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Venminder has changed my life!
What do you like best about the product?
Venminder has completely revolutionized our approach to business operations. Gone are the days of being caught off guard by surprise auto-renewals. The software's user-friendly interface and intuitive design have made managing our contracts, payment information, invoices, and receipts a seamless and efficient process. Now, all these vital documents are consolidated in one easily accessible location, eliminating the need to sift through numerous online folders or search through multiple emails to locate the information we need.
The vendor lifecycle feature has been extremely useful, especially for managing vendor performance issues. Sending out questionnaires and RFPs to our vendors is effortless. The document library enables everyone in our organization to access the most up-to-date templates for contracts and agreements. The risk assessment tools help us quickly identify and address potential issues. Automated reminders ensure that we never miss important deadlines. Venminder's customer support is responsive and helpful. Overall, Venminder is excellent and has significantly streamlined our vendor management process.
The vendor lifecycle feature has been extremely useful, especially for managing vendor performance issues. Sending out questionnaires and RFPs to our vendors is effortless. The document library enables everyone in our organization to access the most up-to-date templates for contracts and agreements. The risk assessment tools help us quickly identify and address potential issues. Automated reminders ensure that we never miss important deadlines. Venminder's customer support is responsive and helpful. Overall, Venminder is excellent and has significantly streamlined our vendor management process.
What do you dislike about the product?
Nothing! I love he instant customer service.
What problems is the product solving and how is that benefiting you?
Keeping everything in order - both current vendor contract and contract templates for prospective vendors.
Wonderful company to work with
What do you like best about the product?
The responsive team. They go above and beyond to assure that all of our needs are met. Enhancements are made throught the year as we (and other users) request them. We use this system on a daily basis to ensure that we are meeting our regulatory guidelines and keeping the company safe from unnecessary risks.
What do you dislike about the product?
When requested enhancements are more complex, they take longer to implement. This is not a huge deal because our Venminder liason always troubleshoots and comes up with work arounds until the fix is in place.
What problems is the product solving and how is that benefiting you?
Tracking of tasks needed to be sure that we are identifying and mitigating risks, tracking our vendors and the contracts associated with them. Ensuring that we are treating all vendors (dependent on risk) the same and the ability to show evidence as proof.
Best-in-class TPRM Solution!
What do you like best about the product?
Venminder takes a comprehensive approach to risk management, utilizing subject matter experts and a strong technology platform to provide clients with an all-in-one solution for effectively and efficiently executing their TPRM program. They offer best-in-class service and support!
What do you dislike about the product?
Certain functions lack customization abilities.
What problems is the product solving and how is that benefiting you?
The Venminder team acknowledges the necessity to improve their reporting capabilities and has communicated plans to introduce a new comprehensive feature.
Positive Venminder Experience
What do you like best about the product?
Jennifer Benjamin. Jennifer is exceptional in her role as a Senior Customer Success Manager. She is always prompt in her responses to my inquiries and suggestions for improvement. No issue has gone unresolved, no question unanswered and I always feel better equiped to navigate venminder post communication.
What do you dislike about the product?
I would hope to improve Reporting, communications out of venminder for SME's specifically during diligence events so that we cah track the conversations and send updates to stakeholders without navigating to email. I would also be interested in what intergrations and auto-population features we could include so that our business users can update a record once and it be reflected in venminder and potentially their individual dashboards.
For initial diligence I would like to have an API functionality directly to the assessment that sets the inherent risk or have a public link available to post on our internal site.
For initial diligence I would like to have an API functionality directly to the assessment that sets the inherent risk or have a public link available to post on our internal site.
What problems is the product solving and how is that benefiting you?
Venminder has allowed us to streamline our diligence process and offer a one stop shop for third-party related information. They have also made it easier to run our diligence campaigns and maintiaing the records received.
Venminder is a time-saving and helpful asset in vendor management.
What do you like best about the product?
User-friendly platform, very responsive and knowledgeable customer support, helpful webinars
What do you dislike about the product?
Some vendors do not share their financial and regulatory documents with Venminder so it is cumbersome to obtain those documents from the vendor.
What problems is the product solving and how is that benefiting you?
Venminder saves a lot of time by organizing all vendor information within the platform. It is easy to provide vendor information to regulators.
Very satisfied with the Venminder tool
What do you like best about the product?
The fact that I can manage all my vendors in one single place from onboarding to offboarding. It is a one stop shop.
What do you dislike about the product?
Some features are rigid and there are certain forms that should be more customizable
What problems is the product solving and how is that benefiting you?
Having to deal with vendor requests via email and spreadsheets
Everything's centralized. The platform is easy to navigate search with great continuous monitoring.
What do you like best about the product?
Centralized platform: Venminder provides a central location to store all of my vendor information, track contracts, manage risk assessments, and collaborate with other team members.
What do you dislike about the product?
If I had to pick anything, it would be the notification settings.
What problems is the product solving and how is that benefiting you?
Helps my company stay on top of compliance regulations. Helps my company monitor our vendors for changes that could indicate an increased risk.
Third Party Risk Management Made Easy
What do you like best about the product?
Venminder support is amazing and always willing to help. We have a dedicated account manager who listens to our needs and pulls in others as she sees fit. I am in this tool every day and it has streamlined our vendor management processes. It has also enabled us to be more strategic about our vendor management processes and not focus on the 'little things' which Venminder takes care of for us.
What do you dislike about the product?
There are a few limitations around specific usability features that we miss. There is a bit of a lack of customization in some areas.
What problems is the product solving and how is that benefiting you?
Venminder has helped us streamline our vendor management process and has enabled us to stand up a third party risk management program.
Using Venminder to get control of the vendor management process.
What do you like best about the product?
By having everything in one place, it makes it much easier to manage all the information and understand were your vendor management program is.
What do you dislike about the product?
There needs to be a better way to get information out of the system such as reports to monitor activity beyond the existing reports and dashboards.
What problems is the product solving and how is that benefiting you?
Third party analysys of complex SOC and financial data, centralized storage for all things vendor management, flexibility in building risk assessments and questionaires, access to other users and training materials to help continue to mature the Vendor Management program.
Great Product for unique risk management use.
What do you like best about the product?
The platform is very easy to use, succinct in the data and information displayed, and displays pertinent updates. The Customer support is fantastic! They are a great team that provides almost immediate response to any questions and the account team worked very well with us to get the contract executed.
What do you dislike about the product?
Only real downside is the results of some updates to the risk level cause more questions to arise as to what the cause for the rating change entails.
What problems is the product solving and how is that benefiting you?
Venmonitor provides us with continuous monitoring for our Critical and High Risk vendors.
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