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Running a Portfolio Deal on ProDeal
Running a Portfolio Deal on ProDeal

Need to track task assignment and due diligence among many parties? ProDeal is the answer!

Ian Group avatar
Written by Ian Group
Updated over a week ago

With lots of properties and tons of diligence, tracking a portfolio deal can be complex. Enter ProDeal, a tool built specifically to help with large deals, lots of documents, task assignment and collaboration with many parties.

With ProDeal, you will be able to:

  • Consolidate tracking of deliverables

  • Task assignment to internal or external teams

  • Keep drafts, comments and closed documents all in one place

  • Quickly filter for open

Getting Started

The first step to get started will be to create your room. You might have a room template or create one from scratch. We've seen a lot of success creating headings that represent either properties or jurisdictions.

Here are a few helpful tips as you consider the configuration of your room:

  • Filters only line items. It's important to think about what you want to track. For example: if you want to be able to click a filter to see all of the properties that have open title reports, make sure the headings are each a specific property and the line items for that property are the deliverables (ex: title, survey, zoning). For more information on filters, click here.

  • Add a custom column. Since Prodeal currently limits the statuses applicable to each line item, a custom column will allow you to expand the description (e.g. "comments circulated xx/xx/xx" or "form approved"). For more information on adding a custom column to your room, click here.

Onboarding all Parties

Regardless of what tools you use to help organize your deal, it's important to let your colleagues know what they need to do and how to do it. Large projects take a coordinated effort! As you give instructions to your colleagues and third parties, be descriptive with what you want each party to do. Here's an example:

  1. All third parties will upload their reports to their respective folders on ProDeal

  2. Attorneys will review reports and confirm via ProDeal notes when their review is complete. Comments will be uploaded into their respective folders. (NOTE: please name all comments as such)

  3. Third parties will revise reports and upload them to respective folders. Continue to use line item notes to coordinate and sign off as to the form.

  4. Once we approve final versions of reports, we will close each line item (i.e. turn the folder green) to indicate completion.

Other Helpful Tips

  • Creating Team. Some users are inclined to add all users to one team. We highly recommend you do not do this. Instead, make sure to create one team per company or third party you invite onto ProDeal. This will allow to assign responsibility specifically to that team as well as determine what access they have for checklist items or documents.

  • Use responsibility assignment. This simple tool in ProDeal will allow all parties to the deal to filter for their specific tasks. Click here for information on how to assign responsibility and here for more information on checklist filters.

  • Let people know how to customize their notification settings! There will be lots of documents going back and forth on ProDeal. Once you have responsibilities assigned, users can scope all notifications to actions within folders where they are noted as a responsible party. Click here for information on how to configure your room notification settings.

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