July 20, 2021

7 Datasite Features You're Missing Out On

By Anthony Scudieri, Manager, Product Marketing

Look, we know. You’re busy. So let us help you save time. If your VDR is simply a repository for documents, you’re missing out on time saving and productivity benefits that can add up to hundreds of hours. Good thing yours isn’t. Make your data room, not you, work harder, with these seven features:

1. In-app Translation

Even though cross border deal volume is down due to COVID-19, supply chains are becoming increasingly globalized. Chances are your team will run into documents in an unfamiliar language, and the last thing you want to do is stop your review process to go through a secure translation company to review which folder they belong.

In-app document translation frees you from the hassle of uploading, realizing the document is in a different language, deleting, translating elsewhere, and re-uploading. Simply upload and get a translation preview. From there, sorting the document into the right index location is a simple drag-and-drop.

Datasite’s translation capabilities cover more than 20 languages – including Chinese, Danish, English, French, German, Japanese, Portuguese, Russian, and Spanish. Switch from one language to another in a few easy clicks, all within the project that you create.

2. Project Inbox Emailing

What’s worse than a cluttered inbox? A cluttered inbox with dozens of separate email attachments that all needed to be uploaded into the VDR yesterday. Improve your entire deal team’s quality of life with Project Inbox.

With this unique feature to Datasite, anyone on your extended deal team from HR to operations or even external advisors can send files directly into the VDR by emailing the project’s unique email address. Security features ensure that only designated persons can email into Project Inbox, and that sent files contain no malicious surprises.

3. Commenting

Make your lawyers love you with a sophisticated paper trail. Say goodbye to lengthy, confusing email chains with missing attachments using document commenting.

Document commenting keeps team chats consolidated, accessible, and secure. Comment and use @Mentions to make notes directly on underlying materials, all from the comfort of your own data room.

Now, you can flag key dependencies and risks directly to colleagues for input while keeping the entire workstream centrally located. Spend less time searching for work, and more time doing it.

4. Dealmaker’s Circle

It’s 4:30pm on a Friday, and a new deal just landed on your desk. Feeling misanthropic? Dislike the world? Sometimes you just don’t want to speak to people, and with Dealmaker’s Circle you don’t have to in order to get your deal up and running.

Dealmaker’s Circle contains a wealth of self-guided knowledge ranging from basic “How-to’s” to more complex project processes. If you still can’t figure things out, use the same portal to connect with a specialist or schedule a training for a time that works for you. We’re there to guide you every step of the way.

5. Trackers

Checklists. Seemingly simple measures of progress, but maintaining them is a different story. Between version control issues and sharing information on a need-to-know basis, your latest copy could be very different from that of even your immediate deal team.

Only with Datasite can you simplify your life by consolidating your checklists directly into the data room. Trackers combine the flexibility of lists with row-by-row permissions, so that you can centralize the entire team’s to-dos while keeping them secure.

To get started, easily replicate your current checklist, or use one of our own templates. Then, sort or filter to see what you need and get updates right in your Dashboard. It’s intuitive and easy.

6. Findings

Emails. Conference calls. Nudge after nudge after nudge. Chasing your extended deal team around for due diligence results and then deciphering their takeaways can be a major challenge. 

With Findings, do away with the paper chase. Compel your team to provide answers in a concise, standardized template and ensure findings are linked to underlying materials. Then, keep your running list in one place and track your findings by status and priority on your Dashboard. 

In a recent corporate development survey, 48% of participants identified distillation of key due diligence findings as very to extremely challenging.

7. Redaction AI

You already know how important redaction is prior to launching a VDR, but do you know how long it takes? In our recent corporate development survey, respondents estimated they spent anywhere from three to seven weeks redacting throughout the deal process. Relying on external tools can add tens, if not hundreds, of hours to the prep phase and that’s simply wasted time.

Using pattern recognition, Redaction AI from Datasite can take a first pass at removing the sensitive company and personal information you might have scattered around tens of thousands of files. All from within the comfort of your Datasite project. Simply select the types of data to redact, and Redaction AI takes the first pass.

Now that you know about these seven features, it’s time to put them to use. Click below to speak to your client representative or request a personalized demo to learn more about how you can utilize these time saving and productivity benefits in your next deal or process.

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