Company: Datasite, Minneapolis, MN
Company Description: Datasite® is a leading SaaS provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: Cloud Application/Service
 Nomination Title: Datasite Cloud
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
March 2023
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 350 words used.
Datasite is a leading cloud-based software and services provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle. It’s transaction and document management solutions for investment banks , corporate development , private equity , and law firms are used by dealmakers in more than 180 countries, with customers including 74 of the top 100 legal firms and all top 20 global financial advisory firms. In 2022, the company facilitated a quarter of the top 100 global deals. Datasite Cloud is a purpose-built platform for managing every stage of the dealmaking process, allowing dealmakers to collaborate in a seamless workflow on one software platform, while Datasite’s applications help manage distinct phases of the dealmaking process, including Pipeline for identifying targets, Acquire for buy-side due diligence, Outreach to drive deal marketing in bulk, Diligence for data room set-up, and Archive for auditable records. Through connected applications in Datasite Cloud, users can seamlessly move content between projects without leaving the safety of the platform. Powered by an artificial intelligence engine trained on over three million documents, an M&A vocabulary [REDACTED FOR PUBLICATION], and the ability to translate sections of any file to the language the user requires, Datasite’s applications can perform many of the manual tasks required in dealmaking, such as organizing and analyzing data, in far less time than previously performed. Plus, the use of AI and ML helps reduce human error and ensures greater regulatory compliance. Datasite’s AI engine can identify a huge range of personally identifiable information (PII) and not just obvious items like social security numbers and currencies, but hundreds more types, across multiple jurisdictions. Other features, such as Datasite Trackers, mean deal teams can import a static [REDACTED FOR PUBLICATION] spreadsheet, where an AI engine parses the data to create a dynamic checklist for tracking the due diligence process. Deal teams can then see in real time when anyone uploads a file, providing a single source of truth for all users involved in a deal. With Datasite Cloud, dealmakers can better manage their costs, reduce compliance risks, and increase productivity.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 330 words used.
In 2022, dealmakers spent [REDACTED FOR PUBLICATION] more time on preparing deals, while the length of time to complete due diligence increased [REDACTED FOR PUBLICATION]. Dealmakers needed to ensure that they were directing their knowledge and scrutiny to areas where it would count the most. By automating the manual and time-consuming activities involved in deal management, Datasite’s AI-powered apps can lower the number of billable hours a dealmaker spends redacting and formatting deal documents, providing more time to assess enterprise fundamentals, which ultimately leads to faster, more efficient deal execution. In dealmaking, when time is money, tools that speed up the M&A process are highly desirable. [REDACTED FOR PUBLICATION] The corporate development team of a large, publicly traded American multinational company uses Datasite Cloud for their M&A needs. With the team handling six to eight deals per year, efficiency is of paramount importance. They chose Datasite Cloud because they needed a one-stop shop that could be customized to their needs, combining pipeline management with a robust buy-side data room that is equipped to make projects faster and smoother. In this case study , a manager explains why he chose Datasite Cloud: “Work on our M&A pipeline is now so much easier – reporting, in particular, is effortless and at least 80% faster,” the manager said. “In Pipeline I can create customized views of all our targets, grouped by business unit or by stage, and give executive management a bird’s eye view of our M&A activity at a moment’s notice. Acquisitions themselves are also streamlined in Acquire,” the manager continued. “Datasite trackers tool gives us unprecedented visibility across the diligence process, while the findings tool smooths the transition between diligence and integration – letting us flag potential speedbumps even before the deal closes. We ultimately selectedDatasite from a host of competitors due to the completeness and quality of their offering – in particular their highly responsive customer service.”
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Datasite Cloud:
Datasite Cloud overview:https://www.datasite.com/us/en.html
Datasite Cloud news release:https://www.datasite.com/us/en/company/news/press-releases/datasite-introduces-datasite-cloud--to-manage-entire-dealmaking-.html
Datasite Cloud case study: https://www.datasite.com/us/en/resources/insights/case-studies/datasite-cloud-puts-corp-dev-into-overdrive.html
Other Awards:
Datasite Wins 2023 Bronze American Business Award for Fintech Solution: https://www.datasite.com/us/en/company/news/press-releases/datasite-wins-2023-bronze-american-business-award-for-fintech-so.html
Datasite Wins 2023 APAC Stevie Award for Technology Development Innovation: https://www.datasite.com/us/en/company/news/press-releases/datasite-wins-2023-asia-pacific-stevie--award-for-technology-dev.html
Datasite Named a BIG AI Excellence Award Winner: https://www.datasite.com/us/en/company/news/press-releases/datasite-named-a-big-ai-excellence-award-winner-.html
Datasite wins 2023 BIG Innovation Award for Financial Services: https://www.datasite.com/us/en/company/news/press-releases/-datasite--wins-2023-big-innovation-award-for-financial-services.html
Datasite wins 2022 BIG Business Award for Product of the Year: https://www.datasite.com/us/en/company/news/press-releases/datasite-wins-2022-big-innovation-award-for-product-of-the-year.html
Media Coverage:
How Technology is Helping Companies be Deal-ready for M&As: https://www.datasite.com/us/en/company/news/media-coverage/how-technology-is-helping-companies-be-deal-ready-for-m-as.html
Utilizing Cloud Computing to Succeed During Economic Uncertainty: https://www.datasite.com/us/en/company/news/media-coverage/utilizing-cloud-computing-to-succeed-during-economic-uncertainty.html
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