VendorINSIGHT Features

VendorINSIGHT

Vendor risk management solution

4.51/5 (49 reviews)

Competitor Feature Comparison

API
Alerts/Notifications
Approval Process Control
Archiving & Retention
Audit Management
Audit Trail
Automatic Backup
Certification & Licensing
Client Portal
Collaboration Tools
Compliance Management
Contact Management
Contract Drafting
Contract/License Management
Customizable Fields
Customizable Reports
Dashboard
Data Extraction
Data Import/Export
Disaster Recovery
Document Management
Email Alerts
Forms Management
Full Text Search
Issue Management
Monitoring
Offboarding
Onboarding
Performance Metrics
Policy Management
Quality Assurance
Ratings / Reviews
Records Management
Reporting & Statistics
Revision History
Risk Alerts
Risk Assessment
Risk Management
SSL Security
Self Service Portal
Sourcing Management
Summary Reports
Task Management
Template Management
Third Party Integrations
Transaction History
Vendor Managed Inventory
Vendor Management
Vendor Master Data Management
Version Control
Workflow Management
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API
Alerts/Notifications
Approval Process Control
Archiving & Retention
Audit Management
Audit Trail
Automatic Backup
Certification & Licensing
Client Portal
Collaboration Tools
Compliance Management
Contact Management
Contract Drafting
Contract/License Management
Customizable Fields
Customizable Reports
Dashboard
Data Extraction
Data Import/Export
Disaster Recovery
Document Management
Email Alerts
Forms Management
Full Text Search
Issue Management
Monitoring
Offboarding
Onboarding
Performance Metrics
Policy Management
Quality Assurance
Ratings / Reviews
Records Management
Reporting & Statistics
Revision History
Risk Alerts
Risk Assessment
Risk Management
SSL Security
Self Service Portal
Sourcing Management
Summary Reports
Task Management
Template Management
Third Party Integrations
Transaction History
Vendor Managed Inventory
Vendor Management
Vendor Master Data Management
Version Control
Workflow Management
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API
Alerts/Notifications
Approval Process Control
Archiving & Retention
Audit Management
Audit Trail
Automatic Backup
Certification & Licensing
Client Portal
Collaboration Tools
Compliance Management
Contact Management
Contract Drafting
Contract/License Management
Customizable Fields
Customizable Reports
Dashboard
Data Extraction
Data Import/Export
Disaster Recovery
Document Management
Email Alerts
Forms Management
Full Text Search
Issue Management
Monitoring
Offboarding
Onboarding
Performance Metrics
Policy Management
Quality Assurance
Ratings / Reviews
Records Management
Reporting & Statistics
Revision History
Risk Alerts
Risk Assessment
Risk Management
SSL Security
Self Service Portal
Sourcing Management
Summary Reports
Task Management
Template Management
Third Party Integrations
Transaction History
Vendor Managed Inventory
Vendor Management
Vendor Master Data Management
Version Control
Workflow Management
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VendorINSIGHT Feature Reviews

25 reviewers had the following to say about VendorINSIGHT's features:

Charles W.

Love the product

2019-10-04

Centralization of the vendor management function

Pros

Easy to use. Intuitive.

Cons

Especially around filtering and sorting

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hello, Charles! Thank you for your review. We're glad to hear you find VendorInsight? easy to use, intuitive and helpful. We understand your reporting capabilities concerns and will continue to escalate your development requests as soon as possible. VendorInsight? centralizes all documentation and reporting making it easier to be accessed by multiple departments. Please don't hesitate to reach out to your program admin with any additional comments, questions or concerns.

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Gerald W.

Keeps track of all your vendors

2019-03-08

Great product for the money.

Pros

Allows uploading and tracking of vendors through our vendor management process for onboarding, legal and security reviews.

Cons

Could stand to have better reporting and more flexibility with custom fields.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Monthly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Gerald! Thank you for taking valuable time out of your day to give us a review. We are happy to hear that you find the software user-friendly and can easily integrate into your existing vendor management process. We take your comments on custom reporting very seriously and will communicate those requests to our development team. Please don't hesitate to reach out with any questions or comments.

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Nancy A.

Vendor Insight - Excellent Risk Management Tool

2021-02-10

We can also use it effectively to share with auditors and examiners, who have been complimentary of our vendor risk management program as well.

Pros

Vendor Insight automates the vendor risk management function.

Cons

We do create our own separate custom tracking documents in some cases, because the software doesn't necessarily pull all the pieces into one report that we would like to see.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Patti R.

VendorInsight is easy to implement and use. Thanks to the great customer service and support Teams!

