Venminder Ratings

Overall
5/5
Ease of Use
4.5/5
Customer Service
5/5

About Venminder

Venminder is the national leader in third party risk management. Through the firms software and suite of outsourced services, Venminder has pioneered a new age by dramatically reducing the workload essential to meeting todays demanding regulatory requirements. Venminders software organizes all things vendor-related and guides users through critical processes such as contract management, risk assessments, due diligence requirements, questionnaires and more. Learn more about Venminder

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Showing 14 of 14 reviews

Showing Most Helpful

Showing 14 of 14 reviews

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Reviewer's Role
Length of Use
Frequency of Use
Katie R.
Vendor and Project Management Specialist
Banking, 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
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
March 1, 2019

“Easy to Use and GREAT Support ”

OverallOur experience with Venminder has been excellent!! Their support team is quick to respond and so helpful answering any of our questions. They are open to suggestions, and have even followed up with us when our suggestions have been implemented.
ProsThe software is very user friendly and easy to navigate. Being new to vendor management it not only was a easy system for me to learn to use, they also provide so many tools, resources and seminars to really help get you comfortable with the software and your own vendor management knowledge base.
ConsMostly, I just wish I had more time in the day to go in to explore and set up all the great features. My one change would be the ability of the reminder emails, if we could add additional custom fields to help determine what follow up is needed without having to go fully into the system.
Reviewer Source 
Source: Capterra
March 1, 2019
Sarah M.
Risk & Compliance Manager
Banking, 51-200 employees
Used the software for: 1-2 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
9/10
Reviewer Source 
Source: Capterra
December 21, 2018

“Venminder”

OverallVenminder has performed exceptionally in customer service and support. The account representative responds same day and support is available after business hours as needed. Issues identified are resolved in a timely manner and the product design team works to incorporate changes based on customer feedback and/or business needs. Follow-up is performed to ensure we stay on track.
ProsThe system is self-intuitive and customizable to an organization's business process. The vendor information, risk assessment, and contract modules are interfaced.
ConsWhile the risk assessment questionnaire is customizable, efficiencies could be attained with automation of information flowing from the oversight tasks to the actual risk assessment. It would add more value to have the comments from the oversight tasks flow into the risk assessment in order to provide information to product managers/collaborators and one that report to the regulator that has it all.
Reviewer Source 
Source: Capterra
December 21, 2018
Kevin G.
Senior risk Analyst
Banking, 5001-10,000 employees
Used the software for: 6-12 months
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
5/5
Value for Money
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
December 24, 2018

“Synovus Venminder Review”

OverallI have only been actively using the Venminder platform for approximately 6 months. I had to learn the platform from scratch and then customize it to meet our needs at Synovus.; The Venminder Team has been exceptional in providing training, making recommendations and answering the many, many questions I had along the way. The system is very intuitive and can easily be customized to meet the individual needs of the customer. The system provides an excellent repository for anything related to a vendor relationship and for Vendor Risk Analysis. Money and time very well spent for Synovus!
ProsWe have been able to take our Vendor risk program to the next level by utilizing Venminder as our source of record. Venminder allows us to concentrate all of the information around a vendor relationship in one place. We are also able to share select information with other contributors - i.e. Regulators, Business Unit Owners, etc.
ConsThe only negative I can offer up on the Venminder platform is that Synovus did not start utilizing the full services sooner than we did!
Reviewer Source 
Source: Capterra
December 24, 2018
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Alana D.
Vice President of Vendor Management
Financial Services, 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
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
December 20, 2018

“Flushing Bank Review”

Overall5. I have been in the financial industry for over 30 years and have found Venminder to be a great vendor from Product to Sales and Customer Service. They are willing to work with their customers and provide them with the needs of the business. Oversight Management and scheduling of renewal documents are great features of the application as this was a very manual process for Flushing Bank before using Venminder.
ProsIt met the criteria that we were conducting our analysis Vendor Portal, Cloud Services, Managed Services, Dashboards, Risk Rating Analysis, Scheduling Annual Due Diligence, and Reporting
ConsI really cannot identify one feature about Venminder that I dislike.
Reviewer Source 
Source: Capterra
December 20, 2018
Jeremy C.
ISO
Banking, 201-500 employees
Used the software for: 1-2 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
9/10
Reviewer Source 
Source: Capterra
December 21, 2018

