Q&A is a useful due diligence tool that enables anyone who has access to your VDR to ask questions and receive answers. It improves communication and reduces time spent on duplications of efforts in multiple meetings. It helps ensure that the key parties on both sides of the deal have a clear understanding of the project’s terms and conditions, as well as what they are expected to do.

The Q&A feature is already installed in Firmex and can be activated when creating an entirely new Data Room or editing an existing one. If Q&A is enabled, the Question tab will be displayed in the Data Room. Click the Question button on the Data Room interface to ask a question. A pop-up will appear that allows you to input the title of your question, provide more detail, and link to a reference document. You can save the question (if you’re a Question Author) as a draft or send it to Answer Side (if you’re a Questions Coordinator).

Once the Q&A process is in motion everyone will be informed when the question asked been answered. They can do this by clicking on an icon on their screen. The participant will be able to view the response and then reopen the original question to obtain more information. The Q&A tool to conduct M&A due diligence, or an RFP/RFI or procurement procedure the Q&A workflow can be flexible and can be configured to your requirements.

Automate the Q&A workflow to ensure that questions are emailed additional reading about Key Features of Data Room Q&A to the right team, without manual assignment. This allows subject matter experts to focus on answering questions instead of managing the task.