Recently, Merrill DataSite introduced a new feature — search alerts. The provider claims it’s capable of simplifying the workflow for dealmakers and accelerate deals. How does this function do that? We’ve learned everything about it and are happy to share the details with you. Let’s see how an improved search can make things easier.
No need to look for the same thing again and again anymore
Usually, when a company gets ready for due diligence, it gathers most of the required files. And very rarely it doesn’t need to add some more documents as the process unfolds. Therefore, dealmakers constantly need to search for the same details to make sure new information regarding them wasn’t added after the first review. But the statistics show that they don’t check these details again in most cases. Therefore, a lot of data remains unseen.
The search alerts in Merrill DataSite will fetch all the new documents that contain the keyword you were searching for — the files will appear in your activity feed. As a result, you will be aware of every bit of information throughout the deal without any effort.
This is a fairly simple feature that might seem insignificant. But often, the best solution is also the simplest one. Search alerts function will make sure you see all the new documents that contain all the keywords you were looking for from your very first login. Thus, you won’t need to search them again, and there is no chance important details will get away from your attention.
How does it work?
We’re sure there is some sophisticated algorithm behind this feature. But for users, it’s extremely straightforward. All you need to do is to search for a certain detail once, and Merrill DataSite will hold onto that keyword from now on. Once a new document is downloaded, the system will scan it for this term for you and bring the file to your activity feed if it contains the required keyword. Then you can just enjoy this smooth data room and make sure you’re aware of all the nuances of the current deal.