Three Benefits of a Vendor Marketplace

As a vendor management platform that helps companies save time and reduce risk when managing third party vendors, VenAssure also offers an online vendor marketplace to connect companies, insurers, and TPAs to local independent investigation agencies across the country.

We’re a vendor agnostic platform, so if you love working with your current investigation agencies, you can keep doing so. But we also recognize that many companies need to find investigators in new locations regularly. A vendor marketplace can be a great way to do that for three key reasons.

Control over the decision

When using an online vendor marketplace, there are many companies to choose from, and you’re evaluating and hiring each company on your own terms. You can easily see the services offered, the fees each company has set, and the reviews and ratings left by other users of the platform. It’s entirely up to you who you hire based on all of the information available.

Confidence in their qualifications

Companies in our vendor marketplace list their current licensing and insurance documentation so you can be sure they meet your company’s qualifications. Having license and insurance information readily available saves the procurement or investigations team time on reviewing and approving new vendors. Plus, the ratings system built into the platform helps further identify vendors that meet your company’s specific needs.

Competitive pricing

A marketplace, by definition, is a place of economic activity. Just as with markets held in public squares, an online marketplace allows you to browse the available services and prices and choose the vendor that best fits your needs. Rather than going through the process of requesting quotes from multiple vendors and waiting for submissions, you can browse online listings and see everything you need in one place to make a quick decision and keep your cases moving forward.

By combining the VenAssure vendor marketplace with our vendor management platform, you can begin to build relationships and identify preferred vendors while keeping all of the information stored in one centralized location.