Q&A is an effective due diligence tool. Anyone who has access to your VDR can ask questions and get answers. It enhances communication and decreases the time spent on duplication of efforts across several meetings. It ensures that both parties to the deal are fully aware of the project as well as the terms and conditions and what they can expect from the deal.
The Q&A feature is pre-installed in Firmex and can be activated when creating the Data Room or editing an existing one. When Q&A is enabled an option called Question is visible in the Data Room. Click the Question button on the data room interface to ask a query. You will be presented with a pop-up where you can enter the title of the question, additional details, and a hyperlink to a reference document. You can then save the question as a draft (if you are a Question Author) or submit it to the Answer Side (if you are a Question Coordinator).
Once the Q&A process is in motion everyone will be informed when the question they posed has been answered. They can do this by clicking on an icon on their screen. The user can review the response and then reopen the original question to obtain more information. 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 according to your requirements.
Automate the Q&A workflow to ensure that questions are directed to the correct team without manual assignment. This lets subject matter experts focus on answering questions rather than on managing the task.
