Last updated on June 23rd, 2023 at 09:53 am
Dealmakers world over complain that inspite of all the digital transformation that has taken place, there are still many areas or aspects of the deal lifecycle that are rooted in ‘the old way of doing things’. This causes great delays and which is why most successful dealmakers are always looking for new and more effective ways to automate their workflows, giving their teams greater control, and increase the probability of a successful outcome.
Q&Ahas traditionally been the most complex and time-consuming part of the due diligence process. It is also one area that has great opportunities. This involves deal teams triaging buyer/investor questions via email, seeking the right subject matter experts to answer them, then managing the entire process (including any approvals or sign-off) through a multitude of spreadsheets. Anyone who has done this knows the difficulty, risk and frustration it entails, which is why finding a technology-based alternative is so important.
Most Q&A tools offer a simple solution to this problem, with a centralized interface for project administrators to manage Q&A. This saves a tremendous amount of time and provides confidence that Q&A is being properly managed. They include:
- An intuitive dashboard for real-time tracking of the Q&A process, enables quick and easy identification of bottlenecks in the process
- It imports all questions and immediately directs them to the respective subject matter experts for answers
- They answer all common questions from buyers with FAQ
- Their multi-level approval functionality ensures customization of workflows based on the complexity of the deal
- Their category-based visibility enables questions to be grouped by work stream and ensures that they are visible only to the relevant team members
- Auto-routing based on customized workflows allows questions to be directed straight to subject matter experts
Along with other features such as smart tools, project inbox, and AI-enabled Redaction, Q &A tools ensure that you maximize the value of your M&A technology every day.
The Confiex team specializes in providing premium virtual data room solutions tailored for businesses. With their vast experience in working with document sharing platforms, they have been actively supporting the Virtual Data Room community since 2015 by offering valuable information to users free of charge.