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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Community

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

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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

Sutton Bank Revamps TPRM Program for Success, Efficiency and Meeting Industry Regulations

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Centralized Processes

They now have a central location for documentation and the ability to send and complete questionnaires.

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Scaled Their Program 

Through streamlining the work, they increased efficiency and were able to grow their program.

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Reduced Workload

Software reduced miscommunication and assessments took document collection and reviews off their plate.

Challenge

Sutton Bank, headquartered in Attica, Ohio with close to $828 million in assets, is a community bank for the agricultural area of the state. As a highly regulated organization, the bank has a dedicated third-party risk team committed for ensuring their third-party risk management program meets all regulatory requirements and enables them to proactively mitigate third-party risks.

Prior to implementing Venminder, the bank had contracted with multiple technology software providers to meet their program’s needs. As those systems did not integrate or “talk” to one another, it made their program difficult to scale and mature, as well as being time consuming and cumbersome.

“We were using one provider to house documents and another to send and complete questionnaires. Ultimately, it was not an efficient use of our time and it was becoming harder to keep track of what we did have, what we didn't have and in what application they were housed in,” said Jolene Houpt, Third-Party Risk Analyst.

 

Solution

The team at Sutton Bank set out with the goal of deciding on the best provider where they could centralize all of their third-party risk processes, have the capabilities to scale their program as the bank continued to grow and streamline processes to meet necessary regulation requirements. Following a diligent review, the team chose the Venminder software platform as it provided the ability to house contracts and documentation, send and manage questionnaires, and complete risk assessments, in addition to other modules like Vendor Onboarding, where they could get their business units more involved. The Sutton Bank team also partnered to reduce their workload by having the Venminder team provide services, including, document collection, vendor business continuity assessments, financial health assessments and more.

 

Result

“Venminder has helped us revamp the entire program and move away from other applications to become much more efficient,” said Third-Party Risk Manager, Chris Sherman. “The amazing thing is, we are in a place where other business units can also use Venminder to check on the status of things independently instead of relying on us to check into that for them. That’s been really helpful, and the general feedback from everyone has been very positive.”

As a highly regulated bank, the team has already received positive feedback that highlights their achievements in scaling and driving efficiency in their program.

“We have received feedback during external audit exams that stated our documents were easy to find and provided them with what they were looking for. In addition, Venminder itself was easy to navigate, so that itself has been a big plus.”

In summarizing the bank’s experience with Venminder, Chris concluded, “Venminder’s customer service has been outstanding, and that's been the biggest thing. I look at our relationship with Venminder as a partnership – I truly feel like Venminder has a vested interest in our success, just as we do in Venminder succeeding. I would definitely recommend Venminder to other organizations to manage third-party risk.”

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About Sutton Bank
Sutton Bank is a community bank for the agricultural area of the state. As a highly regulated organization, the bank has a dedicated third-party risk team committed for ensuring their third-party risk management program meets all regulatory requirements and enables them to proactively mitigate third-party risks.

Industry: Financial Services

Company Size: $828 million in assets

Location: Ohio

Venminder Product: Software and Assessments

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