Best For

VendorInsight is very configurable & is used by companies in all types of industries. Our primary customer base includes financial institutions from $100 Million in assets to $60 + Billion in assets.

Product Details

VendorInsight is a web-based vendor risk management solution that simplifies your vendor and contract management process through automated workflows, easy-to-use features & vendor news/risk monitoring. Designed for financial institutions, healthcare companies, law firms, & other companies; VendorInsight provides a turn-key solution with 100% regulatory compliance guaranteed! Pre-built policies, vendor portals, templates & forms, simplifies due diligence, contract monitoring, & risk management.

Contact Details

Cost Management Performance Group

http://www.vendorinsight.com/

Founded in 1998

Located in United States

Starting Price

  • Not provided by vendor

Free Demo

Platform

  • Installed - Mac
  • Cloud, SaaS, Web
  • Installed - Windows
  • Mobile - iOS Native
  • Mobile - Android Native

Training

  • In Person
  • Live Online
  • Webinars
  • Documentation

Support

  • Business Hours
  • Online

VendorINSIGHT Features

Audit Trail
Performance Metrics
Self Service Portal
Sourcing Management
Transaction History
Vendor Master Data Management

VendorINSIGHT Reviews

Showing 5 of 41 reviews
Overall
4.6/5
Ease of Use
4.3/5
Customer Service
4.9/5
Garth S.
Director of Procurement
Marketing and Advertising, 1001-5000 employees
Used the software for: 2+ years
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
5/5
Value for Money
4/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
March 8, 2019

“ A great contract/risk managemetn tool”

OverallLast year we reduced our cost by over $1M becasue we are not on the leading edge of contract negotiations. We have found same licenses being used by multiple departments and have been able to consolidate them. We have found licenses we have been paying for and not using. We were able to cancel subscriptions without the auto renew occurring.
ProsWithin just a few short hours I was up and ready to run with the software. Mainly I use this software for contract and Risk Management. Within 2 days I was able to start loading contracts in to the system. There was some customization we made to the risk assessment piece and internal stake holders took some time to figure out how we were going to structure the risk questions. I love the automation and time this saves in renewing contracts.
ConsI found the initial "training" weak. I receive help though as I need it whenever there is a module I am interested in.

Vendor Response

By Cost Management Performance Group on March 19, 2019
Hi Garth! Thank you for taking time out of your day to give us a review. We are excited to hear that our software was able to save your company over $1M in unnecessary costs and services that are no longer needed. We are also glad to hear that you were able to have a fast and seamless implementation. We take your comments on training very seriously and understand it¿s a lot easier to train once you¿ve played around in the system. We are always here to help and make sure you have knowledge and are utilizing every feature available. Please don¿t hesitate to reach out to your program administrator with any additional questions, comments or concerns.
Reviewer Source 
Source: Capterra
March 8, 2019
Sean K.
Director, Vendor Management
Banking, 501-1000 employees
Used the software for: 2+ years
Overall Rating
5/5
Ease of Use
4/5
Customer Service
5/5
Features
4/5
Value for Money
4/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
September 23, 2019

“VendorINSIGHT Review”

OverallVendorINSIGHT has helped organize and maintain our Vendor Management program with battle tested processes and customizations to help our program be successful. I would recommend them to anyone.
ProsThe VendorINSIGHT software provides a transparent process for risk rating vendors. The process demonstrates a logical workflow from start to finish. The system is easy to setup and robust enough to handle all the demands related to Vendor Management.
ConsWhile it's easy to setup, you can't implement the solution without help from the support team. It is advisable to map out your process prior to creating (e.g. naming conventions, policy assignment, risk criteria, etc.) so that you don't have to make corrections as you move forward. The support team is instrumental in helping do this. Use them.

