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Venminder Reviews & Product Details - Page 4

Venminder Overview

What is Venminder?

Venminder is a market leader in third-party risk management solutions. Venminder caters to the complex requirements of third-party risk management with robust solutions and expert guidance. The market-leading provider hones its solutions to address the evolving needs of risk management across various industries, servicing customers from startups to Fortune 100 organizations. Venminder's cutting-edge platform offers a centralized space for comprehensive third-party risk management. The third-party risk management software includes but is not limited to vendor onboarding and offboarding, document storage, contract and SLA tracking, questionnaire management, risk assessments, workflow creation, and comprehensive reporting. This versatility allows organizations to customize and streamline the risk management of suppliers, vendors, and third parties. Venmonitor™ is one of Venminder's standout risk intelligence solutions, designed to revolutionize third-party screening. It empowers customers to quickly screen potential or current third parties across multiple risk domains with less manual activities and without the need for direct involvement with the suppliers. With Venmonitor™, organizations gain deeper insight into crucial areas such as cybersecurity, business health, privacy, Know Your Vendor, and more. Thanks to daily refresh capabilities, users are equipped with continuous and up-to-date monitoring, ensuring that they remain ahead of any potential risks. Vendiligence™, another Venminder solution, is an outsourced service that performs on-demand control assessments on vendors, such as information security, data protection, cybersecurity, and financial health. Venminder's team of highly qualified experts includes CISSPs, CPAs, financial risk analysts, paralegals, and more. Available in an extensive online library, these risk-based assessments facilitate identifying and understanding potential risks and strengths related to vendors' information security posture, privacy standards, SOC reports, financial viability, business continuity/disaster recovery preparedness, contractual standards, and regulatory compliance. Venminder’s services also include vendor document collection, relieving customers of the cumbersome task of chasing paperwork. Additionally, their expert advisory services assist customers in aligning their third-party risk management policies and procedures with leading industry standards. Venminder is more than a solution provider; they are a knowledge hub for the industry. Venminder’s experienced professionals frequently contribute to industry conversations at conferences through educational content and hosting CPE credit-eligible webinars. Venminder also offers Third Party ThinkTank, the world’s largest online networking community dedicated to third-party risk professionals to share insights and best practices.

Venminder Details
Product Website
Languages Supported
English
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Product Description

Software & due diligence experts who significantly reduce your vendor management workload.

How do you position yourself against your competitors?

In the third-party risk management landscape, Venminder is an all-encompassing partner, offering a unique combination of advanced software, expert-driven risk-based assessments, risk intelligence data, and continual guidance. Venminder emphasizes the human element, providing customers access to highly qualified experts with support and specific insight.

The Venminder platform goes beyond traditional risk management tools, incorporating education and industry insight elements that give customers a valued partner. Venminder equips businesses with tools to manage vendor risk effectively and empowers them to anticipate future challenges and opportunities in the rapidly evolving risk landscape.

Unlike other providers that spread their focus across various areas of risk management, Venminder concentrates specifically on third-party risk management. They deliver an in-depth, integrated approach. They provide businesses with solutions like Venmonitor™, which streamlines the screening and monitoring of third parties. Venminder is a dedicated solution for all third-party risk management needs, providing insights and capabilities others cannot.


Seller Details
Seller
Venminder
Company Website
Year Founded
2001
HQ Location
Elizabethtown, KY
Twitter
@venminder
473 Twitter followers
LinkedIn® Page
www.linkedin.com
221 employees on LinkedIn®
Description

Venminder is an industry recognized leader of third-party risk management solutions. Dedicated to third-party risk, the company is the go-to partner for software, high-quality assessments on vendor controls, certified subject-matter expertise and education. Venminder’s platform provides a centralized location to execute a third-party risk management program. It enables users to store documentation, onboard a vendor, track contracts, manage SLAs, send and manage questionnaires, manage due diligence and oversight, complete risk assessments, create workflows, run reporting and more. Assessments performed by Venminder’s qualified experts, including CISSPs, CPAs, financial risk analysts, paralegals and more, are readily available in an online library. The assessments enable clients to identify possible risks and understand areas of strength on their vendors’ information security and privacy standards, SOC reports, financial viability, business continuity/disaster recovery preparedness, contractual standards, regulatory compliance and more. Venminder clients also use the firm to streamline due diligence processes by outsourcing vendor document collection; and regularly consult with Venminder’s experts to ensure their third-party risk management policy and procedures meet industry standards. The Venminder platform is used by 1,000+ customers across a wide range of industries to execute their third-party risk management programs. As the company’s solutions are designed to accommodate growth and various levels of program maturity, customers range in size from small to Fortune 100 organizations.As the industry’s go-to leader, Venminder’s team of highly experienced professionals regularly speak at conferences, provide the latest research and educational content, host CPE credit eligible webinars and provide access to an online networking community for third-party risk professionals, Third Party ThinkTank. #thirdpartyrisk #vendorrisk #supplierrisk #vendormanagement


