Venminder Pros and Cons

I've used Venminder at multiple financial institutions, and every working day, and it's only improved over the years. The Control Assessments are a great help for a lean TPRM function and take some of the load off. Each CSM I've had has been abundently helpful and quick to help any time it's needed. The interface is easy to use and move through and implementation is a breeze, with Venminder being more than willing to schedule a call anytime it's needed. Outside of you CSM, the customer service chat function within the system is incredibly helpful if you have an immediate need. Review collected by and hosted on G2.com.

I have very few complaints with the system, and Venminder is always open to suggestions and often implements user suggestions! That said, it would be nice to have a bit more role-based access, and until recently, I would have also said that the contract module could use a bit of work as there was no way to identify parent-child contracts, but they've recently made updates to the system that do allow for that! Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

Nothing! I love he instant customer service. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

The most helpful thing about using Venminder is all of your 3rd party information is in ONE location, you can track their basic information, invoicing, contracts, questionnaires, and risk assessments all in ONE place!!

The tool is very easy to use, the implementation and support teams are FANTASTIC! I love the Single-Sign-On and that it was easy to integrate with Black Kite, our 3rd party riks monitoring tool. Review collected by and hosted on G2.com.

So far I haven't found anyting I don't like. Review collected by and hosted on G2.com.

With Venminder, we were able to create a Risk Assessment questionnaire that any staff person can perform. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

The biggest complaint is the lack of customization. There are some but many features lack the flexibility to fully customize. Review collected by and hosted on G2.com.

Venminder provides an easy-to-use centralized repository for vendor information, risk assessments, due diligence, and contracts and renewal dates and reminderds, which makes it easier to manage vendor relationships. They also provide valuable support and expert guidance to our team. Review collected by and hosted on G2.com.

We are not taking advantage of the outsourced managed services due to the additional cost, so we still have to do the risk assessments, oversight, etc. Review collected by and hosted on G2.com.

Venminder is impressive. The ease of navigating, on-going software development, and account management support makes a users life easy and stress free. Review collected by and hosted on G2.com.

Full transparency, I don't have any dislikes associated with Vendminder. I guess I can add I wish I started to use Venminder sooner. Review collected by and hosted on G2.com.

By having everything in one place, it makes it much easier to manage all the information and understand were your vendor management program is. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.