder - Makes Vendor Risk Management Life Easy
What do you like best about the product?
Venminder is impressive. The ease of navigating, on-going software development, and account management support makes a users life easy and stress free.
What do you dislike about the product?
Full transparency, I don't have any dislikes associated with Vendminder. I guess I can add I wish I started to use Venminder sooner.
What problems is the product solving and how is that benefiting you?
Venminder takes all associated with third-party vendor risk managment and creates a very polished one stop shop for all things related to vendor management.
The product / software funtionality and support is by far the best vendor management tool available.
The product / software funtionality and support is by far the best vendor management tool available.
Vender Risk Management platform that is intuitive to use
What do you like best about the product?
Getting started with the platform was a breeze. It is SaaS based so there no setup required. Just work with the implementatin team to get familiar with it and everything is good to go. The platform is very intuitive and easy to use. It also allows for some customization which is great. For examples, one can add additional fields to a vendor dashboard. Also one can create custom questionnaires that can be send to vendors during the onboarding process.
Over time the platform has seen a lot of new features and improvements.
The staff of Venminder is very knowlegdebable about the product and always very helpful. I like our monthly cadence calls with our CSM. It is always great to talk with her and usually new ideas emerge during those calls.
Over time the platform has seen a lot of new features and improvements.
The staff of Venminder is very knowlegdebable about the product and always very helpful. I like our monthly cadence calls with our CSM. It is always great to talk with her and usually new ideas emerge during those calls.
What do you dislike about the product?
No real dislikes that I can come up with. There are some minor cosmetics that could be changed maybe. But these are probably of personal taste.
What problems is the product solving and how is that benefiting you?
Organizing and monitoring vendors has become easier and was also approved during our recent ISO certification renewal process by the auditor.
we are still in the onboarding phases
What do you like best about the product?
the customer service is fantastic, the continious webinars, and the fact i can ask a question and get an answer with related topics and helpful links is phenominal. having a contact person who cares makes a difference.
What do you dislike about the product?
we have to pay for additional services in the venminder software.
What problems is the product solving and how is that benefiting you?
having subject matter experts take control of their vendors they use so not one person is in control of over 100 plus vendors.
Great experience. Software is intuitive and and staff is extremely helpful.
What do you like best about the product?
The most helpful thing is the Venminder team. The software is helping us managing vendors more effectively and efficiently.
What do you dislike about the product?
At this point, I don't see any downsides.
What problems is the product solving and how is that benefiting you?
Managing vendors entirely through the software and eliminating the large amount of emails.
Venminder is an amazing application that simplifies vendor management.
What do you like best about the product?
Venminder makes all aspects of vendor management more managable. From due dilligence to monitoring it does a great job. It is user friendly and my account manager Joshua Cooper is the best.
What do you dislike about the product?
I find nothing not helpful in Venminder.
What problems is the product solving and how is that benefiting you?
I use Blackkite for monitoring my critical vendors and it is right on the platform. I am able to set up the department managers to manage their own vendors which is a huge help.
Scalable for organizations of every size
What do you like best about the product?
Good customer support and access to resources for building out a comprehensive vendor management program.
What do you dislike about the product?
The user interface is difficult to navigate at first because there are so many features and functions.
What problems is the product solving and how is that benefiting you?
Venminder provides the features and tools for effective vendor risk management and regulatory compliance.
Upgrade Your Vendor Management with Venminder
What do you like best about the product?
Venminder provides an easy-to-use centralized repository for vendor information, risk assessments, due diligence, and contracts and renewal dates and reminderds, which makes it easier to manage vendor relationships. They also provide valuable support and expert guidance to our team.
What do you dislike about the product?
We are not taking advantage of the outsourced managed services due to the additional cost, so we still have to do the risk assessments, oversight, etc.
What problems is the product solving and how is that benefiting you?
Venminder allows us to keep all of our vendor information in a centralized place that department heads/product managers can access to help with the risk assessments and due diligence/oversight. They also send reminders before contracts renew, so that we can review and renegotiate vs. just letting the contract roll. They also provide expert guidance on vendor management, which we find valuable.
A good tool if you have a lot of time or dedicated vendor team to work on it.
What do you like best about the product?
