Q&A is a powerful due diligence tool for due diligence. Anyone who has access to your VDR can ask questions and get answers. It enhances communication and decreases the time wasted on duplicate effort in multiple meetings. It ensures that both parties are clear about the scope of the deal and the terms and conditions and what they should be expecting.
The Q&A feature comes pre-installed in Firmex and can be turned on when creating a new Data Room or editing an existing one. If Q&A is turned on, there is a tab called Question visible in the Data Room. Click the Question button on the data room interface to request a https://dataroomhub.net/data-room-qa-enhancing-collaboration-in-ma/ query. A pop-up will appear, allowing you to add the title of the question, provide more details, and a link to a reference document. You can then save the draft of the question (if you are an Author) or send it to the Answer Side (if you are a Question Coordinator).
When the Q&A procedure is in motion, all participants will be notified when the question they asked been answered by selecting an icon on their screen. The participant can view the response and then reopen the original question to seek more details. The Q&A tool can be used to conduct due diligence for M&A RFP/RFI or procurement processes. It is adaptable and customizable to your needs.
Automate the Q&A workflow so that questions are directed to the correct team without the need for manual assignment. This lets subject matter experts concentrate on answering questions, rather than focusing on managing the task.