How Does Q&A Work in a Data Room?

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Q&A is an essential part of any due diligence process. It allows bidders to ask questions about documents in a secure environment. Without an effective Q&A management, a business could receive a flood of unrelated questions that could delay the process and harm relationships with investors or buyers. Selecting the best VDR software can help make this a seamless experience for everyone involved.

VDRs offer a secure and centrally located location for due diligence, with built-in questions and answers that can be set to meet the needs of each project. The Q&A feature is integrated with special due diligence features to facilitate an effortless due diligence process.

In the SETTINGS area of your Data Room you can choose which groups of users are permitted to use the Q&A feature as well as what role each user is allowed to play. For instance, you can create an “Clean Room” where the only users are the buyer’s advisers and your legal team (also known as your gatekeeping team). This will allow you delegate and structure how questions are asked and answers.

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 will be sent to the Deal additional reading about Key Features of Data Room Q&A Team. The user who created the question will be informed once it has been answered by the Deal Team. Questions and answers can be exported into Excel for further analysis.

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