Edit User Accounts
Tip: The Site Sponsor is granted external user account management permissions by the SharePoint Administrator. There are several choices that the SharePoint Administrator can make when setting up a Site Sponsor. To understand the various choices and permissions of the Site Sponsor, visit the How-To Articles under Self-Service entitled "Configure Extranet Site Sponsors". Edit User Accounts is available if the Site Sponsor has been granted Site Sponsor Permissions to Edit User Accounts. The extranet users available to edit include extranet users for the sites listed in the Administrative Security Definition of the Site Sponsor's configuration.
On the Manage Sponsor Accounts page, the Site Sponsor can edit user account records by first selecting the user account that needs to be edited then clicking on the Edit User icon in the Ribbon (assuming the Site Sponsor has been granted this capability):

The information that is editable is generally referred to as User Profile information such as name, company, etc:
After the User Profile information has been edited click the Save button.

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