See the overview of Hierarchies here.
You can add a sub-account and then move users, RFPs, proposals, knowledge, etc. into the sub-account.
You can give your sub-account a name:
The internal name is what you call the group (or department, etc) internally. This will show to internal users only.
The external name is the name shown to outside organizations. This only comes into play if you are invited to an RFP/RFI/Profile. For example, our sub-accounts have external names of RFP360. So even though we have multiple internal sub-accounts, anything we respond to will be showing the RFP360 name (as opposed to Sales & Marketing, Security, Legal, etc.).
Now you and your team members can navigate between sub-accounts. To change which account you wish to work in, click on Select.