By Jeff Golterman, Product Marketing
You don’t stop redacting and we don’t stop innovating. Sell-side deal teams asked Datasite to help them un/redact more quickly specific redaction types such as GDPR/privacy, commercially sensitive or strategic redactions when they reach exclusivity with buyers.
Speed, Accuracy, and Security
Several admins framed the problem nicely. “When exclusive buyers emerge, and legal says it’s okay to share previously redacted strategic, commercially sensitive or privacy-related information, we need to unredact quickly to keep due diligence moving.”
Another added: “With COVID-19 issues impacting corporate financials, and a skittish buyer universe, we’re finding buyers want to dive more deeply earlier into final due diligence. However, when we want to share, for example, commercially sensitive data, it takes us at least 2 days using our current 3rd party redaction tools to make that data visible again.” Buyers are bargain hunting and anything that slows them down is reason to move onto their next target.
Why two days? These project administrators explained:
“We needed to start redaction all over again. For example, if legal approved the sharing of commercially sensitive information with a buyer, the redaction team would manually go through each file to redact for the “other” reasons such as strategic and GDPR/privacy and leave the commercially sensitive information visible for this buyer. Because of this highly manual process, we had to check and double check our work. Extra time was needed to manage file versions too. Very complex. This cost the team extra hours to make sure we didn’t miss anything.”
In Just a Few Clicks
So, our Datasite product team went to work. They designed a way to unredact for any combination of the “reasons” with just a couple of clicks.
Admins can assign a redaction reason to each redaction type so when unredaction is needed, it takes literally seconds to unredact. They were able to share previously redacted information to buyers in minutes.
The Redaction Reasons Reaction
Simple, elegant, and fast to unredact by reasons. Our testing with admins yielded “wow’s” and “that’s fantastic”. Admins were satisfied they could now unredact by reason or even multiple reasons in less than 30 seconds. This ability came in handy when turning on and off redaction reason types for different buyers. And flexible too - admins can redact and unredact individual files, multiple files, entire filerooms and even multiple filerooms.