Hey @SBandara
I think the easiest way is to make a list with notifications.
Then you can have a report of all the companies that doensn’t have a Preferred contact associated.
THe 3rd option 'd be to have a custom workflow to automate sending an alert to the team to let them know they need to add that into the contact/company and deal record, as this cannot be done easily with standard workflows.
hope this helps