July 22, 2021

5 Things You Didn't Know Datasite Could Do for You

By Anthony Scudieri, Manager, Product Marketing

The latest and greatest software features aren’t just for your phone anymore. In the face of longer, more complex deals, Datasite continues to innovate. Transaction management technology now does so much more for you than just store your documents. Here are five unique ways Datasite levels up your game.

1. Organize with AI

This isn’t your grandparent’s data room. While we’re all glad you’re no longer setting up and sifting through physical filing cabinets, you shouldn’t be dragging that cumbersome process online in spirit.

Lean on Datasite with AI-enabled auto-categorization, document previews, and in-app document translation to classify information quickly. Use OCR search down to the character level to find the information that you need. Rely on simple drag-and-drop interaction so that you can get your data room up and running with ease.

And are you working on the buy-side? Have we got something for you! Skip hours of checklist mapping by having the seller upload documents in your own VDR index with Datasite Acquire

2. Manage checklists

Worried there’ll be blood if you ask Steve one more time when he’ll finish the contracts deep dive? In our latest survey of 590+ corporate dealmakers, 47% struggled with workstream progress tracking, and it’s no wonder with deal teams managing so many different stakeholders and their respective workflows.

Trackers combine the flexibility of lists with real-time analytics so you can centralize your to-dos in one place and automate workstream updates. Easily replicate your current checklist or use one of our own templates. From there, Trackers are as dynamic as the deals you work on and easy to action through grouping, filtering, custom permissions or insertable rows and columns.

Once you set up Trackers, access your Dashboard to get a bird’s eye view of your entire deal process. Toggle by status and priority to see outstanding items, view upcoming deal milestones, and keep up with the latest document uploads and @Mentions.

3. Collaborate in the cloud

Efficient collaboration has never been more important as corporations continue to scale and employees span continents. Stop chasing your colleagues and make them come to you by centralizing your diligence.

Creating due diligence findings has never been easier thanks to our integrated Findings tool that keeps all takeaways in a single, sortable location. Remove uncertainty by compelling the extended deal team to provide concise, standardized answers via a template that links directly to underlying files and documents. Watch updates as they occur, and drill in for more details.

On the back of Findings, keep all your team chats organized, accessible, and secure so that you can flag key risks directly to colleagues for input. Use @Mentions to make notes on underlying materials and ensure that no one misses the message. 

4. Reporting on the fly

You have a wealth of information at your fingertips within your Datasite project, but how do you share those insights with the broader team? Every Datasite project comes with dedicated analytics so that you can easily track folder review progress, most accessed documents, document changes, login activity, and permissions history.

Even better, schedule your reports to be sent out at regular intervals. Data is refreshed every 5 minutes to ensure you’re getting the very latest updates. Don’t see what you need? Contact our services team to set up a custom dashboard.  

5. Unbroken communication chains

Deals can get hectic. Offline excel files, word documents, PDFs, and scans. Emails, Teams, Slack, Skype, and Zoom. Preserve a single source of truth and avoid common version control issues by keeping every workstream all within your Datasite project. All features such as Findings, Trackers, comments and @Mentions can also be linked to underlying documents to ensure that everyone is using the same source.

But you also know that the deal doesn’t end once the ink dries. Keep your Datasite project intact for post-merger-integration use. You’ve spent months doing the work, and that abundance of knowledge is invaluable for next steps like regulatory communications and ensuring integration objectives stay clear when the due diligence team hands off to the post-merger integration team. 

Click below to speak to your client representative or request a personalized demo to learn more about how you can utilize these features and more in your next deal or process.

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