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

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

READ REPORT

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. 

resource-whitepaper-state-of-third-party-risk-management-2022
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.

DOWNLOAD NOW

podcast

10 Quick Signs Your Vendor's Financial Performance is Declining

CPE Credit Eligible

Is your vendors financial health declining?

Monitoring your vendors and their financial performance is more important than ever with the current pandemic. Protect your organization by looking out for the 10 signs covered in this 90-second podcast that will indicate your vendor's financial performance is declining.

Available on
Listen-on-Apple-Podcasts-badge.jpg  google-play-badge 2.jpg

 

Podcast Transcript

joshua-cooper-headshot-CIRCLE

Hi – my name is Josh with Venminder.  

In this 90-second podcast, you’re going to learn how to recognize the signs your vendor may be experiencing a decline in financial performance.  

At Venminder, we have a team of industry experts such as certified public accountants who specialize in reviewing vendor financial statements every day.  

Look out for these ten tell-tale signs your vendor is struggling. This is especially important to notice during these changing and challenging times.

  1. First, cost cuts and staff reductions. When a vendor cuts costs and then reduces staff, this could affect the level of customer service that you’ve been receiving.

  2. Second, information security issues. Staff reductions will likely sacrifice experienced team members who understand how to maintain an adequate level of controls. You can expect problems to begin showing up in SOC audits, for example.

  3. Third, rapid turnover. You may notice a rapid churn among executive staff or business lines.

  4. Fourth, research and product development stalls. A vendor could quit spending on product development, sunset a product or sell their operating division.

  5. Fifth, inferior service. Less people mean that service may begin to degrade. Be prepared to wait for a call back or, even worse, your customers are forced to wait longer for answers.

  6. Sixth, bad press and litigation. Declines in service levels tend to result in bad press and, eventually, pending litigation.

  7. Seventh, merger & acquisition activity. If your vendor acquires or is acquired, money can be tight.

  8. Eighth, a lack of communication. You may notice a decline in the frequency or quality of communication from your vendor’s account representative.

  9. The ninth tell-tale sign is slow pay problems. Cascading issues resulting from poor financials can lead to service level gaps and delays in payment.

  10. And the tenth is poor, long-term financial performance. This is often reflected in lousy earnings quarter-over-quarter or year-over-year.

As you can see, there are a lot of behaviors that point to the possibility of financial stress. Thanks for tuning in; catch you next time!  

38116-newsletter

Subscribe to our Third Party Thursday Newsletter

Receive weekly third-party risk management news, resources and more to your inbox.

 

New Call-to-action

Ready to Get Started?

Schedule a personalized solution demonstration to see how Venminder can transform your vendor risk management processes.

Request a Demo