Adding Joint Ventures

Adding a Joint Venture (JV) creates a new vendor record.

This section will discuss how to use the user interface to enter, remove, or modify JVs.  Adding a JV record consist of 2 different Steps:

Joint Venture profile screen

Add/Edit Joint Venture - contains information about the JV specifically

Add/Edit Members - contains information on the vendor members of the JV

Adding a vendor consists of adding the information for each segment.  If the information is not known at the time, you may update the profile at a later time. 

Only the JV’s EIN and Name are required to add it to PRISM.

Note: Why use the vendor's EIN as a key field?  It is simple, the EIN is the only field that remains consistent across enterprise systems and other external systems.  Many organizations share vendor certifications with other organizations.  The EIN allows PRISM to consistently and persistently maintain capability and data confidence.  An organization may choose not to use EIN.  Other internal ids may be used instead of the EIN however the id used must remain consistent across all other referential data in PRISM (i.e. contracts, and payments).

Adding A JV

1.From the Left menu bar, click the ‘Vendors’ link

2.From the big hamburger menu, select "Add a Joint Venture"

3.Complete the Step 1 section

4.You Must Click the ‘Add Joint Venture’ button to save this information

5.Complete the Step 2 section

6.Click the ‘Save’ button

Note: Remember, the sum of the Ownership percentage MUST equal 100!  PRiSM will not let you continue otherwise.