Firmex Data Room Q&A

Q&A is an effective due diligence tool for due diligence. Anyone who has access to your VDR can ask questions and get answers. It enhances communication and decreases time spent on duplications of efforts in multiple meetings. It will also ensure that the most important participants on both sides of the deal are clear about the project, its terms and conditions, and what they are expected to do.

The Q&A feature is pre-installed in Firmex and is available when creating an entirely new Data Room or editing an existing one. If Q&A is activated, the Question tab will be displayed within the Data Room. Click the Question button on the Data Room interface to request a query. You will be presented with a pop-up window where you can add the title of the question, further details, and a hyperlink to the reference document. You can save the question (if you’re an Author of Questions) as a draft, or send it to Answer Side (if you’re a Questions Coordinator).

After the Q&A process has been put 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. They can then see the response or reopen the question to ask for more information. 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 according to your requirements.

Automate the Q&A workflow so that questions are sent to the appropriate team without manually assigning them. This lets subject matter experts focus Data Room due diligence on answering questions rather than focusing on managing the task.