It would be really great if the company type could automatically change when either an order is confirmed on when the company becomes lapsed.
For example, a prospect should change to a customer, and a partner's prospect should change to a partner's customer.
An account should be considered "Lapsed" after a specific period of time without a sale (configurable).
An update has been released to provide this functionality. We will be rolling this our to customers over the next few weeks.