Datasite LLC — formerly called Merrill Corporation — is a software provider founded in 1999 as a subsidiary of Datasite Global Corporation, and headquartered in Minneapolis, United States.
Datasite offers a suite of software products designed to streamline M&A, restructuring, and IPO processes such as due diligence, post-merger integration, and financial transactions. Datasite products are not intended for any industry in particular — among others, they serve companies as diverse as real estate agencies, investment banking companies, and law firms.
Among the various solutions offered by Datasite is its virtual data room software, Datasite Diligence.
Document security features
Datasite Diligence protects the content stored in its data rooms with a vast array of industry-leading security measures and features. Among those are the features listed below.
- Data security training for all employees. This ensures the people working for Datasite are constantly aware of security requirements, and always comply with them to the full.
- Annual testing of security response. This reduces the likelihood of security breaches that might happen because of new or overlooked loopholes in Datasite security.
- Physical security measures. Personnel who are physically present at Datasite facilities can only access them with a key card, and external suppliers entering the premises must be registered in a database and accompanied at all times by a member of the Datasite staff.
- Customizable watermarking. When using Datasite virtual data room, administrators can include customizable watermarks in shared documents, so that every user will see his own personal information watermarked into the documents they access. This strongly discourages the users from sharing sensitive data without authorization.
- Granular user permissions. When administrators decide who can view, edit, download and print documents from the virtual data room, they can decide that down to the level of each individual user.
- AI redaction. This feature makes it easy to erase confidential information even from documents that have thousands of pages. The admin only has to specify which kinds of data they want erased, and the AI tool will automatically look for and find all the places that information appears in the document, then delete it.
- View as. When an admin is attributing permissions to an individual data room user he can impersonate that user so as to view the data room exactly as the user would. This makes it easy for the admin to know exactly what each user can see and do in the data room.
- Two-factor authentication and multi-factor authentication. Administrators and users can add an extra level of security to data room access.
- Periodic, automatic password resets. This measure increases data room access security by eliminating the possibility that an old password be used to hack into a user’s account.
- Single Sign-On. Instead of having to sign on separately to each software solution in the Datasite suite users only need to sign in once into Datasite, and can access all solutions from there. This reduces the number of vulnerable places a hacker would try to attack — Datasite protects that one entry and all is well.
- Data encryption in transit and at rest. In the event of a data breach that would allow unauthorized people to get their hands on confidential data, this feature ensures the data remains protected. It doesn’t matter if the data was stolen when stored or during transmission — documents stored in Datasite Diligence are encrypted at all times, so data thieves will not be able to access the information in them.
- Vulnerability assessment by a third party. Independent professionals periodically test Datasite’s defenses, so that any weak points can be discovered and repaired before hackers have the opportunity to exploit them.
Collaboration and document management features
When they want to upload multiple files onto the data room, admins and users can either email them in or just use the drag and drop functionality to transfer the files from their computer folders directly onto the data room. Apart from this, Datasite Diligence collaboration features are similar to those found in other virtual data rooms.
This data room provider offers its customers several support options. Phone support landlines are available for the United States, Canada, Latin America, EMEA, and APAC countries.
Datasite clients can also use the provider’s portal to contact live 24/7/365 chat support, as well as to see demo videos, register for live training classes, and access customer forums.
Alternatively, clients and prospects can contact Datasite by email. Support for users of the Datasite data room is provided in 20 languages.
The Datasite data room includes several AI-based tools which radically reduce the time needed to create a data room index, rename and organize documents, or redact information from them.
Another feature is the possibility of creating Q&A rooms, where users can ask questions and get answers from expert team members all in one place.
Like most virtual data room providers, Datasite does not provide any information on Datasite Diligence prices or pricing plans on their website.