Streamline the due diligence process through preconfiguring oversight requirements and frequency
Vendor due diligence should be risk-based and tailored to match the product or service. With managing potentially hundreds of vendors, the process of identifying what due diligence needs to be performed on each can be very time-consuming and cumbersome in itself.
Venminder’s Oversight Automation Module enables administrative definition and systematic automation of 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.
- Set oversight at the administrator level
- Create unlimited custom oversight requirements
- Automate oversight by category or risk
- Streamline and improve administrative oversight management
- Auto-assign task owners when new tasks are scheduled
It's already easy to use. But we're still here for you.
Venminder is praised for very simple and straightforward implementation. We’ll match your speed, create a project plan to meet needs and goals and configure your account including data imports.
Venminder’s renowned customer support is responsive and ready to listen. Reach out by email, phone or chat. We work closely and create a collaborative partnership to find solutions.
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