VendorINSIGHT

4.5 / 5 12 reviews

Who Uses This Software?

We service institutions from $100 Million in assets to $40 + Billion in assets. VendorInsight is very configurable and designed to fit almost any company, institution, or situation.


Average Ratings

12 Reviews
  • 4.5 / 5
    Overall
  • 4.5 / 5
    Ease of Use
  • 5 / 5
    Customer Service

Product Details

  • Free Demo
  • Deployment
    Cloud, SaaS, Web
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours

Vendor Details

  • Cost Management Performance Group
  • www.vendorinsight.com/
  • Founded 1998
  • United States

About VendorINSIGHT

Designed for financial institutions, banks, and credit unions, VendorInsight is a web-based vendor risk management solution that simplifies your process with automated third party risk management, easy-to-use features and turnkey vendor monitoring. VendorInsight provides a comprehensive array of tools and workflow automation that enable best-in-class vendor management with due diligence, contract monitoring, and much more.


VendorINSIGHT Features

  • Audit Management
  • Contact Management
  • Customer Database
  • Self Service Portal
  • Supplier Master Data
  • Transaction History
  • Vendor Maintained Profiles
  • Vendor Managed Inventory
  • Vendor Performance Rating
  • Vendor Qualification Tracking

VendorINSIGHT Reviews

Great Vendor Management Software

Oct 14, 2016
4/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Comments: Our bank has been using this software for approximately a year now and we are very pleased. The quality and ease of use of this software is awesome. We have had great customer service and they have help guide us along the way with getting our vendor management program up and running.

Vendor Response

by Cost Management Performance Group on October 17, 2016

Thanks for the review Tawna! We are happy to hear you have had such a good experience with our software and services so far, and we look forward to the ways we can help out moving forward!

A function-rich solution for a complex challenge

Oct 14, 2016
5/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Completeness of functionality

Cons: Since the problem it solves is complex, the solution platform can be a bit complex too for a casual user. However, once an organization focuses on customization of the platform to their specific needs, it becomes a highly valuable tool.

Overall: I have implemented Vendor Insight in two separate companies. In the second organization ( my current) we have had the opportunity to truly focus on our vendor management program and have been able to delve into the functions afforded to us by the platform. VI is extremely function-rich and though I wouldn't necessarily recommend doing a totally decentralized Vendor management program where large numbers of vendor relationship managers are using the platform, it does provide a strategic and well-designed platform for oversight and management of a partially centralized approach to vendor management. We were so impressed with our initial experience and subsequent work (with on-going upgrades) that we also licensed the BCPI module as well. This is a strategic platform for our bank, both for vendor management and, more importantly, for risk management.

Recommendations to other buyers: Spend time with the initial questionnaires that the platform provides you, being sure to understand what actions requirements result from certain answers to the questions. It behooves you to customize the questionnaire to insure that relationship managers understand the questions and that the answers result in appropriate control requirements. In other words, customize so that every vendor doesn't result in a High Risk assessment.

Vendor Response

by Cost Management Performance Group on October 17, 2016

Walter, we loved reading such thorough feedback! all of our improvements and updates are built upon the input of our customers, so thank you! We're excited to continue serving Peoples Bank of NC in your vendor management and business continuity goals.

VendorINSIGHT Does the Job!

Oct 14, 2016
5/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: The alerting feature

Cons: -

Overall: This has been a transition time for our company. In 2015 we started implementing VendorINSIGHT and in early 2016 we trained our managers how to use it. I also transitioned into the Vendor Management position in March after the prior person who was managing vendor retired. My initial experience is that we were trying to make our prior program fit with VendorINSIGHT and it didn't work as well as we thought it would. Since then I have had to revisit the 'method' of how we risk rate and manage the vendors to fit the needs of our company. We are making good progress and I anticipate that we will have everything running smoothly in the beginning of 2017. We love the alerting capabilities and the flexibility of how to set up the alerting. The staff is great at CMPG.

Vendor Response

by Cost Management Performance Group on October 17, 2016

We appreciate the feedback Greig! Thanks for hanging in there with us as we through a transition time at Canadaigua. We look forward to working with you more in the upcoming months!

VendorInsight

Oct 03, 2016
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Comments: The team at CMPG is very responsive and always courteous. They do go above and beyond with requests and incorporate recommendtions into their subsequent updates. The product has no glitches. It could be a bit more user frindly as it currently looks a bit bare bones.

Vendor Response

by Cost Management Performance Group on October 04, 2016

We appreciate your feedback Riquet! And thank you for your recommendations--we are constantly trying to improve upon our customers' input!

