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.