Venminder Issue Management

Venminder Issue Management is a module within the Venminder third-party risk management (TPRM) platform that allows organizations to log, track, manage, and remediate issues related to vendor performance. Core functionality: - Centralizes vendor issue tracking across internal teams through a structured, configurable workflow - Enables users to document issues, record updates, and track progress from identification through to resolution - Provides a dashboard view showing the frequency, severity, and status of all open and historical vendor issues Issue logging and customization: - Supports unlimited custom fields with multiple answer formats (short/long free form, dropdown, date, and more) - Allows organizations to define custom severity levels with custom naming conventions (e.g., Critical, Moderate, Minimal) - Allows certain fields to be designated as required when submitting or updating an issue Workflow and approval: - Supports configurable approval workflows that guide internal collaborators through the issue remediation lifecycle - Issues can be configured to close with or without formal approval - Triggers and alerts can be set to flag issues indicative of increased vendor risk Reporting and visibility: - Robust reporting provides insight into vendor issue frequency, severity, and current status - Issue history is retained, and previously closed issues can be reopened - Dashboard assists with vendor contract renewal decisions by surfacing risk levels and issue criticality The tool is part of Venminder's broader software platform for managing the complete vendor lifecycle. Staff supporting the platform hold certifications including CISSP, CTPRP, CRISC, GCIH, ABCP, and CCNA.