Vendor Response

By Cost Management Performance Group on October 1, 2019
Hello Sean, thank you for your response! We are happy to hear your setup went well and we were able to handle all your demands related to vendor management. We understand a successful vendor management program needs time and resources to be implemented properly. Our support team is instrumental in achieving your vendor management goals and we're glad you agree! Our support and expertise differentiates us from other solutions. We want to make it a priority that you continue to evolve and customize your program to meet your specific needs. Please don't hesitate to reach out to your program admin with anymore additional comments, questions or concerns.
Reviewer Source 
Source: Capterra
September 23, 2019
Valerie H.
Manager, Vendor Risk
Banking, 1001-5000 employees
Used the software for: 2+ years
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
4/5
Value for Money
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
March 22, 2019

“A system that is Just right”

OverallAs this system is constantly improving, it is allowing my program to improve as well. I think Vendor Insight teams well with their customers and together we have built a reliable system that provides and supports every need. They are responsive and their technical and customer service are the best
Prosas an internal user once told me, " this is a rather elegant system"! It is easy to use and every bit of it is usable. You will not buy an overblown system and use only 30%, you can implement it all. More and more of my internal customers have come to rely on the reporting as a single source of truth.
ConsI have used this system for 6 years and watched it evolve so I have no Cons to using this system.

Vendor Response

By Cost Management Performance Group on June 20, 2019
Hi Valerie! Thank you for taking the time out of your day to leave us a positive review. We really appreciate your feedback and enjoy working with people like you who can help us continuously evolve our system to be as relevant as possible. VendorInsight? does come with a lot of features and coupled with our support team we want our customers to understand, exactly how you stated, that you can implement it all! We want to ease the burden of manually tracking vendors and want customers to use our software and reporting features as a centralized source of truth. We look forward to working with you in the future and rely on comments like yours to make VendorInsight? as efficient as possible. Please don't hesitate to reach out to your program administrator with any additional comments, questions or concerns.
Reviewer Source 
Source: Capterra
March 22, 2019
Garth S.
Director of PRocurement
Marketing and Advertising, 201-500 employees
Used the software for: 2+ years
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
5/5
Value for Money
3/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
October 1, 2019

“ A great contract/risk management tool”

OverallThe 1st year of implementing in 2016 I calculated $38,212 in savings. In 2017 $872,899 in savings. In 2018 $1.2M in savings and this year in 2019 forecast is 1.4M in savings. Savings is derived from opportunities to cancel agreements before they auto renew and calcualted savings from being able to negotiate these agreements before they renew/expire.
ProsBecause this software is configured so well, I was up and running within a few weeks of purchase
ConsI find it to be a little more money than similar systems

Vendor Response

By Cost Management Performance Group on October 9, 2019
Hello, Garth. We appreciate you taking time out of your day to leave us a review. We are happy to hear that you're satisfied with the implementation process, and even more pleased to see VendorInsight? has saved your organization $1.2M just last year! Many people are unaware that they're paying for services that they don't utilize because of contracts that renew automatically. As you already mentioned, this feature alone can save you as at least thousands of dollars in costs, but also time and resources to identify those contracts as they're renewing and expiring. We hope you continue to see the value in VendorInsight? and reach out with any more additional questions, comments or concerns.
Reviewer Source 
Source: Capterra
October 1, 2019
Beth D.
SVP Dir. of Enterprise Risk Mgmt
Banking, 501-1000 employees
Used the software for: 2+ years
Overall Rating
3/5
Ease of Use
3/5
Customer Service
4/5
Features
3/5
Value for Money
5/5
Likelihood to Recommend
7/10
Reviewer Source 
Source: Capterra
March 8, 2019

“VI Review”

OverallExperience has been good and has cut down on the number of hours spent on monitoring vendors.
ProsThe ability to have a centralized depository for vendor contracts and supporting documentation. The ability to customized risk assessments.
ConsLack of a daily audit log for changes or file maintenance made to documents or due dates that have been changed.

Vendor Response

By Cost Management Performance Group on June 20, 2019
Hi Beth! We thank you for taking time out of your day to give us a review. We appreciate your feedback and are happy to hear VendorInsight? was able to cut down on the number of hours spent on monitoring vendors. We are in the business of easing your regulatory needs and creating a software that allows you to quickly add and update vendor contracts and supporting documentation. If you're interested in having a daily audit log, we'd point you towards the contract history, which has notes on when a contract was created and updated by a user along with other useful information. We can have your program admin contact you to show you where the changes are cataloged as well as any custom reports that would help you identify those changes in a specific parameter. We are glad to hear your experience has been good and we hope you continue to reach out with any more questions, comments or concerns.
Reviewer Source 
Source: Capterra
March 8, 2019