Determine the level of risk your vendor poses to your organization.
Assess and risk rate all your vendors so you can make informed decisions
Assessing risk on your third parties is one of (if not THE) most important exercises in a third-party risk management program. Defining both the inherent and residual risk of third parties guides the vast majority of due diligence and oversight activities.
Create consistency and ease through the course of the entire risk assessment
The platform will drive you through steps from selecting and modifying questionnaires to monitoring progress of an assessment and reviewing results to calculate and judge residual risk.
Align the platform to your organization’s risk assessment process
Gain more control in a variety of details, such as risk levels, timing, risk thresholds, risk assessment integration into the Vendor Onboarding module, ability to record inherent and residual risk separately, utilizing mitigating questions to determine residual risk and provide guidance on mitigating control factors and more.
Improve risk assessment quality and visibility
Rather than just looking at answers in a questionnaire, close gaps by allowing weight on user’s responses to show particular importance, easily see if further mitigation needs to be completed on an item and use reports to monitor it all.
Adaptable to scale with your organization
Maturity, methodology and approaches largely vary. Refine and customize inherent and residual risk assessments, scoring and more to meet your organization's standards.
Easily collaborate internally
Invite your internal subject matter experts (for example, CFO) to weigh in on a particular section of risk. Invite as many people as you need to contribute to any risk assessment. Elect prevailing contributors as well.
Create templates to drive consistency
Have a consistent approach regardless who is doing the risk assessment. The flexibility of templates provides some guidance on what should be completed and the ability to customize to fit or directly mirror any existing assessments.
You can define the risk levels and scoring
Whether you use the terms "low", "moderate" or "high" for risk levels or call them something different, you can define those and customize the scoring in our risk assessments feature.
Drive results with robust features
Create clear, concise risk rating reports
Ability to control mitigation allowances
Use within the Onboarding Workspace
It’s not just about our platform.
It’s about our people.
Specialize in third-party risk management and are passionate about it's importance
Hold a wide range of certifications and qualifications including CISSP, CTPRP, Paralegal, CPA, CRISC, GCIH, ABCP, CCNA and more
Stay current on industry trends and latest news
On hand to provide advice to our customers and community
Drive our educational content and advocate for best practice third-party risk management
Your success is our success so we work closely with you to create a collaborative partnership. We strive to always be on hand to help guide you.
We’ll match your speed for implementation and work with you on your needs, goals and configuring your account.
Access a vast library of free educational resources including live and on-demand webinars, infographics, eBooks and more.
"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."
“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 "
“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"
"Switching to Venminder has been absolutely life-changing, and I can't say enough good things about this amazing platform!"
"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"