Hi Vishal,
Yes, you need to UPDATE the company name in Business Partner Data WoC by filtering your company name there.
Because when you create a company, a business partner is created in the system automatically and this is in the Business Partner Data WoC so you need to update there. You can check this Business Partner is linked with the org structure in the definition tab with field Associated Business Partner.
Thanks & Regards,
Anant Patel
SAP BYD FUNCTIONAL CONSULTANT
Email: anant3113@gmail.com
Skype: anant.3105