Q&A is an effective due diligence tool that enables anyone who has access to your VDR to 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 project the terms and condition and what they can expect.
The Q&A feature is already installed on Firmex. It can be enabled when creating data Room or editing one that already exists. If Q&A is turned on, an option called Question is displayed in the Data Room. To ask a question click the Question button in the interface for the data room. You will be presented with a pop-up window where you can add the title of the question, further details, and a link to the reference document. You can save the question as a draft (if you are a Question Author) or send it to the Answer Side (if you are a Question Coordinator).
When the Q&A procedure is in motion everyone will be informed when the question they posed has been answered. This can be done by selecting an icon on their screen. The user can review the response and then reopen the original question to seek more details. The Q&A tool can be used to conduct due diligence on M&A RFP/RFI or procurement processes. It can be customized and flexible to your needs.
Automate the Q&A workflow to ensure that questions are forwarded to the correct team without manual assignment. This lets subject experts concentrate more on answering questions than on managing the task.