2017-12-12

With VendorInsight, we were able to automate the work flow and centralize all vendor documents.

Pros

Great features such as alerts, compliance requirements, questionnaires, risk assessments, and vendor scorecards.

Cons

It takes some time to get used to the workflow, but once you have that down, it flows pretty easily.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Patti, we loved reading your feedback! Customer service is the backbone of what we do and I'm glad you've experienced the fruit of that. We're excited to continue serving USAmeriBank in your vendor management goals.

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Allison L.

VendorInsight Review

2020-03-06

It is a great product overall for storing and keeping track of our third parties.

Pros

It is a good product to store our third party management files in.

Cons

It is not customizable friendly.

Rating breakdown

Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

5/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Allison, thank you for taking time out of your day to write us a review! We are pleased to hear you find our customer support team helpful and can easily navigate throughout the VendorInsight? system. We are aware of your concerns and have escalated them to our development team. VendorInsight? comes with a defined compliance framework that can be easily configured to your program. Unfortunately, some specific and unique programs may require additional development efforts. We hope you understand and continue to reach out with any additional questions, comments or concerns. Thank you!

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Susan W.

Non-User

2019-03-16

Cost prohibitive and nearly impossible to have this imported.

Pros

Compliance and risk management of our subcontractors required yearly documentation

Cons

Cost and ease of use. System is very busy.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Occasionally

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Susan! Thank you for taking the time to give us a review. We are pleased to hear that VendorInsight? has been a good tool to keep up with your compliance and required documentation for your subcontractors. VendorInsight? serves multiple industries and as a result, we understand not everyone is utilizing all the features. We have the best service team that would be happy to help explain all the different features that might be useful to you and your organization. We understand for organizations that have an increasing documentation load, it's time consuming to manually put into a system. VendorInsight? has the ability for data upload, a data import option or to have your contracts uploaded by our team. We can have your program administrator reach out to you and your organization to provide pricing and work with your cost limitations. Please don't hesitate to reach out to your program administrator with any additional comments, questions or concerns.

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Gbenga O.

Integrated Vendor Management

2019-03-19

One repository of up to date information on vendors and resources for performing my role.

Pros

Ease of coordination of various activities required in the Vendor Management process.

Cons

I have not observed any issues yet. All round great work!

Rating breakdown

Ease of use
Features

Time used: Less than 6 months

Frequency of use: Occasionally

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Gbenga, thank you for your positive review! We are happy to hear that you have not experienced any issues and have been able to work uninterrupted. We understand vendor management can be stressful. That's why we take pride in easing your vendor management process by coordinating your required activities on an easy to use interface. Please don't hesitate to reach out with any questions, comments or concerns.

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Craig R.

VI Review

2020-09-16

Will answer or return any time I call.

Pros

I am main user and admin so i have full control of the changes.

Cons

So far, no really issues with Vendor Insight and the software. Updates are done on weekends or after hours so little to no affect on my day to day usage.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Luis G.

Vendor Insight - The Best Third-Party Risk Management Tool in the Industry!

2018-09-25

I have been using Vendor Insight for over 7 years and it is the only tool that I will use for Third-Party Risk Management and the reason why my Vendor Management program continues to succeed.

Pros

The tool is easy to use and you always have a dedicated person to you that will assist you with any questions you may have.

Cons

There is nothing I do not like about it.

Rating breakdown

Ease of use
Features

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Luis! Thank you so much for your feedback. It¿s important to us offer a vendor management solution that¿s both comprehensive and intuitive. We¿re looking forward to continuing to work with you. ¿ Lindsey

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Carrie F.

User Friendly

2019-03-19

Appreciate the excellent customer service and super user friendly software.

Pros

I like that it is very user friendly and customer service is amazing! Thanks!

Cons

The reporting feature is very clunky to use.

Rating breakdown

Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Carrie! Thank you for taking time out of your day to write us a review. We're happy to hear that you find our software user-friendly. We believe our customer service is what differentiates us from other solutions, and we're glad that you think our team is amazing as well. We understand how important it is to have a clean and easy-to-use software. We can have your program administrator reach out to you to better support your reporting feature use. Please don't hesitate to reach out to your program administrator with any additional comments, questions or concerns.

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Keenan W.

Vendor Contract Management made easy

2016-09-30

Customer service off the charts and the system follows the rules and requirements for Vendor Contract Management ensuring that your company stays in compliance.

Rating breakdown

Value for money
Ease of use
Features
Customer support
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Keenan, thank you for the feedback! We're proud to offer our customers excellent service and expert solutions.

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Walter J.

