Set the type and frequency of vendor oversight.
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).
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.
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.
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.
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.
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.
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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 "
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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"
"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"