Kirsten Monson and Jay Fitzhugh have been amazing assisting in our implementation of VI

Sep 30, 2016
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Comments: Kirsten and Jay have been so completely wonderful to work with during our VendorINSIGHT Implementation. They have given excellent customer service in every way possible during this project. Thank you for all of your expertise and helpful support. What a great experience.

Vendor Response

by Cost Management Performance Group on October 03, 2016

Alesia, it's great reading such good feedback from you! We're glad you've enjoyed working with Kirsten and Jay--we agree, they're some of the best! We look forward to continuing our work with you at Alaska USA Federal Credit Union!

Great people supporting a very robust platform.

Sep 30, 2016
4/5
Overall
3 / 5
Ease of Use
3 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: How it organizes and stores documents. The single most helpful feature is how it allows you to answer a few questions about each vendor and gives you the list of documents needed for each vendor.

Cons: They are always doing upgrades but two of the upgrades that I would still like to see would be bulk file uploading and allowing the vendor to upload their own documents.

Overall: After looking at a number of different products we decided to go with Vendor Insight. The vendor management software solution has been tremendously helpful in organizing our vendor documents and identifying risks. The people backing this software are a great resource as well. Highly recommended.

Vendor Response

by Cost Management Performance Group on November 09, 2016

Dustin, we are elated to hear such great feedback from you! We are excited for the opportunity to serve Westlake Financial Services and build upon your input for new features. You may not be aware but we do have the ability for bulk uploading through your Program Administrator. We also have a Vendor Portal to allow vendors to upload their own documents. Please ask your Program Admin for more information.

Great Navigability!

Sep 30, 2016
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: The accessibility of customer service, and their willingness to train and always answer questions.

Cons: It takes a minute to get used to, but, it's not difficult.

Overall: The customer service is excellent - they are always willing to help.

The website is very self explanatory and well thought out. It looks different from the typical software, so, it takes a minute to get used to.

Recommendations to other buyers: It seems to serve it's purpose.

Vendor Response

by Cost Management Performance Group on September 30, 2016

Elduise, thank you for the feedback! We are happy to hear you have found our customer service to be continuously excellent and that our software has been serving you well at Industrial Bank.

Vendor Contract Management made easy

Sep 30, 2016
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
3 / 5
Value for Money

Comments: Customer service off the charts and the system follows the rules and requirements for Vendor Contract Management ensuring that your company stays in compliance.

Vendor Response

by Cost Management Performance Group on September 30, 2016

Keenan, thank you for the feedback! We're proud to offer our customers excellent service and expert solutions.

Vendor Insight Review

Sep 30, 2016
4/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Customizable options for each data set you need. Reporting and Query

Cons: Difficult and tedious to set up the Performance Metrics section

Overall: Fairly new user to the software, about 60 days in so far. It is easy to use and navigate and very easy to upload documents. With being a newer user, I have had a lot of questions and the support group has been great as well as arranging for a day training session to learn the best benefits of VI. The feature are customizable which is a key for my since a deal with a lot of different types of Third Party VM

Recommendations to other buyers: Not at this time, still fairly new user so might have some advice in the near future.

Vendor Response

by Cost Management Performance Group on September 30, 2016

Craig, thank you for the review! We're happy to have you on board and look forward to serving United Bank.

Revamped Our Program

Sep 30, 2016
5/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Various features, not just a contract repository

Cons: It's a little clunky moving between screens

Overall: VendorInsight has helped us take our vendor management program from almost nothing to compliant to robust over the last few years. The customer support is great and very quick in responding. Also, VI is constantly improving, offering new features with input from the user base and regulatory changes.

Recommendations to other buyers: No

Vendor Response

by Cost Management Performance Group on September 30, 2016

Ryan, we're thrilled to hear such good feedback from you! We look forward to growing with Univest and continuing to build upon your input.

Great Vendor Management Solution

Oct 30, 2015
5/5
Overall
5 / 5
Ease of Use
5 / 5
Customer Support

Comments: VI provides a very easy to use interface for our vendor management needs. The staff is very helpful and knowledgeable. They also assist in providing sample policies and procedures.

Due to the robust nature of the system it needs to be continually monitored for vendor updates. Emails are automatically generated which assist in that process as well.

Vendor news alerts are also very helpful and timely.

Exceptional Customer Service

Sep 29, 2015
5/5
Overall
5 / 5
Ease of Use
5 / 5
Customer Support

Comments: Vendor Insight has been a blessing. Not only does the Vendor Insight software allow my bank to store and management my vendor contracts but it allows us to conduct risk assessments and fulfill the many demands from our regulators. in addition to this, the service provided by the account managers at Vendor Insight is the best from any other vendor we have worked with. Our account representative (Amanda) is skilled, always available and the best attribute to our relationship with Vendor Insight. I would recommend Vendor Insight to anyone looking to streamline their contract risk management and those who need to meet their regulators demands.