Q&A is a crucial element of any virtual data room due diligence process which allows bidders to ask questions about documents in a secure environment. A business could receive many irrelevant questions if it does not have proper Q&A management. This could slow down the due diligence process and cause damage to relationships between buyers or investors. The best VDR solution can help make the process more efficient for all parties involved.
VDRs are a central and secure place for due diligence. They include built-in functionality to ask and answer questions. This can be customized to meet the needs of each particular project. The Q&A feature integrates with special due diligence features to facilitate an effortless due diligence process.
In the SETTINGS section of your Data Room, choose which groups of users will be able to use the Q&A feature and the role each user will play. For instance, you could, create a “Clean Room”, where only your legal team and the buyer’s advisors (also called the gatekeeping team) can access it. This will allow you additional reading about Key Features of Data Room Q&A to manage and organize the way questions are asked and answered.
When a user with the Q&A role clicks on an index/folder/document, they can add a question by clicking CREATE QUESTION. The question is then sent to the Deal Team. After the Deal Team has answered the question, the person who asked it will be informed. Answers to all questions can be exported to Excel to further analyze.
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