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Oversight Automation

Set the type and frequency of  vendor oversight.

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Preconfigure oversight requirements and frequency

 

Streamline the due diligence process by automating the type and frequency of oversight required on a vendor based on either their category or combination of risk factors (inherent risk rating, NPI access, and vendor criticality).

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Ensure the required due diligence is completed


Administrators provide the team with a clear, automated outline of what needs to be gathered, reviewed, and completed on vendors based on specific criteria that they can determine based off the organization’s vendor management policy and regulatory expectations.

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Increase vendor due diligence efficiency


By automating the process with systematic assignment and scheduling, you can save time on due diligence task designation and speed along the job.

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Drive consistency and compliance


By systematically assigning what is required on vendor types, the same level of due diligence is completed for each vendor fitting the defined automation requirements, and shows a trail of that activity.

Automate what tasks are assigned


The process of identifying what due diligence needs to be performed on each vendor can be time-consuming and cumbersome. Automate the process and ensure consistent execution of program requirements.

Quest Library

 

Create unlimited custom oversight requirements

You can create an unlimited number of custom oversight requirements. Set oversight at the administrator level.

Automate oversight by category or risk

Automate the assignment based off criticality, risk, NPI variables, or category. This creates consistency. For example, each high-risk vendor will have the same number of requirements automatically set up. You can also define the frequency. 

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Auto-assign task owners when new tasks are scheduled

Set up users or groups to be automatically assigned to certain tasks when they are scheduled.

You won't just hear it from us

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(4.6 out of 5 | 163 Gartner Peer Insights Reviews)
As of January 3, 2024
"Their vendor assessment service takes a significant amount of time and pressure off of our staff, who don’t have the expertise to adequately review most high-risk or critical vendors."
VP Compliance
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“Very user friendly with tons of features that can be utilized to automate manual processes. Everything is in one place and easy to find/access. Makes tracking down information easy and consistent "
Administrator, VRM
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“Can't say enough good things about Venminder! It is an excellent vendor management solution right out of the box, but it is also flexible and configurable to fit almost any vm program"
Vendor Management, InfoSec Specialist
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"Switching to Venminder has been absolutely life-changing, and I can't say enough good things about this amazing platform!"
Sourcing, Procurement and Vendor Management Leader
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"Venminder's platform provides a great centralized tool to track, assess, and review vendors. It provides robust functionality around each of the phases of the overall vendor lifecycle"
Analyst, VRM
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"It has provided a platform to better manage our Vendor Relationships throughout the entire vendor lifecycle. Venminder has also provided top notch support every step of the way"
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