Venminder Releases New Vendor Issue Management Module

Elizabethtown, KY - Venminder, an industry recognized provider of third-party risk management solutions, today announced they have released a new module that allows for the centralization and implementation of processes that guide users through the lifecycle of vendor issues.

“When assessing and monitoring vendor risk and performance, it’s common for issues to surface that will require follow-up and management,” said James Hyde, CEO of Venminder. “With the launch of our issue management module, we are very excited to be able to empower our clients to set formal issue management processes and provide valuable visibility into the frequency, severity and status of vendor issues so our clients can take the appropriate action.”

The new Issue Management module enables clients to:

• Create a consistent and centralized approach with unlimited custom fields and follow-up procedures as well as the ability to define approval workflows
• Increase visibility into vendor performance through robust reporting on the frequency, severity and status of all open and previous vendor issues
• Put processes in place to trigger actions and alerts so clients can quickly spot issues that could be indicators of risky behavior

For more information on Venminder, visit www.venminder.com.