Overview
DiligenceVault allows requestors to send requests to multiple firms, products, strategies, vehicles, or service providers simultaneously. A single request can also include multiple questionnaire templates. Since DiligenceVault creates an individual project for each unique combination of entity and template, a request that appears small from the user interface may result in the creation of a significantly larger number of projects in the background.
The New Information Request Approval feature provides an additional firm-level control by introducing an approval workflow when a request exceeds a predefined project creation threshold. Instead of being sent immediately, the request is placed in a pending state and requires approval from a designated reviewer before it can be submitted. This helps firms maintain control over large-scale request creation and prevents unintended project volume increases.
- Prevents accidental over distribution: Stops a request from reaching an unexpectedly large number of firms or contacts because of how entities and templates were combined.
- Adds a review checkpoint: Gives a designated approver visibility into large requests before they leave the platform.
- Keeps small requests moving: Requests that stay at or below the threshold are sent immediately, with no added steps for everyday work.
How Project Counts Are Calculated
When a request includes multiple entities and multiple templates, DiligenceVault multiplies the two selections to determine the total number of projects that will be created. The examples below show how quickly that number can grow from a selection that looks modest at first glance.
Total projects created is the number of selected entities multiplied by the number of selected templates.
In the third example, selecting five products and five templates produces twenty five separate projects from a single request. This is the kind of scenario the approval requirement is designed to catch before it reaches external partners.
Configuring the Approval Requirement
Admins and Super Admins configure the threshold and the approver list at the firm level. Once saved, the setting applies to every new information request created for the firm.
Navigation Path
From the left navigation panel, click on your initials on the bottom left hand side corner > Firm Settings. Go to Preference and then Firm Preference.
Configuration Steps
- Enable approval requirement for new information request: Select this checkbox to turn the feature on for the firm.
- Threshold for approval requirement: Enter the maximum number of projects that can be created and sent without needing approval. Any request that would create more projects than this number is routed for review.
- Assign approver(s): Select one or more internal users. These users become the approvers who review and authorize requests that exceed the threshold before they reach external partners.
- Save Firm Preferences: Click this button to apply the change.
Firm Settings > Preferences > Firm Preferences: enable the requirement, set the threshold, and assign approvers.
Submitting a Request That May Require Approval
Requestors create requests the same way whether or not the approval requirement is enabled. The only difference appears at the final review step, where the send action changes if the request exceeds the firm's threshold.
Navigation Path
From the left navigation panel, click New, then choose a request purpose such as Pre-Investment, Ongoing Monitoring, or Adhoc / Event Related.
Steps
- Purpose: Select the type of request being created.
- Firm, Product, Strategy, Vehicle, or Service Provider: Use the tabs to choose the entity type, then select the plus sign next to each entity to include in the request. Select multiple entities to send requests to either by filtering the entities for manual selection
Selecting multiple entities on the Firm step of the request wizard.
- Questionnaire & Due Date: Assign one or more templates to the selected entities and set the due date.
- Review: Check the entity and template grid to confirm what will be sent. If the total number of projects exceeds the firm's threshold, the send button changes from Send Request to Send Request For Approval.
When the threshold is exceeded, the Review step displays Send Request For Approval in place of the standard send action.
- Certify and submit: Select the certification checkbox and click Send Request For Approval. The request is not sent to responders at this point. It moves into a pending state until an approver reviews it.
How Approval Routing Works
Every request starts the same way: it is submitted, and DiligenceVault calculates the total number of projects it would create. What happens next depends on how that total compares to the firm's threshold.
Requests at or below the threshold go straight to responders. Requests above the threshold wait for an approver decision.
Approving or Rejecting a Pending Request
Approvers assigned in Firm Preferences review and act on requests that exceed the threshold. Pending requests do not reach responders until they are approved.
Navigation Path
From the left navigation panel, click New > Requests, then select Requests Pending Approval(s) under Scheduled / Pending Approval Requests.
Requests Pending Approval(s) tile on the New request purpose screen.
Steps
- Pending Approval(s): Review the list of requests awaiting a decision. Each row shows the project name, status, creator, due date, as of date, last updated date, and number of entities.
A request showing a Pending Approval status on the Requests Pending Approval(s) list.
- Open a request: Click a project name to view its full detail, including the entity and template grid, associated contacts, and the outgoing email message.
- Approve or Not Approve: Review the details, then click Approve or Not Approve at the top of the page.
Approve and Not Approve controls on the request review screen.
- Confirm the decision: A confirmation dialog appears. You can optionally leave a note explaining the decision before confirming. Once confirmed, the projects will be created and sent to the responder.