Purpose
The enhanced Organization profile provides a centralized place to understand who an organization is, where they're collaborating across the portfolio, and to maintain organization-level documents and compliance information.
As Built has expanded collaboration capabilities, organizations are increasingly participating across multiple deals and in multiple roles. Lenders needed a better way to understand where an organization is working with them and how they're involved across their portfolio.
Key Features
Deal visibility: See every deal where an organization is collaborating.
Organization-level compliance documents: Upload and manage compliance documents at the organization level, such as Builder's Risk insurance, instead of tracking them deal by deal.
How It Works
Organization-level documents serve as a centralized record for information that applies across multiple deals.
For an organization, a user can set the specific compliance requirements they want to track.
For each requirement, users can upload a document or use an existing document that's already been uploaded as part of another compliance requirement for that organization. They can also use AI to parse the document for the appropriate compliance metadata the system will track (coverage amount, effective and expiration dates).
Individuals who create and upload the corresponding compliance document get notified by email before documents expire (30, 15, and 7 days before, and on the day of expiration).
Note:
As of now, organization-level compliance information is not yet integrated into lender workflows such as deal or draw workflows, action center, or portfolio reporting.
Benefits
Centralized visibility into everywhere an organization is collaborating across the portfolio, without checking each deal individually.
AI-assisted document parsing reduces manual entry of compliance metadata like coverage amounts and expiration dates.
Automated email reminders before documents expire help reduce the risk of lapsed compliance coverage.