VendorInsight

RATING:

4.5

(52)

About VendorInsight

EnterpriseInsight is a SaaS platform that helps users manage business risk. With configurable pre-built risk frameworks, it overcomes the complexities of implementing and updating other ERM-GRC platforms. The interface is equipped with dashboards, reporting features and role-based views. It helps businesses focus on vital tasks and monitor potential risk. The enterprise risk assessment feature enables users to identify and score risks, and evaluate controls across the organization. Additionally, it allows users to manage all types of audits, internal, external, compliance, IT, etc., and organize them within each area of the business. After an audit is completed, results can be synced with the Issues & Remediations Tracking module to plan and oversee the next steps....

Awards and Recognition

FrontRunner 2021
Software Advice's FrontRunners report ranks top products based on user reviews, which helps businesses find the right software.
VendorInsight administrator dashboard screenshot

VendorInsight Reviews

Overall Rating

4.5

Ratings Breakdown

Secondary Ratings

Ease-of-use

4.5

Customer Support

5

Value for money

4.5

Functionality

4

Most Helpful Reviews for VendorInsight

1 - 5 of 52 Reviews

User Profile

Garth

Verified reviewer

Marketing and Advertising, 1,001-5,000 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

4

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed March 2019

A great contract/risk managemetn tool

Last 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.

PROS

Within 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.

CONS

I found the initial "training" weak. I receive help though as I need it whenever there is a module I am interested in.

Vendor Response

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.

Replied March 2019

GARY

Banking, 51-200 employees

Used weekly for more than 2 years

Review Source: Capterra

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed March 2020

Easy to use and lots of bells and whistles!

The customer support is great. We aren't in there as much as we should daily/weekly but can always get a hold of someone at anytime and they will re-train us no problem.

PROS

Met the needs of the organization for both functionality and compliance. We liked that it could grow with use such as using Pro if and when the time came.

CONS

We knew that setup was going to be a long haul. But like anything else once you do it you are glad you did.

Reason for choosing VendorInsight

It could grow with our company and do things other companies couldn't. Also I felt they weren't all about the sales but wanted to make sure that we were getting what we needed out of the product.

Vendor Response

Hi Gary! We truly value customers like you that give us positive feedback and appreciate you taking time out of your day to write us a review. We are pleased to hear that VendorInsight? meets your needs with functionality and compliance. Most importantly, we're grateful for customers like you who prioritize the setup process for better use of the system in the long run. We take pride in our service team and hope you continue to reach out whenever you have questions or need additional training. Please stay safe during this time and don't hesitate to reach out with any further questions, comments or concerns. Thank you!

Replied March 2020

Beth

Banking, 501-1,000 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

3

EASE OF USE

3

VALUE FOR MONEY

5

CUSTOMER SUPPORT

4

FUNCTIONALITY

3

Reviewed March 2019

VI Review

Experience has been good and has cut down on the number of hours spent on monitoring vendors.

PROS

The ability to have a centralized depository for vendor contracts and supporting documentation. The ability to customized risk assessments.

CONS

Lack of a daily audit log for changes or file maintenance made to documents or due dates that have been changed.

Vendor Response

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.

Replied June 2019

Jay

Financial Services, 51-200 employees

Used daily for more than 2 years

Review Source: Capterra

OVERALL RATING:

4

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

3

Reviewed December 2023

A good review from a long-term client

Out of the shrink-wrap the application is very good

PROS

Client Support and Vendor Evaluation Services.

CONS

Lack of constant improvement for simple things, selecting from lists using an alpha letter as an example. Inability to access data maintained in the system. Ability to define high order filtering, with multiple selections

Reason for choosing VendorInsight

No idea as I was not an employee of the company

Nancy

Financial Services, 1,001-5,000 employees

Used weekly for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed August 2023

Third Party Risk Management

Third Party Risk Management is critical in the Financial Services industry, as regulations continue to be created, expanded and enforced. Vendor Insight is a great tool to allow us to comply with regulations, reduce our risk to an acceptable level within our strategic plan as an organization, and effectively and efficiently report on our efforts.

PROS

Vendor Insight provides a streamlined approach for creating a risk profile for each vendor, identifying what vendor documentation should be collected and reviewed based on that risk profile, and ensuring those reviews are conducted thoroughly and on an annual cadence. Vendor Insight allows us to introduce consistency and quality into our Third Party Risk Managment process, and report on it efficiently.

CONS

Possibly some customization of reporting tools to meet the needs of the organization would be helpful. Those tools do exist, but we could explore them more to create the best benefit for us. Integration with AP tools to ensure we are properly including all vendor based on risk profile could be helpful as well. Also being able to generate alerts on contract expirations for those vendors in the meta data section (vendors whose risk profile does not require ongoing monitoring) could be useful as well.