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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.
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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.
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.
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