A function-rich solution for a complex challenge

2016-10-14

VI is extremely function-rich and though I wouldn't necessarily recommend doing a totally decentralized Vendor management program where large numbers of vendor relationship managers are using the platform, it does provide a strategic and well-designed platform for oversight and management of a partially centralized approach to vendor management.

Pros

Completeness of functionality

Cons

Since the problem it solves is complex, the solution platform can be a bit complex too for a casual user. However, once an organization focuses on customization of the platform to their specific needs, it becomes a highly valuable tool.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

10/10

Recommendations to others considering VendorINSIGHT

Spend time with the initial questionnaires that the platform provides you, being sure to understand what actions requirements result from certain answers to the questions. It behooves you to customize the questionnaire to insure that relationship managers understand the questions and that the answers result in appropriate control requirements. In other words, customize so that every vendor doesn't result in a High Risk assessment.

Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Walter, we loved reading such thorough feedback! all of our improvements and updates are built upon the input of our customers, so thank you! We're excited to continue serving Peoples Bank of NC in your vendor management and business continuity goals.

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Sean K.

VendorINSIGHT Review

2019-09-23

VendorINSIGHT has helped organize and maintain our Vendor Management program with battle tested processes and customizations to help our program be successful.

Pros

The process demonstrates a logical workflow from start to finish.

Cons

While it's easy to setup, you can't implement the solution without help from the support team.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


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.

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Garth S.

I have never used a software where the support people are as powerful as the software itself.

2017-12-12

I've tracked money in savings directly attributed to VendorINSIGHT by managing renewals so that we are in front of the contract renewal life cycle.

Pros

I love that I can assign a specific contract or contracts to specific individuals and set alerts which are customized so that that only the correct audience is notified.

Cons

Hard to find something that's my least favorite. I think it would be that the way things are bundled. We knew going in that we would not be able to implement the vendor performance piece for quite a while yet it was "included" and I have this empty feeling in my gut that we are paying for something that we don't use.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Garth, it is great to read such good feedback from you! We're glad you've enjoyed working with our Service Team--we agree, they're some of the best! We're excited to grow with Rakuten and watch this partnership develop.

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Greig H.

VendorINSIGHT Does the Job!

2016-10-14

We love the alerting capabilities and the flexibility of how to set up the alerting.

Pros

The alerting feature

Cons

-

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


We appreciate the feedback Greig! Thanks for hanging in there with us as we go through a transition time at Canadaigua. We look forward to working with you more in the upcoming months!

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Anonymous
(Consumer Goods company, 1001-5000 employees)

VI would be more useful if it could be used to facilitate due diligence vs just housing the docs.

2017-12-12

Pros

That it can hold all contracts in one place and make them easily accessible. The reporting function are also very nice and user friendly.

Cons

The system currently assumes all documents are filled out correctly the 1st time.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

4/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Thank you, we appreciate your feedback. There are ways to validate documents are filled out correctly within the system today however, these features may not be utilized and/or enabled within your system. Additionally, VI 8.0 will be released in early 2018 and will include several updates to make the interface more user-friendly, and many of your concerns may be addressed in that update. Regarding your concerns with the software, we'd love to schedule a time to go over them together and walk through how we can better serve your needs. We're always looking to improve so please continue to express your feedback with us!

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Tom C.

VI REview

2020-03-04

Our experience with VendorInsight has been very good. The implementation and ongoing support from [SENSITIVE CONTENT HIDDEN] has been oustanding.

Pros

The software allowed us to easily import all of our current vendors make the implementation smooth.

Cons

The only things that is a bit of a challenge is navigating smoothly throughout the software.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Tom! We really appreciate the time you took out of your day to leave us a review. We're pleased to hear you found the implementation process smooth and effective. Additionally, we're glad you found the reporting and query features useful. It's understandable to be overwhelmed by all the features and areas of risk deployed in VendorInsight?. This is why we offer free on-site training with a dedicated program administrator. We take pride in our service team and will work hard to ensure you continue to have a good experience with VendorInsight?. Please don't hesitate to reach out with any additional questions, comments or concerns. Thanks!

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Teresa W.

Review of VendorInsight

2019-03-19

We are fairly new users of VI and are in the midst of an FDIC examination and audit. The reports that VI have provided have helped answer regulators' and auditors' questions.

Pros

I like the ease of pulling together various reports.

