Q&A is a useful due diligence tool that allows anyone with access to your VDR to ask questions and get answers. It improves communication and reduces the amount of time spent on duplication of efforts across multiple meetings. It will also ensure that the most important parties on both sides of the agreement have a clear understanding of the project’s terms and conditions, and what is expected of them.

The Q&A feature comes pre-installed in Firmex and can be turned on when creating the 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 query. A pop-up window will be displayed that allows you to input the question title, provide more additional reading about Key Features of Data Room Q&A detail, and hyperlink to one reference document. Then, you can 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).

All participants will be notified by a small icon on their screens when the question that they asked for an answer has been answered. The participant will be able to view the answer or 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 processes. It is flexible and configurable to meet your requirements.

Automate the Q&A workflow so that questions are directed to the correct team without any manual assignments. This lets subject matter experts concentrate on answering questions rather than managing the task.