I like being able to see a compact list of contract status/vendor products etc all in one place in the homepage. It makes tracking them easier, especially at my firm where a lof of the product managers don't have the capacity to dedicate much time or attention into contract emails. Venminder itself is a pretty straight forward tool to use and like the ease of adjusting contracts, adding vendors and products, and running reports.
Another aspect of Venminder that is really great is our account manager, Daniel Knigge. He has always been very communicative, quick to respond, and checks in with us often to see if there is anything we are needing!
Another aspect of Venminder that is really great is our account manager, Daniel Knigge. He has always been very communicative, quick to respond, and checks in with us often to see if there is anything we are needing!
What do you dislike about the product?
One thing that I really disliked last year when doing our annual due diligence was the amount of time and manual effort it took to send questionnaires individually and set up a schedule. It seems that changes have been made on the Venminder platform to better support this, and am looking forward to seeing how it has been improved.
Another thing I think could be improved is the accuracy of contract processing by the Venminder team. There was a period of time last year where we heavily relied on Venminder to input contract details, and now I dont think it's worth it becuase of how much it had to be checked and readjusted.
One last thing is that I wish there was a way to view documents/contracts that you've updloaded without having to download them.
Another thing I think could be improved is the accuracy of contract processing by the Venminder team. There was a period of time last year where we heavily relied on Venminder to input contract details, and now I dont think it's worth it becuase of how much it had to be checked and readjusted.
One last thing is that I wish there was a way to view documents/contracts that you've updloaded without having to download them.
What problems is the product solving and how is that benefiting you?
Previously, we were using a couple different platforms to track vendor information, and this has consolidated everything in one place where we can easily track things like contract status and contact information. It has also solved the issue of a proper vendor due diligence by being able to send out questionnaires to our vendors.
Great resource to start or enhance your TPRM program!
What do you like best about the product?
Venminder offers a lot of "out the box" and customizable solutions, which allowed us to create a fundamental framework for our third party risk management program. Additionally, one of the great features are all the support tools, training, instructional videos and guides available online. In conjunction with the support of our Client Success Manager, we were able to get adequate training for our staff and get feedback on any question or inquiry we had throughout the entire implementation process.
What do you dislike about the product?
I'd like the ability to have further optins to customize reporting to our fitting. Although there are otions to customize what information/fields are included in the report, certain reports needed to be merged for us to get one compresensive report.
What problems is the product solving and how is that benefiting you?
Having a repository and platform to manage all vendors. Venminder allows us to establish an onboarding, due diligece, oversight and offboarding process that is easily tracked and manageable. Additionally, the ability to route actions needed, accountability and tasks to users based on roles, departments, etc.
Venminder Review - 5.30.2024
What do you like best about the product?
Using Venminder is the most efficient way to streamline a vendor management program. The benefits of logging vendors and their respective risk information in Venminder Exchange isn't even comparitive to the old, outdated way of saving everything in a folder.
Additionally, by outsourcing assessments to Venminder, our Vendor Management team saves time and money. With this service there is not a need to review the information ourselves or hire employee(s) who specialize in particular areas.
Lastly, there has never been a better way to send questionnaires to vendors than using the questionnaire feature in Venminder. Fully customizable, directly sent out of the platform, progress tracking, completion notification - what more could you ask for?
Additionally, by outsourcing assessments to Venminder, our Vendor Management team saves time and money. With this service there is not a need to review the information ourselves or hire employee(s) who specialize in particular areas.
Lastly, there has never been a better way to send questionnaires to vendors than using the questionnaire feature in Venminder. Fully customizable, directly sent out of the platform, progress tracking, completion notification - what more could you ask for?
What do you dislike about the product?
There are not many things to dislike about Venminder, in fact, only one thing comes to mind. Venminder, like all companies, must complete updates to their software, and unfortunately, sometimes this causes random bugs in the Exchange platform. If our team notices something off, or a feature not working properly, we contact support and the fix is usually taken care of in a day or two.
What problems is the product solving and how is that benefiting you?
Venminder solved our problem of manually tracking and risk rating vendors. This is beneficial because our institution maintains around 500 vendors/products. Also, having the ability to pull reports containing broad overviews or specified information about our vendor profiles is beneficial when it comes to monthly reporting. On a monthly basis, we use numerous reports out of Venminder to provide a high-level summary to the appropriate committees and personel.
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