Cons

Having to enter vendor contracts one at a time. Would be nice to enter multiple contracts/agreements for the same vendor all at once.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Teresa! Thank you for taking time out of your day to give us a review. We really appreciate your feedback and are happy to hear you find the software user-friendly and can easily pull together various reports. We understand the need to enter multiple contracts at once and have communicated that to our development team. We recognize examinations and audits can be very stressful and we're extremely pleased to hear our software was able to ease that burden. Our team is always here to help in any way we can and to provide you with the efficiency you need to execute your program. Please don't hesitate to reach out to your program administrator with any additional comments, questions or concerns.

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Dustin P.

Great people supporting a very robust platform.

2016-09-30

The vendor management software solution has been tremendously helpful in organizing our vendor documents and identifying risks.

Pros

How it organizes and stores documents. The single most helpful feature is how it allows you to answer a few questions about each vendor and gives you the list of documents needed for each vendor.

Cons

They are always doing upgrades but two of the upgrades that I would still like to see would be bulk file uploading and allowing the vendor to upload their own documents.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Dustin, we are elated to hear such great feedback from you! We are excited for the opportunity to serve Westlake Financial Services and build upon your input for new features. You may not be aware but we do have the ability for bulk uploading through your Program Administrator. We also have a Vendor Portal to allow vendors to upload their own documents. Please ask your Program Admin for more information.

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John B.

Great Vendor Management Solution

2015-10-30

Vendor news alerts are also very helpful and timely.

Rating breakdown

Ease of use
Customer support
Source: Capterra
Helpful?   Yes   No
Read more
valerie h.

Great Risk Management tool

2019-10-01

We are pushing to automate and VendorInsight is working with us shoulder to shoulder as a partner to help get this done. They are great at listening to your needs and creating a resolution. They are customer driven and strive to accommodate the customer. Their yearly user group creates the foundation for their system updates.

Pros

• ease of use • big bang for the buck • great customer service • easy to customize

Cons

I have no cons to report

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hello Valerie, thank you for your response! We are very happy to hear you've had a positive experience with VendorInsight?. We're proud of our customer service team and glad to hear they're using their expertise to implement and customize your program. We look forward to seeing you again at our annual user group next year! Please don't hesitate to reach out to your program admin with any additional comments, questions or concerns.

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Anonymous
(Banking company, 501-1000 employees)

New user

2019-03-08

We are just now implementing it and the team has been fantastic to work with. We are also pushing the envelope quite a bit- - no major issues.

Pros

Working with the folks has ben awesome. The collaboration aspect of the platform is great.

Cons

This has been overcome with the teams openness to listen and understand that some things need to be added due to the expansion of risk management from a contract focus into a holistic Sourcing/Vendor/Contract/Risk focus.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi there! Thank you for taking time out of your day to write us a review. We have an amazing team at VendorInsight? and are glad you think so as well. We pride ourselves on the ability to tailor our software to your vendor management process. We appreciate your feedback and are glad that we could expand our functionality to meet your needs. We would be interested to hear more feedback and hope you continue to reach out with any additional questions, comments or concerns in the future.

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Julie C.

VendorInsight feedback

2020-03-13

Pros

The product is fairly easy to use. The dashboard to see what is still pending.

Cons

Tasks and remediation, in stead of sending emails to the same person for every remediation, the ability to group remediation tasks into 1 email notification.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Occasionally

Likelihood to recommend

6/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Julie,

Thank you for taking the time to post a review! We appreciate the feedback and are happy to hear you find the dashboards helpful and the system easy to use. We do understand your request to send multiple remediations into a single notification. Consolidating everything into one email would make this easier to manage if you have multiple remediations going to a single individual. I've escalated this request into our development review process for consideration. In the interim, I would like to meet with you to understand the reasons for the rest of your ratings. I'll be reaching out to you directly to perform a program review and assess how VendorInsight can improve from a 3-star to a 5-star rating from your perspective. We are always here to help and take pride in being a good resource for your vendor management process. Please feel free to reach out with any additional questions, comments or concerns.

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Greig H.

It's got the stuff

2019-08-02

Staff that we work with is second to none. We are customizing the software to meet our particular needs.

Pros

The software is very customizable. The development team works very hard to meet our needs.

Cons

Tracking capabilities of all actions is not necessarily captured

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


Hi Greig,

We want to thank you for taking time out of your day to write us a review. We're happy to hear you're able to customize our software to meet your needs. Our service team works very hard to make sure our customers are getting the most out of VendorInsight?. We appreciate your feedback and hope you'll continue to reach out with anything you may need.

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Garth S.

A great contract/risk managemetn tool

2019-03-08

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

Mainly I use this software for contract and Risk Management. Within 2 days I was able to start loading contracts in to the system.

Cons

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No

Response from Cost Management Performance Group


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.

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