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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.
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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.
Would Recommend !!!
What do you like best about the product?
This product is easy to navigate and simple to use. The staff is extremely helpful, professional, and quick at responding. If I had to go through the process of choosing a Vendor Management Program, I would choose Venminder again!
What do you dislike about the product?
The only thing I would change is getting the product quicker!
What problems is the product solving and how is that benefiting you?
Venminder is helping the vendor review process to go smoothly.
Venminder will help streamline our vendor management process.
What do you like best about the product?
Our implementation rep Nicole Willson is very knowledgeable of the system and a great person to work with.
What do you dislike about the product?
Complete customization was portrayed in their advertising, but as we worked through the system, we are noticing that not everything is as customizable as we thought.
What problems is the product solving and how is that benefiting you?
Venminder is helping us create a more streamlined process that will allow for quicker and more efficient turnaround.
Easy to use and works as expected
What do you like best about the product?
I like the ability to store contracts and key vendor details. I also like the ability for the vendor owners and other SMEs to review docs and work together to complete reviews. It is nice having everything in once place.
What do you dislike about the product?
I would really like a more intuitive workflow (the website is very easy), but the workflow for initial and annual due diligence can seem clunky for a smaller institution. I also wish there was a notes section that you could make notes about the vendor/product to allow us in the TPRM to take notes on what they will do and how it works.
What problems is the product solving and how is that benefiting you?
Contract notifications going directly to our vendor leads and no longer managing in an excel document that can be missed has been helpful as it saves time and ensures there are no mishaps.
Venminder is a trusted partner and continues to grow their platform
What do you like best about the product?
The system provides a complete vendor management lifecycle, which helps with internal processes and regulatory requirements.
What do you dislike about the product?
The modules are not as seamless as they should be, especially between onboarding and ongoing.
What problems is the product solving and how is that benefiting you?
Vendor / Third-Party Risk Management from a process and regulatory perspective.
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