About VendorInsight

VendorInsight is a web-based vendor management solution, which assists banks, credit unions and financial firms with contract management and risk assessment. Its key features include service level agreement (SLA) tracking, a document library, social media monitoring and alerts.

The application helps users manage and archive multiple vendor records and automate performance reviews based on news, regulatory and market data. With its market watch feature, team members can evaluate vendors and manage risk monitoring for clients. Additionally, employees can use the solution to build contract checklists, custom queries and generate reports. 

VendorInsight includes a profiler feature, which enables supervisors to design relationship templates, classify ...


Read More

Supported Operating System(s):

Web browser (OS agnostic)

50 Reviews of VendorInsight

Average User Ratings

Overall

4.50 / 5 stars

Ease-of-use

4.5

Value for money

4.5

Customer support

5.0

Functionality

4.5

Ratings Snapshot

5 stars

(30)

30

4 stars

(15)

15

3 stars

(5)

5

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 50 results

March 2019

Garth from Rakuten

Verified Reviewer

Company Size: 1,001-5,000 employees

Industry: Marketing and Advertising

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

4.0

Customer support

5.0

Functionality

5.0

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.

Response from Cost Management Performance Group

Replied March 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.

March 2020

GARY from CAPITOL BANK

Verified Reviewer

Company Size: 51-200 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

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.

Reasons 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.

Response from Cost Management Performance Group

Replied March 2020

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!

March 2019

Beth from United Bank

Verified Reviewer

Company Size: 501-1,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

3.0

Value for money

5.0

Customer support

4.0

Functionality

3.0

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.

Response from Cost Management Performance Group

Replied June 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.

March 2020

Lance from CIBC Bank USA

Verified Reviewer

Company Size: 1,001-5,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

3.0

March 2020

Vendor Insight Review

The customer service is exceptional. I enjoy everyone I work with. The tool meets our needs and helps use do our job the only issue is I think the underlying technology and the tool itself may need an update to modernize it.

Pros

I think what I like most is the ease of use. Because of a position change I have become a VI admin and greatly increased my use. I have had no issues quickly understanding and picking up how to use the tool.

Cons

Limited flexibility. Due to some organizational changes with in the company we need to track affiliate services and need some flexibility in the tool to accommodate these changes and we are having to use a lot of workarounds.

Reasons for Choosing VendorInsight

Not sure why my company choose this tool. It was in place prior to me.

Response from Cost Management Performance Group

Replied March 2020

Hi, Lance! We truly value customers like you that give us a detailed and honest review of our system. We are happy to hear you find the system intuitive and easy to pick up on because of a position change. We do recognize and understand with your unique deployment there have been unusual challenges. Please don't hesitate to continue to reach out with any additional, questions, comments or concerns. Thank you!

September 2019

Sean from Fremont Bank

Verified Reviewer

Company Size: 501-1,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

5.0

Functionality

4.0

September 2019

VendorINSIGHT Review

VendorINSIGHT 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.

Pros

The 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.

Cons

While 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.

Response from Cost Management Performance Group

Replied October 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.