June 4, 2012 – VendorInsight®, a subsidiary of Cost Management Performance Group, announced today it has won the 2012 Innovative Cloud Application (ICA) Award for its unique vendor management solution. ICA is awarded annually by Southern Business Web & Networks in recognition of an outstanding
enterprise level application that fills a specific industry need in a way that is integrated, innovative and intuitive. VendorInsight® is a solution for companies that need better processes, controls, and reporting for their vendors to meet enterprise risk management, expense management and performance objectives.
“VendorInsight® delivers on its promise for a higher standard for vendor management systems," states Mike Aukema, SBWebNet's co‐Founder. "It is an exceptionally well‐architected solution that helps companies manage vendor relationships from a 360‐degree perspective through its unique, hybridized delivery model as cloud‐based
software with outsourced process components and program management. It is a very elegantly designed piece of software with a sleek, user‐friendly interface that will appeal to everyone."
Several features led to VendorInsight® being a front‐runner for the 2012 ICA Award. The solution provides advanced risk and due diligence scorecarding capabilities, a unique news and market monitoring service, integrated performance surveys that are tied to contract SLA's, and a dashboard that allows clients to easily access
their most critically important vendor content. VendorInsight® supports every piece of the process from purchasing, sourcing, vendor management, and contract management to the supporting roles played by finance, accounting, risk management, information security, legal and compliance.
"With VendorInsight®, software and great business process are merged into a high performing system. What you see in VendorInsight® results from the universal design philosophy of our development team. It differentiates
our software making it appeal to companies who want process excellence and efficiency with great software that enables it," says Grant Karnes, Executive Director for VendorInsight®.
"All in all, VendorInsight® stood out as the cloud‐based solution that is most purposeful in its design and forwardthinking in its functionality,” adds Aukema. "Best practices built this solution and it is easy to see how it embodies the strong value proposition of an exceptional business process design. SBWebNet is proud to honor
VendorInsight® with the 2012 ICA Award. They clearly know what they are doing and continue to evolve their solution in ways that will lead the market they serve."
VendorInsight® is a subsidiary of Cost Management Performance Group, LLC (CMPG), based in Blue Ash, OH. VendorInsight® delivers the industry's most sophisticated and easy‐to‐use vendor management solution, backed
by CMPG's leadership, expertise and exceptional customer service, to help companies manage third party and vendor risk and improve operational performance and compliance. CMPG is a leading professional services and
software company that provides strategic profit enhancement and process development programs for financial institutions and other Fortune 500 companies in the U.S.
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