“Venmider Excellent Tool to Support Vendor Management”

ProsMany things to like about the software and the service. They provide the best in the industry software to manage and organize your vendor program. Lots of most important items to track are built in from the start and easy customization is provided for additional fields and task tracking. Contract management is easy and they even enter the terms for you. Services including SOC and DR reviews save lots of time. You can't outsource vendor management but this is a great tool to help strengthen your program. Their customer service is incredibly responsive, especially via chat.
ConsNew interface has improved the experience but would like to see it setup with less clicks necessary.
Reviewer Source 
Source: Capterra
December 21, 2018
Rich C.
CIO
Banking, 51-200 employees
Used the software for: 6-12 months
Overall Rating
5/5
Ease of Use
4/5
Customer Service
5/5
Features
4/5
Value for Money
5/5
Likelihood to Recommend
9/10
Reviewer Source 
Source: Capterra
February 28, 2019

“A great overall solution with just one exception.”

OverallWe've had an overall positive experience with Venminder and highly recommend them for services mentioned above. We'd rate it a solid 10 if the Risk Assessment functions are improved but are sure that will come as the product matures. Other than that section, we're very impressed with the rest of the features and give it a "thumbs up".
ProsMy favorite features of this product include document collection, due-diligence services, Argos monitoring, task scheduling and third party questionnaires. These services separate Venminder from the competition, simplifying the review process and makes for a more robust review of critical vendors.
ConsThe risk assessment section is acceptable but lacks features observed in competitive products such as selection assessment to prioritize assessment tasks and framework based controls or intuitive questionnaires based on inherent risk to improve efficiency.
Reviewer Source 
Source: Capterra
February 28, 2019
Mary Ellen S.
VP Compliance & Operational Risk
Banking, 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
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
December 20, 2018

“Venminder - Vendor Management”

OverallWe are making appropriate decisions when choosing a vendor, as we know what documents we will need. We know that we can have Venminder assist with a financial and SOC Analysis prior to engaging with a vendor. The best experience I can describe with Venminder is when the regulators (NCUA or DBO) ask: "Do you have a Vendor Management program?" We say "Yes" with a smile!
ProsVenminder makes strong vendor documents all in one place a breeze. Contracts for every vendor, in one portal. Vendor contact information, all in one portal. Reports, can be customized. The analysis features for both financial and SOC reports are vital for making appropriate decisions about vendors. Exams are a breeze when it comes to Vendor Management.
ConsI really don't have dislikes, but if I had to ask for something that I would like to be able to do: allow removal or expiration of "tasks" that are outdated rather than adding another date.
Reviewer Source 
Source: Capterra
December 20, 2018
Andrew G.
Risk Mitigation Specialist
Banking, 201-500 employees
Used the software for: 1-2 years
Overall Rating
5/5
Ease of Use
4/5
Customer Service
5/5
Features
4/5
Value for Money
5/5
Likelihood to Recommend
9/10
Reviewer Source 
Source: Capterra
June 10, 2019

“Venminder Vendor Management Software Review ”

ProsContracts: The contract management function of the software is the most beneficial to our institution. All we do is upload our contracts and Venminder will analyze the agreement and create a timeline based on the contract terms that will alert the user of important contract dates. Support Team: Although the rest of the software is great, what makes Venminder stand out from the rest is their helpful and knowledgeable support team. They are always available to talk about an issue or question and you can reach them through email, chat, or phone.
ConsReports: The reports are not as customizable as we had hoped. However, the Venminder team truly takes what we say into consideration in relation to changes or additions that need to be made. They have been able to meet all of our needs as of yet.
Reviewer Source 
Source: Capterra
June 10, 2019
Tammie H.
Executive Assistant
Banking, 11-50 employees
Used the software for: 1-2 years
Overall Rating
5/5
Ease of Use
5/5
Customer Service
4/5
Features
5/5
Value for Money
5/5
Likelihood to Recommend
9/10
Reviewer Source 
Source: Capterra
December 4, 2018

“Vendor Managment at its Best!”

