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How Does Q&A Work in a Data Room?

Q&A is an integral part of any due diligence process. It allows bidders to inquire about documents in a safe and secure environment. A business could receive a large number of irrelevant questions if it does not have proper Q&A management. This could slow down the due diligence process and harm relationships between investors or buyers. The right VDR solution can help make the process more efficient for all the parties involved.

VDRs offer a safe and centrally located location for due diligence with built-in feature for questions and answers that can be configured to meet the particular requirements of each project. The Q&A feature is combined with specific due diligence tools to create an efficient due diligence process.

When you are in the SETTINGS phase of your Data Room, choose which groups of users will be able to use the Q&A feature and the role each user will have. For instance, you can create a «Clean Room» where the only users are buyers’ advisers and your legal team (also called your gatekeeping team). This will allow you to delegate and structure the way questions are asked and discussed.

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. The person who submitted the question will be informed once it has been answered by the Deal Team. Answers to all questions can also be exported to Excel to further analyze.

Data Room due diligence