Software

Gain a 360-degree view of third-party risk by using our SaaS software to centralize, track, automate, assess and report on your vendors. 

Managed Services

Let us handle the manual labor of third-party risk management by collaborating with our experts to reduce the workload and mature your program. 

Overview
Document Collection
Policy/Program Template/Consulting
Virtual Vendor Management Office
Vendor Site Audit

Ongoing Monitoring

Let us handle the manual labor of third-party risk management by collaborating with our experts.

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Venminder Exchange

As Venminder completes assessments for clients on new vendors, they are then made available inside the Venminder Exchange for you to preview scores and purchase as you need.

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Use Cases

Learn more on how customers are using Venminder to transform their third-party risk management programs. 

Industries

Venminder is used by organizations of all sizes in all industries to mitigate vendor risk and streamline processes

Why Venminder

We focus on the needs of our customers by working closely and creating a collaborative partnership

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Sample Vendor Risk Assessments

Venminder experts complete 30,000 vendor risk assessments annually. Download samples to see how outsourcing to Venminder can reduce your workload.

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About

Venminder is an industry recognized leader of third-party risk management solutions. 

Our Customers

900 organizations use Venminder today to proactively manage and mitigate vendor risks.

Get Engaged

We provide lots of ways for you to stay up-to-date on the latest best practices and trends.

Gartner 2020
Venminder received high scores in the Gartner Critical Capabilities for IT Vendor Risk Management Tools 2021 Report

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Resources

Trends, best practices and insights to keep you current in your knowledge of third-party risk.

Webinars

Earn CPE credit and stay current on the latest best practices and trends in third-party risk management.  

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On-Demand Webinars

 

Community

Join a free community dedicated to third-party risk professionals where you can network with your peers. 

Weekly Newsletter

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Venminder Samples

Download samples of Venminder's vendor risk assessments and see how we can help reduce the workload. 

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State of Third-Party Risk Management 2022

Venminder's sixth annual whitepaper provides insight from a variety of surveyed individuals into how organizations manage third-party risk today.

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Customer Success Stories

First State Bank Finds Value in Thorough Due Diligence and Improves Processes with Venminder

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Saved resources

With limited staff, utilizing Venminder's assessments proved to be very cost effective. 

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Increased compliance

The team is equipped to better meet regulatory expectations. They've gone through 3 exams/audits without complaints.

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Improved efficiency

The automation allows First State Bank to dig deeper faster in the areas that need attention. 

Challenge

At First State Bank, a small community bank based in Waynesboro, Mississippi, a big hurdle, due to their limited on-staff employees, was meeting the regulatory requirement that involved collecting and evaluating due diligence documentation. The bank was also using Excel spreadsheets to manage their vendors, which they found cumbersome and difficult to maintain.

“Being a community bank, we don’t have enough employees that have the time and the IT background to really evaluate in the manner we need to determine if our third-party providers are doing their proper due diligence in protecting our data. We were also using Excel spreadsheets which were not in-depth and definitely not easy to use,” said Connie Grimes, Vice President of Operations.


Solution

After several months of searching for the right partner, First State Bank chose to partner and onboard with Venminder for software and due diligence reviews.

“During onboarding, Venminder’s team became a true partner to me. They helped me with anything I needed and gave me advice. It was a very, very smooth process. Venminder representatives are almost like an extra employee for me.”

The bank feels by outsourcing reviews they are receiving an overall cost savings as opposed to hiring a full-time employee(s) to conduct the appropriate reviews.

“We use Venminder for reviews of vendor SOC reports and business continuity plans. The analysis we receive have been very beneficial. We are able to quickly go through the reports as opposed to going through say a 120-page SOC report. It allows us to see the areas with a vendor that requires our attention and we need to dig deeper into much faster.”


Result

Making the move to an automated software platform and gaining access to Venminder’s team of experts for due diligence reviews has worked out well for First State Bank’s vendor management program.

“Since partnering with Venminder and implementing all of our new vendor management procedures, we've actually had three exams/audits without any complaints about our vendor management program. I would recommend Venminder to any other institution who are looking for some assistance with their vendor management program.”

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About First State Bank
First State Bank is a small community bank.

Industry: Financial Institution

Company Size: $800 million assets

Location: Mississippi

Venminder Product: Software and Assessments

Similar Success Stories

American Credit Acceptance

With limited staff, managing vendors in Excel and SharePoint was too inefficient and cumbersome.

Radius Bank

Outsourcing vendor due diligence reviews has reduced the bank's workload, saved time and increased efficiency.

Meriwest Credit Union

The credit union had examiners on-site who have found no issues with their vendor management program since partnering with Venminder.

Bank & Trust Company

The use of vendor management software has saved time, employee hours and kept examiners and auditors happy.

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