How Venminder Helps Companies Handle Vendors and Keep Risks at Bay
Around the world, everyone is taking their business online. There is so much competition now with regard to online stores that it is hard to stay on top. That is why we need to depend on automation services and other tools to differentiate ourselves from our competition. Venminder is one such tool that helps businesses automate, assess and keep track of their vendors. Here’s a look at how the company has been able to help companies from around the world.
What does Venminder do?
Venminder helps companies by centralising their data into one large reservoir. Furthermore, the company offers software solutions and platforms that allow businesses to automate their processes. Therefore, businesses get to assess, manage and keep track of their vendors with ease. This, in turn, helps them assess risks, avoid faulty endeavours, and stay on the road for success. The software handles the entire vendor lifecycle, from initialisation to final billing and delivery of services.
The Venminder Team
The first person who comes to mind when someone talks of Venminder is Dana Bowers, who serves as the Chief Solutions Architect for the company. She is also a Founder and a Board Member who assists the company with formulating their long-term strategy. Bowers is also very active in product development, as she brings over 30 years’ worth of experience to the table. She has been with the company since its inception, bringing forth a revolution in the field of vendor management.
Starting the Company
Dana was also the company’s CEO for around five years, until 2018. It was under her leadership that the company became a global brand with over 780 clients from around the world. Prior to founding Venminder, Bowers led iPay Technologies as its CEO, growing it to become one of America’s largest bill pay providers. It was the experience she gained working with such a high profile company that gave her the confidence to begin a venture like Venminder. Following iPay’s sale to Jack Henry, Dana leveraged her experience to start Venminder and make it a standard vendor management solution.
Current CEO, James Hyde brings with his boundless energy and passion. These qualities have helped James grow the company to its heights. He helped propel Braintree to become a global pioneer in the field of payment processing. This company was later sold to PayPal in 2016. Before this, he served as Senior Vice President of Sales at iPay.
Kelly Vick serves as the President of the company, and she has over three decades’ worth of experience in finance. She served as the COO of iPay Technologies before making the transition. After iPay’s acquisition by Jack Henry in 2010, she worked there as Senior Director of Operations before making her way to Venminder.
Cindy Horn is Venminder’s COO, also being an iPay Technologies staff for over ten years. She began her career at Bluegrass Cellular joining iPay Technologies after nine years. Brian Adams joined the team in 2012 and now serves as the company’s CTO. Michael Campbell handles the company’s financial management and has more than 20 years’ worth of experience in finance.
Growth and Expansion
Venminder has had two major rounds of funding from various investors. Their Series B funding worth $4M came in December 2016 with the lead investors being MissionOG and Bain Capital Ventures. Their first round of funding occurred in September, 2012 wherein they raised$1M. The company has an office in Elizabethtown and employs over 85 people across the US. Venminder generates over $1.11 million in sales annually, being a major player in the vendor management business.
Venminder’s software organises and centralises all data related to vendors. They help with risk assessment, contract management, questionnaire generation, and due diligence norms. They also offer various third-party outsourced services for due diligence, which helps with cybersecurity assessment and financial health reports. The company’s services help over 750 companies around the world in easing their workload and addressing tactical problems.
Venminder brought to the world a state-of-the-art approach to handling vendors. Their software and infrastructure helps thousands of businesspeople make the right decisions. It answers growing concerns that the industry has and helps companies overcome all their operational hurdles and challenges. Through the years, the company has helped both small and large enterprises from around the world. In the years to come, Venminder aims to reach out, and help even more companies fulfill their potential reach for the stars.
Being a cinephile with a love for all things outdoorsy, Athulya never misses a chance to chase inspiring stories or poke fun at things, even when the subject is herself. Currently pursuing a degree in mechanical engineering, she is someone innately interested in technical and scientific research. Music reviews and op-eds define her as they allow her to explore different perspectives. Though sometimes she thinks she makes more sense playing the guitar than she does while writing.