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Ven-taskic!
What do you like best about the product?
Their customer service is top-notch, plus their software is vendor-centric and not just an afterthought to an exisitng software for another use.
What do you dislike about the product?
There have been some hiccups with getting names straight in the monitoring piece.
What problems is the product solving and how is that benefiting you?
They have allowed our firm to increase our productivity in oversight as well as being able to have daily eyes on our vendors.
Venminder is Top Notch
What do you like best about the product?
Ease of setup and contract mgmt features.
What do you dislike about the product?
None that come to mind other than lower pricing would always be beneficial.
What problems is the product solving and how is that benefiting you?
Contract mgmt. Improved efficiency, reduced time spent on vendor mgmt.
Intuitive Interface & Superior Customer Support
What do you like best about the product?
Venminder's interface is incredibly intuitive and well organized. Very effective for navigation of all due diligence items across accounts. I found the platform very easy to navigate, and when there was ever any need, the live chat feature and phone call inquiries were met with a very polite and capable response.
What do you dislike about the product?
There is nothing I dislike about Venminder. I will look for them to continue to expand the number of companies for which they have reporting.
What problems is the product solving and how is that benefiting you?
Access to reports on potential vendors/partners is a very valuable feature. Also, keeping information centralized and organized is a key benefit.
Venminder has provided Quality Product and Excellent Service!
What do you like best about the product?
Venminder platform is highly customizable and flexible enough to meet varied business needs. Also, the reporting suite is robust enough to provide different cuts of your stored data.
What do you dislike about the product?
Objectively, no platform is perfect. With that said, Venminder is open to enhancement requests and implementing requests when feasible. In cases where technology gaps exist, in the interim, the people at Venminder have done an excellent job in providing support.
What problems is the product solving and how is that benefiting you?
Provide a leading-edge, central repository for our company's Vendor Security collateral. Most importantly, utilize the managed services component of Venminder to perform assessment reviews via their certified IS professionals. With a small staff, it allows the ability to scale appropriately to meet the demand of due diligence reviews.
Intuitive Platform for TPRM
What do you like best about the product?
Venminder takes a very 'customer service' focused approach to managing relationships. From onboarding to current touchpoint calls to customer support, everyone cares about the success of your implimenation.
What do you dislike about the product?
Some limitations may exist in functionality; however, the company is constantly releasing new features and upates.
What problems is the product solving and how is that benefiting you?
The tool brought a great deal of automation to our TPRM program, which has reduced the amount of time it takes to gather supporting documents and perform due diligence tasks.
Very user friendly with tons are features that can be utilized to automate manual processes.
What do you like best about the product?
Everything in is one place and easy to find/acess. Makes traking down information easy and consistent
What do you dislike about the product?
Processes can be delayed if the Venminder application is down, but this does not happen often.
What problems is the product solving and how is that benefiting you?
Solving problems on inconsistency with vetting a vendor with manual processes. Venminder improves consistency not only in vetting/onboarding, but also in timing in when reviews are due.
Recommendations to others considering the product:
Make sure your process is cleary defined and all the Venminder users/admins are on the same page for steps that need to be taken for documentation. Consistency is key!
Makes our jobs so much easier!
What do you like best about the product?
We are only using a few services as our second-generation vendor management system, but they are night and day different than the last supplier. They are so organized and responsive, really taking the time to respond to our unique needs.
What do you dislike about the product?
As we are only using a small portion of their services, their database is not as valuable for us as it's not our system of record, but I can see it would be very useful to other companies.
What problems is the product solving and how is that benefiting you?
They are helping us with risk assessments, TIN checking and Certificates of Insurance. It's freed up about an entire FTE for us.
Great experience thus far! Very intuitive.
What do you like best about the product?
The UI and depth of the platform; We can make more risk-based and educated decisions about our vendors faster than ever before.
What do you dislike about the product?
Nothing so far! We really have enjoyed using the whole product.
What problems is the product solving and how is that benefiting you?
Vendor consolidation was a huge problem; we needed to see all of our vendors, critical or not, in one pane of glass. This product let us do that from day one, and get away from the old spreadsheet method.
Venminder meets our needs
What do you like best about the product?
The solution makes it easy for us to manage the cybersecurity assessments for our third-party security risk management program
What do you dislike about the product?
The user interface of the platform is not intuitive. You get used to it after a while, but it takes some time.
What problems is the product solving and how is that benefiting you?
We use the solution to track the administration of the security assessments of our third-party vendors.
Venminder helps companies effectively manage third party risk
What do you like best about the product?
Pre-qualified/certified list of supplier profiles and certifications maintained and team of certified individuals augmented by external data sources to validate the info. This improves the quality and timeliness of the supplier profiles. Companies cannot afford to invest in all of these tools nor SMEs in each process and are often forced to pick and choose. Venminder provides this on-demand to meet the needs when it's needed.
What do you dislike about the product?
Currently focused on the financial and infosec side of supplier certification. Expanding into ESG related topics including sustainability and inclusion and diversity status would be great as this is a key focus area for companies. I understand the Venminder is moving in this direction.
What problems is the product solving and how is that benefiting you?
Accelerating the risk profiling of a supplier leveraging the certified profiles from the supplier database and executing new reports on demand. This has significantly improved the quality and consistency of the reports, and reduced effort by our team.
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