What do you like best about the product?

Great monitoring tool for vendor risk management. The overall experience has been great.

What do you dislike about the product?

Pricing could be improved and made competitive

What problems is the product solving and how is that benefiting you?

Solving business problem of client data management

What do you like best about the product?

I have had a very positive experience with Venminder. I was new to vendor management (and I am still learning) since I started working as our Executive Assistant. The Venminder team has been very helpful and willing to suggest ways to improve our risk management program as well as provide training when needed.

What do you dislike about the product?

The user interface can be intimidating at first, especially to those who don't have prior experience with vendor management software. However, the Venminder team is always willing to help navigate. The cost is on the higher side compared to similar services, which might deter some clients. There is a minimum flex fund balance in addition to the annual fee, which can be used for add-ons and to automate certain functions. For smaller organizations with limited budgets, these tools might not be necessary but since there is a minimum balance, you have to use some services. There are somewhat limited settings for reports you can pull as well, which can make it difficult to read a report without spending more time on it. The reports are created as a spreadsheet file though, so once you have downloaded it, you can edit the view for printing in that software. This just adds another step. There are some unnecessary tasks that are added for some of our vendors. We can pay for an add-on to limit the tasks for certain types of vendors, but the cost is pretty high. I would be more vigilant in setting up the correct tasks and reminders for vendors when we first add them so we don't have to manually change the tasks at this point, when we have had these vendors for a long time.

What problems is the product solving and how is that benefiting you?

It is convenient to have all our contracts in one place and know we have support if we need it. The tools are very helpful with the option to automate due diligence and the Venminder team helps us to collect due diligence documents when needed so we aren't spread too thin with other tasks.

What do you like best about the product?

Easy to navigate and full vendor vetting.

What do you dislike about the product?

The only thing I would say that could help more is when a questionnaire is sent being able to see the question the vendor has answer if the questionnaire is not completed. Live view of the questionnaire.

What problems is the product solving and how is that benefiting you?

Venminder is our vendor management, which we use to send our vetting questionnaire and save our agreement. Store all our due diligence reviews. Monitor our high vendors and collect documents needed for vetting high-risk vendors.

What do you like best about the product?

Vendminder simplifies compliance tracking by providing a centralized repository for all compliance-related documents and information. It offers real-time updates and alerts to help organizations stay compliant with industry regulations and standards.

What do you dislike about the product?

The platform tends to have a one-size-fits-all approach, which can be restrictive for organizations with unique or highly specific needs. For instance, users might find it challenging to tailor risk assessment questionnaires or compliance checklists to fit their organization's particular industry standards or internal policies.

What problems is the product solving and how is that benefiting you?

endminder provides robust tools for assessing vendor risks, including detailed questionnaires and risk scoring models. These tools help organizations identify potential risks early on and take appropriate measures to mitigate them.

What do you like best about the product?

We've had it a few years but I'm new to using Venminder myself even though I have experience with several other platforms. We love the interface, it's easy to use and intuitive for new users. It's a great solution to help us key in contract dates and set up notificaitons so we don't miss a date. It's really a full suite of applications and servers 99% of our needs without having to purchase additional modules. Pricing seems comporable to others I've used in the past for what you get, we just need to use it to more of it's potential and so far it's been very helpful in getting us on track with our vendor due dilegence requirements where we're not just doing it to check the box but it's helping us avoid risk.

What do you dislike about the product?

When exploring other services and add-on's it refers you to Talk to Sales where I prefer a little more self service when trying to access demo's, view pricing and add services without needing to speak with a rep. When I have talked to our rep or support it's been great, but sometimes it's helpful to do it on my own.

What problems is the product solving and how is that benefiting you?

It's great for contract lifecycle management but it's really helpful at keeping all the different business units together in how we manage vendors. Some departments are more experienced at this than others but it's easy to pull a report on where everyone is at.