OverallWe've been using Venminder for about a year and a half. Venminder is a time saver and greatly valued!
ProsWe are thrilled with Venminder! It's very user friendly and offers many training webinars. Pulling reports an managing contracts makes life so much easier with Venminder! Their risk assessment templates can be modified to meet our specific needs.
ConsAt first the platform seemed a bit confusing, but the revamped it, the layout is more user friendly!
Reviewer Source 
Source: Capterra
December 4, 2018
Ellie L.
Compliance Officer
Banking, 51-200 employees
Used the software for: 2+ years
Overall Rating
4/5
Ease of Use
4/5
Customer Service
5/5
Features
3/5
Value for Money
4/5
Likelihood to Recommend
8/10
Reviewer Source 
Source: Capterra
December 27, 2018

“Venminder review Dec 2018”

OverallVenminder is a great solution that also provides users with exceptional learning opportunities, live chat features as well as awesome software.
Prosease of use with documentation at your fingertips
Consneed to exercise extreme care when placing online orders ; if you inadvertently place a duplicate the system is not able to detect this...
Reviewer Source 
Source: Capterra
December 27, 2018
Eric B.
VP
Banking, 201-500 employees
Used the software for: Less than 6 months
Overall Rating
4/5
Ease of Use
4/5
Customer Service
5/5
Features
4/5
Value for Money
3/5
Likelihood to Recommend
7/10
Reviewer Source 
Source: Capterra
January 2, 2019

“Security Federal Bank”

OverallPrimarily, I work with representatives who are very helpful and are a pleasure to work with. An opportunity to improve is to offer a lower cost 'monitoring' service for critical vendors.
ProsEase of use. The dashboard is very helpful.
ConsThe software works well. I don't have any cons.
Reviewer Source 
Source: Capterra
January 2, 2019
rob b.
senior financial analyst
Banking, 201-500 employees
Used the software for: 6-12 months
Overall Rating
4/5
Ease of Use
4/5
Customer Service
5/5
Features
4/5
Likelihood to Recommend
7/10
Reviewer Source 
Source: Capterra
February 28, 2019

“4/5”

OverallVenminder customer service has always been very good with prompt response times.
ProsHas lots of options and abilities to customize for your institutions needs which sometimes is overwhelming but also useful once you get used to the system.
ConsThe software has many places to go for the same function so it feels repetitive at times. Also completing tasks is very awkward since you have to manually set the next review date. There may be a way to automate it to roll forward one year but I have not found it.
Reviewer Source 
Source: Capterra
February 28, 2019
Dawn T.
Compliance Officer
Financial Services, 51-200 employees
Used the software for: Less than 6 months
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
5/5
Value for Money
5/5
Likelihood to Recommend
9/10
Reviewer Source 
Source: Capterra
February 1, 2019

“Customer Service”

OverallBeing new to Venminder I can't really answer the Pros & Cons yet. But I can tell you that the customer service so far has been outstanding!! My sales rep, , was awesome! Client Support Supervisor, has been very helpful & keeps in touch to see how the process is going! Any questions or issues I have had so far have been responded to right away & resolved quickly.
ProsOutstanding Customer Service. The software is easy to use.
ConsI'm new to the system, so there may be a feature. But the only thing I can think of so far, would be a list of required documents for each vendor.
Reviewer Source 
Source: Capterra
February 1, 2019
Verified Reviewer
Banking, 51-200 employees
Used the software for: 1-2 years
Overall Rating
5/5
Ease of Use
5/5
Customer Service
5/5
Features
5/5
Value for Money
5/5
Likelihood to Recommend
10/10
Reviewer Source 
Source: Capterra
July 18, 2019

“Venminder - vendor management made simple”

ProsThe simplicity is incredible. Venminder pretty much does all of the heavy lifting for you.
Consimplementation time can take a while due to uploading contracts and any documents you need, but that would be true for most solutions.
Reviewer Source 
Source: Capterra
July 18, 2019