NEW Feature: Smart Categories and Document Preview

By Stephan Millard, Product Marketing

One thing is true about every deal: Time is critical. Getting the deal ready fast is always an imperative. Let’s show you two features in Datasite that can do just that - smart categories and document preview. Indeed, in a study with one of the top five investment banks, using these features, as well as AI Indexing, the team saved an estimated 6 hours getting the deal room ready.

The magic is our natural language processing algorithm that suggests categories of newly loaded documents and then allows you to preview them before you confirm their belonging. 

It's All About the Index

With our experience of powering 9,000+ deals per annum we know there is no single way for launching a data room. Some administrators spend a lot of time getting the index right. Others rush to launch the project room without a final structure knowing the Datasite Diligence search capability will help early bidders.

With smart categories for Datasite Diligence our powerful AI engine – trained on 3m+ documents and an M&A vocabulary of 400k+ words – automatically suggests a category for a document.

How It Works

1. Load your documents into Datasite via drag and drop for instance
2. Have the system suggest the category
3. Confirm the category by either
    a. approving the AI identified category
    b. OR selecting from our list of over 100 categories. You can even bulk edit categories of multiple files at one time.

Need to quickly find all documents relating to ‘General Corporate’? Simply filter for what you are looking for and Datasite will bring up all documents that fit that category.

Additional Value

But wait. It gets better. We understand that ‘executive compensation’ could be categorized as HR, Contracts or Corporate Governance. To give our admins more control over category selection, hover over the document name which will give a preview of its contents. No need to downloads the document to know what it contains. And if the document is not in a language you understand, simply use our Document Translate feature to instantly render it in into one of over 20 languages! 

Saving Admins Time

At Datasite we aim to save admins time with user experience improvements and use of modern technology. The former is in the form of fewer clicks, like the ability to preview documents. The latter with the use of machine learning.