Virtual Vendor Management Office
Customized outsourced services packages to assist with your third-party risk management efforts.
Our VVMO service is purposefully designed to enable our clients to define the tasks with which they desire assistance. While our extensive team is always at your disposal to answer questions, train users, inform of regulatory changes or simply lend a helping hand, the VVMO service dedicates staff resources on an ongoing basis to become an augmented part of your team.
The Virtual Vendor Management Office (VVMO) service allows you to:
- Define the tasks that you desire assistance with
- Dedicated Venminder staff on an ongoing basis to become an augmented part of your team
- Save time and allow your team to focus on other important high priority tasks
What it Includes
Popular VVMO Packages Include:
A premiere package where Venminder’s world-class staff take over all your Vendor Management functions, including administrative, contract management, risk analysis and more. We will also collaborate with you to ensure your program is best-in-class.
Vendor Management Admin
A Venminder VVMO staff resource is assigned who monitors all tasks for all your users with personal reminders that a task is awaiting execution and will escalate when the situation calls for it.
A Venminder VVMO staff resource can track expiration/renewal notices generated by the Venminder software and ensure your business line owners are taking action, monitor all vendors/products in the system to ensure contracts are uploaded and accounted for.
Whether it’s the first assessment done on a new product line or an annual risk assessment on an existing vendor, accurate risk assessments can be challenging to business line owners not familiar with the purpose of the exercise. A Venminder VVMO staff resource can track your risk assessment due dates and guide your assessor through the risk assessment question by question.