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-2021-cropped
State of Third-Party Risk Management 2021

Venminder’s State of Third-Party Risk Management 2021 survey provides insight into how organizations are managing third-party risk management in today’s increasing regulatory and risky climate.

DOWNLOAD NOW

podcast

Understanding Initial Vendor Due Diligence

CPE Credit Eligible

What is initial vendor due diligence?

Initial due diligence is important for a few reasons. Listen to this week’s podcast to break down what initial vendor due diligence is and why your organization should incorporate it into your vendor management program.

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

joshua-cooper-headshot-CIRCLE

 

Podcast Transcript

Hi – my name is Josh with Venminder.

In this 90-second podcast, you’re going to learn what initial vendor due diligence is and why it’s important.

At Venminder, we have a team of industry experts who specialize in collecting and analyzing vendor due diligence daily.   

What is initial due diligence? Initial due diligence, also known as “vendor vetting”, is analyzing and verifying that your prospective vendor meets your needs and is in regulatory compliance. It helps you determine if a vendor relationship would help achieve your organization’s strategic and financial goals and then continue to mitigate identified risks to the best of your ability.

Why is initial due diligence important? Initial due diligence is important for quite a few reasons, but here are 4 big reasons:

  • First, it’s a regulatory requirement. According to OCC Bulletin 2013-29, the second stage of the vendor lifecycle is due diligence and vendor selection. This is where initial due diligence takes place.
  • Second, it helps eliminate unwanted and costly surprises. Initial due diligence helps identify risk prior to doing business with a vendor so that you’re not surprised down the road.
  • Third, it confirms you’ve selected the best vendor for the product or service at the fairest price. That’s a big win for your organization.
  • Fourth, it gives you an opportunity to write specific requests into the contract. As you perform your initial due diligence, you may notice something you want to write into your vendor contract such as an annual due diligence request. This gives you an opportunity to do so before you sign on the dotted line. Remember, it’s a lot more challenging to get something into a contract after it has been executed.

Initial due diligence is extremely valuable and is a significant component of the overall vendor lifecycle. I hope you found this podcast helpful.

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