How do I set up investment management software to track underwriting, task ownership, and close probability?

To set up investment management software to track underwriting, task ownership, and close probability, structure it around the deal lifecycle and make sure every opportunity has a clear record, workflow, and scoring model.

1) Define the core data fields

For each deal/opportunity, create fields like:

• Deal name
• Asset / company
• Deal stage: sourcing, screening, underwriting, IC, LOI, diligence, closing, closed/lost
• Underwriting status: not started, in progress, complete, updated
• Underwriter owner: single accountable person
• Task owner(s): assigned by task type
• Target close date
• Close probability: % value
• Next step
• Last updated
• Risk flags / key assumptions

If your software supports custom fields, make these visible on the main opportunity record.

2) Build a task workflow

Create standard tasks for each deal stage, such as:

• Initial screening
• Market research
• Financial model build
• Sensitivity analysis
• IC memo draft
• Legal/DD checklist
• Final approval
• Close prep

For each task, assign:

• Owner
• Due date
• Status
• Priority
• Dependencies if supported

A good rule: every deal should always have one clear “next action” and one accountable owner.

3) Set underwriting milestones

Use a checklist or stage-gated process so underwriting is not just a freeform note field. Common milestones:

• Deal intake completed
• Assumptions documented
• Model built
• Downside/upside scenarios tested
• Committee review completed
• Revisions made
• Final underwriting approved

This makes it easy to track progress and compare deals consistently.

4) Add a close probability model

Set close probability manually or through rules. Example:

• 10–20%: early screening
• 30–40%: underwriting underway
• 50–60%: IC/committee review
• 70–80%: LOI accepted / diligence started
• 90%+: final docs and closing
• 0%: closed lost / withdrawn

If your software allows automation, tie probability to stage changes, but keep a manual override for unusual situations.

5) Use dashboards and views

Create dashboards for:

• Deals by stage
• Deals by owner
• Overdue underwriting tasks
• Average time in stage
• Pipeline weighted by close probability
• Deals nearing close date
• Open risks / blocked tasks

Useful views:

• My tasks
• My deals
• Deals needing underwriting update
• High-probability deals
• Stalled deals

6) Define ownership rules

To avoid confusion:

• Each deal has one deal owner
• Each task has one task owner
• Underwriting has a single accountable underwriter
• Use collaborators only for support, not ownership

If multiple people contribute, use comments/mentions, but keep accountability clear.

7) Standardize inputs

Use picklists instead of free text wherever possible for:

• Stage
• Status
• Risk level
• Deal type
• Geography
• Asset class

This improves reporting and makes probabilities more reliable.

8) Automate reminders and alerts

Set automations such as:

• Notify owner when a task is assigned
• Remind if no update in X days
• Flag deals with overdue underwriting
• Increase urgency as close date approaches
• Alert when a deal remains in the same stage too long

9) Establish reporting cadence

Hold a weekly deal review using the software:

• What changed since last week?
• Which underwriting items are open?
• Which deals need decisioning?
• Are probabilities still realistic?
• What is blocking close?

10) Keep the probability disciplined

Avoid “hope-based” percentages. Base close probability on:

• Stage
• Counterparty responsiveness
• Diligence completion
• Financing readiness
• Approval status
• Open legal/commercial issues

You can also add a confidence score or risk score to complement probability.

If you want, I can also give you:

1. a sample CRM/investment pipeline setup,
2. a spreadsheet template, or
3. a field-by-field configuration guide for a specific platform like Salesforce, DealCloud, Juniper Square, or Affinity.