Organizations are a powerful mean to define the structure of an account in a very flexible way. They provide both consolidation and security rules and can be used to design complex structures, workflows and permission schemes.
At any time, each user is bound to a single organization. The current organization holds the contextual information used to determine what the user can see or do:
- The portfolio includes all the transactions, for which the entities associated with the organization are parties or counterparties.
- Transactions display and are aggregated into the portfolio up to a share defined at the organization level for each entity. This enables defining complex consolidation rules in case of partially owned entities.
- Users contributing to an organization can have different permission sets according to their role inside the organization. For example, some users can only view a subset of the transactions, or manage only the transactions of a subset of entities that are members of the organization.
- An organization administrator can override some of the global settings in the organization context. For instance, it is possible to define local external counterparties.
When an account is created, it only contains one organization, named Default Organization. Account administrators can create as many organizations as they want. The reasons for creating organizations can vary from customer to customer:
- Defining different security perimeters for portfolio managers.
- Designing regional consolidation hubs.
- Mimicking a hierarchical structure.
- Etc.
Note: Properly designing the structure of your account is key to unleash Fairways Debt’s full power, especially in large organizations.