Venminder Launches New Contract Redlining Feature to Further Streamline Vendor Risk Management

Venminder, a leading provider of third-party risk management solutions, today announced the launch of its new Contract Redlining feature in its third-party risk management software platform. This innovative feature integrates contract redlining, version control, and history tracking into the onboarding workspace, enhancing the efficiency and security of managing vendor contracts.

ELIZABETHTOWN, Ky., July 31, 2024 /PRNewswire-PRWeb/ -- Venminder, a leading provider of third-party risk management solutions, today announced the launch of its new Contract Redlining feature in its third-party risk management software platform. This innovative feature integrates contract redlining, version control, and history tracking into the onboarding workspace, enhancing the efficiency and security of managing vendor contracts.

"Contract Redlining is designed to meet the evolving needs of our customers by providing an intuitive solution for managing the complexities of vendor contracts," said James Hyde, CEO of Venminder. "This feature simplifies contract adjustments, secures compliance, and streamlines approvals, all within a unified platform."

Streamlined Contract Management Enhancements

The Contract Redlining feature offers an intuitive hierarchical view that simplifies navigation and organizes contracts more efficiently. This allows organizations to manage and edit contracts both internally and externally, with history tracking securely logged and supported by approval workflows.

Key Benefits Include:

• Reduced Operational Burden: Simplifies the process of contract modifications and approvals, significantly reducing the time and resources required.
• Enhanced Security and Compliance: Ensures all contract management processes are secure and compliant, fully integrated with the organization's overall TPRM efforts.
• Cohesive Workflow Integration: Provides a streamlined contract management system from the initiation of the vendor relationship, enhancing efficiency and compliance throughout the third-party risk management lifecycle.

Venminder's introduction of the Contract Redlining feature underscores the company's commitment to continually providing innovative solutions that enhance the effectiveness and efficiency of third-party risk management processes.

For more information about Venminder and its solutions, please visit http://www.venminder.com.

About Venminder

Venminder is the leading provider offering a unified SaaS platform for third-party risk management. The platform is used by more than 1,200 customers to manage the entire vendor lifecycle, from onboarding to offboarding, with ease and efficiency. Venminder combines technology and human expertise to enable customers to manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and much more. Venminder also powers Third Party ThinkTank, the largest online community dedicated to the practice of third-party risk. For more information, visit http://www.venminder.com or follow Venminder on LinkedIn, X, Facebook, and YouTube.

Media Contact

Venminder Media Team, Venminder, (888) 836-6463, [email protected], www.venminder.com

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SOURCE Venminder