Q&A is a powerful due diligence tool. Anyone who has access to your VDR can ask questions and receive answers. It improves communications and reduces the amount of time spent on duplication of effort in numerous meetings. It also ensures that the key parties on both sides of the agreement are clear about the project’s conditions and terms, as well as what they are expected to do.
The Q&A feature comes pre-installed on Firmex. It can be activated when you create a Data Room or editing one that is already present. If Q&A is enabled an option for questions is shown within the Data Room. To ask a question, click the Question button on the data room interface. A pop-up window will appear, allowing you to add the title of the question, add more details, and a hyperlink to one reference document. You can save the question as a draft (if you are an Author) or send it to the Answer Side (if you are a Question Coordinator).
Participants will be notified by an icon on their screens when the question they asked was answered. The participant will be able to view the response and then reopen the original question to seek more details. The Q&A tool can be used to conduct due diligence in M&A RFP/RFI or procurement procedures. It can be customized and flexible to your needs.
Automate the Q&A flow so that questions are directed to the right team, without the need for manual assignment. This lets subject matter experts focus on answering questions rather than on managing the task.
