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Outstanding product and support
What do you like best about the product?
The platform is robust, customizable, and reliable. The training team is PATIENT, friendly and professional. They adjust to our needs and questions readily. I cannot recommend Venminder enough.
What do you dislike about the product?
I have yet to find anything I dislike about this platform or its employees.
What problems is the product solving and how is that benefiting you?
Our company is fairly complex with a wide variety of vendors. Venminder provides the tools for us to customize our questionnaires, risk assessments and vendor categorizing. We are able to pull data points for Board reports with ease.
Exceptional
What do you like best about the product?
Customer Support,Vendiligence does it for you.
What do you dislike about the product?
No user guide. I like step by step instructions as I'm a visual person
What problems is the product solving and how is that benefiting you?
Keeping us in compliance
Venminder is a great tool for TPRM.
What do you like best about the product?
I've used Venminder at multiple financial institutions, and every working day, and it's only improved over the years. The Control Assessments are a great help for a lean TPRM function and take some of the load off. Each CSM I've had has been abundently helpful and quick to help any time it's needed. The interface is easy to use and move through and implementation is a breeze, with Venminder being more than willing to schedule a call anytime it's needed. Outside of you CSM, the customer service chat function within the system is incredibly helpful if you have an immediate need.
What do you dislike about the product?
I have very few complaints with the system, and Venminder is always open to suggestions and often implements user suggestions! That said, it would be nice to have a bit more role-based access, and until recently, I would have also said that the contract module could use a bit of work as there was no way to identify parent-child contracts, but they've recently made updates to the system that do allow for that!
What problems is the product solving and how is that benefiting you?
Venminder Control Assessments have helped us conduct more concise reviews that allow our SMEs to have the time freed up for other tasks while still fulfilling the need to ensure safe and sound third party relationships. It's also helped us deliver better board reporting as we have the Venminder reviews to lean on for that reporting. Venminder has also helped us with continuous monitoring as we utilize Argos within the system - which helps us keep a better eye on our critical relationships when we are a lean function that may not always have the time to research our critical vendors outside of annual reporting.
I love it!
What do you like best about the product?
I love that Venminder has paralegals on staff that assist with uploading contracts on your behalf. It's really helpful when you're managing contracts and you're not a legal professional. I also like that information is presented on your homepage in dashboards. You can easily filter what contracts are coming up for renewal, what vendors you manage, etc. We went through our first regulatory exam last year while using Venminder. Our examiner had never heard of Venminder and was super impressed. Implementation was easy and customer support is the best. Super quick and friendly!
What do you dislike about the product?
The only downside during implementation was you have to manually bring over docouments from your previous vendor management system; however, it was worth it as I was able to uncover missing document.s
What problems is the product solving and how is that benefiting you?
Contract managament. We previously had poor contract management and Venminder's system is perfect for it.
Highly Recomend!
What do you like best about the product?
Venminder is a leader in this space because of their commitment to their users. They are constantly looking for ways to innovate and make things easier for both admins and business owners. In my experience Venminder has been extremely flexable and proactive when it comes to adding features requested by their users. Another important piece of Venminder is their educational tools. By regularly attending their webinars I am able to stay current on industry standards and get an understanding about how other TPRM programs run.
What do you dislike about the product?
There is not much I dislike but one thing that would be helpful would be a place where I could manage all the email notifications that get sent out to my business owners.
What problems is the product solving and how is that benefiting you?
Venminder gives us a clear understanding of how many vendors we use and where most of our risks fall. One of my favorite benefits of Venminder is the customer support. It is easy to get ahold of a representative whenever I have any questions and that has proven to be a big help.
Trusted Partner
What do you like best about the product?
Venminder has been a trusted co-pilot for all our Third Party Vendor Risk Management. They have guided us along the way and been there to answer all our questions
What do you dislike about the product?
Nothing to mention at this time. Overall happy.
What problems is the product solving and how is that benefiting you?
They allow us to have proper oversight over all our critical vendors. Their solution provides support along each step of the process.
Venminder Vendor Management
What do you like best about the product?
1) Level of personal attention provided to our VM team to onboarding/monitor/off-board third party service providers
2) Ease of Use - Ease in effectively utilizing the SaaS
3) Ancillary services provided by Venminder - Vendiligence and Venmointoring
4) Ability of our business owners to set-up prosepctive third party service providers
2) Ease of Use - Ease in effectively utilizing the SaaS
3) Ancillary services provided by Venminder - Vendiligence and Venmointoring
4) Ability of our business owners to set-up prosepctive third party service providers
What do you dislike about the product?
1) The Venmonitoring tools could be improved to provide more insight as to the ratings.
What problems is the product solving and how is that benefiting you?
1) Personal Attention from Nicole
2) Document Storage
3) Oversight
4) Inherent and residual Assessments
5) Capturing fourth parties
6) Capturing PII and othehr confidential information provided to third parties.
7) Mitigation support (Financial Health Assessment abd Data Protection Assesmsent) for when a vendor cannot provide audited financials or a SOC 2 Report
2) Document Storage
3) Oversight
4) Inherent and residual Assessments
5) Capturing fourth parties
6) Capturing PII and othehr confidential information provided to third parties.
7) Mitigation support (Financial Health Assessment abd Data Protection Assesmsent) for when a vendor cannot provide audited financials or a SOC 2 Report
A good tool for Vendor and Third Risk Management
What do you like best about the product?
In the past, we were using very manual methods of documenting contract information and evaluating third party risk. We explored many solutions and choose Venminder because of their customer service and implementation ease. We have been very impressed with the solution and really like how the initial contract information is entered by the Venminder team.
Customer support and the implementation team were wonderful. We also use the questionnaire and risk assessments for all vendors.
Customer support and the implementation team were wonderful. We also use the questionnaire and risk assessments for all vendors.
What do you dislike about the product?
The biggest complaint is the lack of customization. There are some but many features lack the flexibility to fully customize.
What problems is the product solving and how is that benefiting you?
Contract documentaiton and Third-party risk.
Our experience has been very pleasant with the Venminder Team
What do you like best about the product?
Ease to develop the 3rd party management tool per your organization needs. Also the support team is very helpful.
What do you dislike about the product?
Sicne the tech is evolving, sometime frequently changing inface can be challenging from trainng aspect.
What problems is the product solving and how is that benefiting you?
Better management of 3rd party relationships.
Managing Risk is best performed with Venminder
What do you like best about the product?
With Venminder, we were able to create a Risk Assessment questionnaire that any staff person can perform.
What do you dislike about the product?
The Risk Assessment questionnaire needs to be completed in one session. If continued on a 2nd day, the questionnaire freezes and staff is unable to continue.
What problems is the product solving and how is that benefiting you?
Venminder helps me to organize and complete the required due diligence on the critical vendors. We are able to involve several staff by assigning product ownership to them and requiring that they complete the Risk Assessment for each of their respective products and services.
Venminder helps me to schedule required due diligence for the critical vendors and to email the respective product/service owners on a regular basis.
Venminder helps me to schedule required due diligence for the critical vendors and to email the respective product/service owners on a regular basis.
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