Due Diligence and Ongoing Monitoring

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  • 1.  TPRM Tool(s)

    Posted 02-14-2024 11:04 AM

    Hi everyone, 

    I recently took over management of TPRM at my company and we are utilizing SharePoint and Excel to manage vendor due diligence and ongoing monitoring: scorecards, criticality scoring, etc. I have been given the green light to poke around for acquiring a TPRM tool for use in the future and wondered if anyone could share the tool they use/recommend that would be a step up from Microsoft tools. I am not looking for a sales pitch but hopefully some of you were where we are now and can offer me some options. Thank you! 



  • 2.  RE: TPRM Tool(s)

    Posted 02-14-2024 12:03 PM

    Hi Jeremy,

    I'm happy to chat with you on this subject. Email me at [email has been removed by the Community Manager for privacy reasons. Please message the member directly by clicking on their name and choosing the Send Message option].

    Cheryl


    Original Message


  • 3.  RE: TPRM Tool(s)

    Posted 02-14-2024 01:07 PM

    We use Venminder Enterprise system, and it's been awesome. I at first wanted to look at hiring others to help with our vendor management controls and such but we decided to first consider a SW that could help us and Venminder was our choice and has been like having an extra team of employees. We also have a had a great rep who truly cares and takes great care of us.  On a 1-10 I'd put them at a 9.

     

    Good Luck!

     

    Greg Schilder

    Vendor Manager

    ONE AMERICAN BANK

     

     

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    Original Message


  • 4.  RE: TPRM Tool(s)

    Posted 02-14-2024 01:46 PM

    Venminder Account Management and their product are excellent to work with. 



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    Steven I. Adler, CDPSE
    Director, Third Party Risk Management
    Enterprise Risk Management
    Humana Inc.
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    Original Message


  • 5.  RE: TPRM Tool(s)

    This message was posted by a user wishing to remain anonymous
    Posted 02-15-2024 01:18 PM
    This message was posted by a user wishing to remain anonymous

    Hello Jeremy,

    I did send you a message but the business type and size would be very helpful. If you are in finance or health care those are heavily regulated and that should be considered. I would look at the tool from a workflow perspective as well not just as system capabilities as that is a pain point for me right now with the system I inherited at a new company. It seems to check all the functionality boxes but it does not flow and I have to still maintain an excel and word doc questionnaires.  


    Original Message