Q&A is a crucial part of any due diligence process. It allows bidders to inquire about documents in an safe setting. A company can receive a large number of irrelevant questions if they do not have proper Q&A management. This can hinder the due diligence process and harm relationships between investors or buyers. The right VDR solution will simplify the process for all parties involved.
VDRs provide a central and secure location for due diligence. They have built-in capabilities to ask and answer questions. This can be customized to meet the needs of each individual project. The Q&A feature works alongside specific due diligence features to ensure an efficient due diligence process.
In the SETTINGS area of your Data Room you can choose which groups of users are allowed to utilize the Q&A feature, and what role each user is permitted to have. For instance, you could create an “Clean Room” where the only users are your buyer’s advisers and your legal team (also called your gatekeeping team). This will allow you delegate and control 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 forwarded to the Deal Team. The user who created the question will be notified once it has been answered by the Deal Team. Answers to all questions can also be exported to Excel to further analyze.