NEW Feature: AI Indexing

By Axel Kirstetter, Product Marketing and Dan Tschida Product Management

You asked for tools to save you time. We respond with automation around appropriate index locations and folders for new documents.

When we looked at where administrators spend a lot of time in the platform and where Datasite gets many help requests, document organization and index set-up stood out. Establishing the index is a critical step for deal readiness and misplaced information is confusing for potential bidders. 

The Index Creation Process
With most virtual data rooms, the index is put together as such:

1. Set up of folders

2. Batch load documents into the project room

3. Assign individual documents to the index

4. Add new documents manually to appropriate index location once the index is locked

And here lies the problem. Steps 1 – 3 can be automated. Via the desktop for instance. But step 4 has to be done in the data room. It’s not uncommon to load thousands of documents post index lock.  This is now a manual task for the associate to sort through.

AI To The Rescue
Our sympathy goes out to you, non-Datasite-VDR-admins. Documents are often mislabeled or can straddle between index positions or have versioning/duplication issues requiring a time-consuming manual check.

To make this process smoother and easier we have used our artificial intelligence stack to suggest folders in the index where a document should be assigned to.

How It Works

• The files get processed by our optical character recognition engine and analyzed with our AI algorithm.
• A suggestion is returned to the admin on where a document might belong to. This helps with organization of the project room.
• Admins may then choose to move the file per the bot’s suggestion.

Uniquely, with Datasite there is no need to program and train the engine for weeks. We spent three years building out a library of 400k+ M&A words using 3m+ documents. The benefit of having AI built-in is accelerated virtual data room index creation. As we are dedicated to M&A, the learning with Datasite is ongoing. 

You Are (Still) In Control
We understand automation is one thing, control is another. AI Indexing for Datasite Diligence brings together time savings for the admin. Without compromising on index quality. In casual conversations, beta users have commented, "Thank you! Finally, less admin for me." As well as "I don’t trust AI but I like the way you implemented this giving me the final decision."