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venminder is a great vendor management product
What do you like best about the product?
Venminder does a great job with contracts and document storage of vendor reviews and assessments.
What do you dislike about the product?
After using the product 2 years now I have not come across anything that hasn't helped us with vendor management needs.
What problems is the product solving and how is that benefiting you?
Vendminder has helped us out a lot with gathering financial, SOC's/SSAE's, and other supporting docs that would otherwise require another full time staff member.
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Great TPRM Platform
What do you like best about the product?
We use Venminder platform daily, and have taught new vendor owners how to navigate through it as well. is We continue to learn from the live webinars as well as the resources within in the platform.
What do you dislike about the product?
The new spend analysis feature is good, but would be great with some additional features added. I have reach out and as usually the are taking it into consideration.
What problems is the product solving and how is that benefiting you?
Venminder has solved several issues, such as document collection and contract expiration dates. It frees up having to reach out to all our vendors and request documents.
Simple-to-use solution for a complex problem
What do you like best about the product?
Automated processes are easy to use once everything is set up. Ability to create color-coded reports so that other, non-Vendor Management, team members can follow along is a life-saver. All this pales in comparison to the representatives we get to work with. For once, I do not dread reaching out for help because when I do 1) my problems are solved, 2) explained, and 3) and followed-up on within the month just to ensure I have no other issues.
What do you dislike about the product?
Like many risk solutions, you must buy "optional" modules to get the full benefit. I would say the base product/platform is lackluster until you have purchased all the modules necessary (once you purchase one, you will notice that you need another in order to fully utilize the service).
What problems is the product solving and how is that benefiting you?
Automation, reporting, and assistance with due diligence reviews. The automation and reporting speak for themselves. While pricey, the due diligence reviews are so well done that I rarely have to deep-dive to explain a product/service to the team. I can just take the "Assessment," as is, for the majority of my vendors.
I've had a great experience working with Venminder for our third-party vendors.
What do you like best about the product?
The Venminder employees I work with are the most helpful whenever I have questions about the platform.
What do you dislike about the product?
There are older documents we would like removed from our documents folder and we are currently working with Venminder to archive them.
What problems is the product solving and how is that benefiting you?
Hopefully, they'll help us solve removing the older documents from our folders.
Venminder is very user friendly.
What do you like best about the product?
Venminder continues adding new features that make the workflow easier to use and follow. It's very easy to maintain review periods of vendors and track oversight requirements in a structured fashion. Everything is housed within this online platform, contracts, MSA, SOWs, COI, SOC, BCP, Information Security policies, etc. Everything you need is under the vendor at any time once you've uploaded it. A place like Venminder to store all documentation is perfect when an audit firm requests information.
What do you dislike about the product?
The manipulation of oversight requirements/tasks sometimes gets a little bogged down. I want to be able to change future dated oversight tasks from in progress to not due. This only happens when clicked into and saved, but it causes the scheduled tasks to show incorrectly when it's actually set for a year out from now.
What problems is the product solving and how is that benefiting you?
Venminder continues to improve its workflow and help the user experience.
Valuable experience and learning
What do you like best about the product?
Venminder helps with Vendor Management and administration and is helpful in the ongoing administration of vendors and their associated contracts
What do you dislike about the product?
Takes more turn around time than before to enter contracts information if contract is submitted to Venminder for entry
What problems is the product solving and how is that benefiting you?
Management of Vendor and Associated Cotracts
Great company and great tool
What do you like best about the product?
The resource library is awesome. There are so many relevant documents that are helping me to transform our vendor risk program.
What do you dislike about the product?
I think the least helpful thing is that you aren't able to initiate Venminder's onboarding assistance through the tool. Ongoing assessment assistance can be initiated through the tool but not the onboarding.
What problems is the product solving and how is that benefiting you?
Venminder is helping us determine what vendors truly have potential risk to the organization. It then provides the tools to help track and mitigate those risks.
Our Account rep was so great and made sure that we understood everything before finishing the call.
What do you like best about the product?
Friendly and to the point with the information that we needed on Venminders contracts and risk assessments.
What do you dislike about the product?
There has been nothing that we haven't disliked on this system.
What problems is the product solving and how is that benefiting you?
We were put on the system with little to no experience and our Account Representative has been our HERO through this process. Venminder takes care of everything.
Recommendations to others considering the product:
Venminder is a great service, easy to get support when you need it.
Working with Venminder... WOW!
What do you like best about the product?
Our Rep and Customer Support has been the best to work with to accomplish our goals! Their trainings are insightful and the system has helped take our procedures to the next level!
What do you dislike about the product?
Currently, I do not dislike anything about Venminder.
What problems is the product solving and how is that benefiting you?
Our team has been doing procedures manually. We are building out a more automated system and have been taking their trainings to better our knowledge.
Recommendations to others considering the product:
The system is user-friendly but if needed their trainings on the system are very helpful. I love taking their knowledge trainings, topics such as "Risk Management" and "How to review a Contact" has been very insightful. The best is their Support Staff/Team. They are always willing to help and guide you.
Great platform, easy to use, great support!
What do you like best about the product?
It's a very easy platform to use. I can always get help quickly if needed.
What do you dislike about the product?
The system can be slow at times for reporting, but some of the files are quite large, so it's understandable.
What problems is the product solving and how is that benefiting you?
Consolidated TPRM platform. All info is on one easily searchable platform. Contracts are also uploaded and stored.
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