Deirdre G.
DG
Overview Provided by:
Chief Marketing Officer at Venminder

Recent Venminder Reviews

Verified User
A
Verified UserMid-Market (51-1000 emp.)
4.5 out of 5
"Knowledge Available seems Endless!"
The overall experience has been great. I was new to vendor management (and I am still learning) since I started working as our Risk Management Spec...
AS
Abhishek S.Small-Business (50 or fewer emp.)
3.5 out of 5
"Good product"
Great monitoring tool for vendor risk management. The overall experience has been great.
Verified User
A
Verified UserMid-Market (51-1000 emp.)
5.0 out of 5
"I love it!"
I love that Venminder has paralegals on staff that assist with uploading contracts on your behalf. It's really helpful when you're managing contra...
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110 Venminder Reviews

4.7 out of 5
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110 Venminder Reviews
4.7 out of 5
110 Venminder Reviews
4.7 out of 5

Venminder Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for VenminderQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
Verified User in Financial Services
UF
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

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 Review collected by and hosted on G2.com.

What do you dislike about Venminder?

Nothing to mention at this time. Overall happy. Review collected by and hosted on G2.com.

What problems is Venminder 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. Review collected by and hosted on G2.com.

Verified User in Banking
AB
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

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. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

If I had to pick anything, it would be the notification settings. Review collected by and hosted on G2.com.

What problems is Venminder 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. Review collected by and hosted on G2.com.

Verified User in Banking
EB
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

The most helpful thing is the Venminder team. The software is helping us managing vendors more effectively and efficiently. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

At this point, I don't see any downsides. Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Managing vendors entirely through the software and eliminating the large amount of emails. Review collected by and hosted on G2.com.

HB
Contracts and Procurement Specialist
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
(Original )Information
What do you like best about Venminder?

Venminder helps with Vendor Management and administration and is helpful in the ongoing administration of vendors and their associated contracts Review collected by and hosted on G2.com.

What do you dislike about Venminder?

Takes more turn around time than before to enter contracts information if contract is submitted to Venminder for entry Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Management of Vendor and Associated Cotracts Review collected by and hosted on G2.com.

Verified User in Banking
AB
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best about Venminder?

the customer service is fantastic, the continious webinars, and the fact i can ask a question and get an answer with related topics and helpful links is phenominal. having a contact person who cares makes a difference. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

we have to pay for additional services in the venminder software. Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

having subject matter experts take control of their vendors they use so not one person is in control of over 100 plus vendors. Review collected by and hosted on G2.com.

DB
Vendor management specialist
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

Customer Support,Vendiligence does it for you. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

No user guide. I like step by step instructions as I'm a visual person Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Keeping us in compliance Review collected by and hosted on G2.com.

Verified User in Banking
UB
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

User-friendly platform, very responsive and knowledgeable customer support, helpful webinars Review collected by and hosted on G2.com.

What do you dislike about Venminder?

Some vendors do not share their financial and regulatory documents with Venminder so it is cumbersome to obtain those documents from the vendor. Review collected by and hosted on G2.com.

What problems is Venminder 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. Review collected by and hosted on G2.com.

Verified User in Banking
AB
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

Good customer support and access to resources for building out a comprehensive vendor management program. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

The user interface is difficult to navigate at first because there are so many features and functions. Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Venminder provides the features and tools for effective vendor risk management and regulatory compliance. Review collected by and hosted on G2.com.

Verified User in Commercial Real Estate
AC
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

The fact that I can manage all my vendors in one single place from onboarding to offboarding. It is a one stop shop. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

Some features are rigid and there are certain forms that should be more customizable Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Having to deal with vendor requests via email and spreadsheets Review collected by and hosted on G2.com.

Verified User in Banking
AB
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Venminder?

Ease to develop the 3rd party management tool per your organization needs. Also the support team is very helpful. Review collected by and hosted on G2.com.

What do you dislike about Venminder?

Sicne the tech is evolving, sometime frequently changing inface can be challenging from trainng aspect. Review collected by and hosted on G2.com.

What problems is Venminder solving and how is that benefiting you?

Better management of 3rd party relationships. Review collected by and hosted on G2.com.