Stage Management for Vehicle and Asset Lending

Create a transition plan for each stage of the vehicle and asset lending application process. Set up stage management to restrict the values of the Stage field on an Application Form Product so that only defined transitions are permitted, and customizable actions can be completed after each transition. After each transition, Compliant Data Sharing participant records are created and updated to manage the visibility levels for different users throughout the application process.

1. Set Up Application Stage Values for Vehicle and Asset Lending
   Create picklist values for the Stage field on Application Form and Application Form Product objects. Also, create picklist values for the Applicant Visible Status and Partner Visible Status fields on the Application Form Product object. These field values help you use Stage Management and Compliant Data Sharing for vehicle and asset lending applications.
2. Create Participant Roles and Groups for Vehicle and Asset Lending
   Create participant roles for the Application Form, Application Form Product, and Party Profile objects. Add users with similar job roles to a participant group. When Compliant Data Sharing is enabled for objects, users in a specific participant group are provided equal level of access to the records. When you add users to Application Form, Application Form Product, and Party Profile records, you can map the required participant role to a participant group.
3. Map Form Stages to Form Product Stages for Vehicle and Asset Lending
   Create a decision matrix to map the Stage field on an Application Form Product record to the Stage field on an Application Form record. The application form product's stages are sub-stages of the related application form's stages. For example, the Contract Generation, Contract In Review, Awaiting Signature, and Signature Complete stages of an application form product are all mapped to the Closing stage of an application form.
4. Map Applicant and Partner Visible Stages for Vehicle and Asset Lending
   Create a decision matrix to map the Partner Visible status and Applicant Visible status fields to the Stage field on Application Form Product. The status of an application as visible to the applicants and the dealers can be different from the overall stage of the application. For example, when an application is in the underwriter approved stage, you may want the dealer to view the status as lender approved, and the applicant to see the status as approved.
5. Map Participant Group Access to Stages for Vehicle and Asset Lending
   Create a decision matrix to map the read and write access levels of different participant groups to the Application Form, Application Form Product, and Party Profile records. The decision matrix is used to determine the level of access that must be granted to underwriters, dealers, agents, and applicants across various stages of the lifecycle for a vehicle loan or lease application.
6. Create Apex Classes for Stage Management for Vehicle and Asset Lending
   Create apex classes that store the business logic for stage transitions. The autolaunched flow that's triggered when an application form product moves from the Intake to Submitted stage contains a step that calls the Apex class.When the stage field on the Application Form Product record is updated, the Apex updates the value of the Stage field on the related Application Form record, and the values of the Applicant Visible Status and Partner Visible Status fieds on the Application Form Product record. The Apex class also creates Participant records on the Application Form Product, associated Application Form, and associated Party Profile records to manage the visibility for different users.
7. Create a Stage Definition and Add Stage Transitions for Vehicle and Asset Lending
   Create a stage definition that defines the rules for transition from one stage to another for a vehicle lending application. A transition is any change to the value in the Stage field on an Application Form Product. A defined set of transitions prevents the applicants from updating the stage to invalid values.