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.

VX LP Sequence USE FOR CORPORATE SITE-thumb
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.

CREATE FREE ACCOUNT

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

1.7.2020-what-is-a-third-party-risk-assessment-FEATURED
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.

DOWNLOAD SAMPLES

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.  

See Upcoming Webinars

On-Demand Webinars

 

Community

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

Weekly Newsletter

Receive the popular Third Party Thursday newsletter into your inbox every Thursday with the latest and greatest updates.

Subscribe

 

Venminder Samples

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

resources-whitepaper-state-of-third-party-risk-management-2023
State of Third-Party Risk Management 2023!

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

DOWNLOAD NOW

Characteristics of a Good Vendor Relationship

2 min read
Featured Image

Okay, I’ll admit it – there are always certain companies that I admire and are my favorites to do business with. 

I won’t name names, but as you read this, hopefully you can identify ones of your own.

If not, then it's really time to consider looking at your contracts and making a plan to switch out vendors. 

What does a good vendor relationship involve?

As a third party risk manager, why do I have favorites? There are many reasons, but it all starts with trust and a strong working relationship. I know that when I’ve asked a vendor for something, they’ve delivered, and hopefully, that works in reverse, too. Specifically, let's point out positives in various areas:

Due Diligence Is Easy:

They’ve consistently delivered accurate, meaningful and timely information. Where there is confusion, they ask for clarification and we discuss alternatives; it isn’t a simple “no”.

Highlights Risks or Concerns:

We work together in a mutually respectful manner to communicate risks and concerns. We may not always agree, but we always find ways to work together. 

Contracts Are Fair:

When it comes to putting together a contract – new or renewal – it’s not a game of who can get the real advantage over the other, it’s a shared quest for a win/win.  The contracts need to be robust and with mutual obligations and protections; we know it’s in both of our best interests.  

Strive for Good Communication

Things won’t always go right, but even when there’s an honest difference of opinion, we can agree to disagree but have our companies work well together.

Yes, perhaps I’m idealistic and naïve at times in thinking it can always go somewhat smoothly, but it’s a great goal to strive for.  And chances are better when you simply communicate with each other.

As a third-party risk manager, I’m looking to protect my company’s interests, certainly, but I firmly believe that a good vendor relationship means that our work together strengthens and protects both of our companies.  

Do I Stay or Do I Go? A Vendor Management Valentine Infographic

Subscribe to Venminder

Get expert insights straight to your inbox.

Ready to Get Started?

Schedule a personalized solution demonstration to see if Venminder is a fit for you.

Request a Demo