New Vendor Onboarding
Manage vendor due diligence for potential relationships before entering an agreement.
Before signing a contract with a third-party service provider, the company needs to be verified to ensure they meet your needs, come with the level of risk with which your organization is comfortable and have the appropriate controls to mitigate that risk. Failure to complete appropriate due diligence prior to contracting with a vendor could leave your organization open to vulnerabilities that could be damaging to your reputation.
Venminder’s Vendor Onboarding Module empowers you to create a workflow to effectively evaluate a vendor’s business and regulatory impact before you enter into an agreement. With features like configurable request forms, fourth-party vendor tracking, questionnaires, risk assessment, oversight requirements and more, whether you are looking for an advanced process or a novice approach, this module provides the necessary tools to properly gather information and perform required pre-contract due diligence.
Streamline the vendor onboarding process for all vendor types
Ensure that all variations of processes and requirements, such as if you treat vendors differently based on type, can be followed and all team members involved can more easily and efficiently tackle their onboarding responsibilities.
Compare vendors side by side to choose the right option
By being able to easily compare vendor choices, it makes vendor selection more accurate and painless.
Speed up the deployment process
By using the Vendor Onboarding module you are able to quickly onboard new vendors in order to begin using the product/services sooner. This ensures that you can quickly take advantage of potential return on investment (ROI) opportunities with the new vendor.
- Customizable forms
- Capture vendor information
- Perform initial risk and criticality assessment
- Collect contract documentation and review due diligence requirements
- Reference tracking
- Side by side vendor comparison
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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