In-Built Q&A Feature In The Virtual Data Room

With the advent of the Internet, many business processes began to take place on its vast expanse, but it wasn’t always a good idea. Using untrusted, insecure platforms for sharing sensitive information puts companies at great risk of data breaches and deal-breakers. Fortunately, with the advent of the virtual data room, many of the problems of storing and sharing sensitive data have been resolved. The VDR provides a secure space where parties can discuss all important issues without any risks.

What is a virtual data room? 

A virtual data room is a unique online space focused on business activities. These platforms have a high level of security so that you can upload even your most sensitive data there without any hesitation. They allow third parties to view uploaded documentation and share data without the risk of leakage. VDRs provide collaboration tools such as encrypted chats or Q&A sections so you don’t have to use third-party apps for business communication. 

How can the Q&A feature improve the efficiency of your deal? 

So, as mentioned earlier, the Q&A feature was created so that people wouldn’t have to use external apps to share files. Absolutely everything can be solved within the data room. This allows you to speed up any transaction and assures you that you’ve only provided information to the right people. Below we describe the main features of Q&A and how they can help your dealership. 

  • Mass Download of Questions from Excel – In case you already have a list of questions you are interested in, you can download them directly from an Excel spreadsheet. This way you save a lot of time and don’t have to do extra manual work
  • Disclose to all – the administrator may think that some questions will interest many participants, so he can open up visibility to the questions and answers to it for all to see. Other participants can explore the Q&A section and find there what they were interested in
  • Use AI for Q&A – The best VDRs you can find on use artificial intelligence in the workflow of their space, and in particular in the Q&A section, to the similarity between the questions you ask and save you time and effort to answer for all users
  • Personalized prioritized to-do lists – Questions and answers are automatically sorted according to tasks that need immediate attention
  • Workflow security – as soon as a question is posted, it will be immediately reported by an automated notification. This way, you will be able to answer the question instantly and deals will be concluded faster

Advanced features of VDRs for faster deals 

Below we describe common features of virtual data rooms, and how they can help you close deals 

  • Clear interface – the simplicity of the interface helps you not spend too much time exploring the space, and also reduces the risk of human error, as all functions are arranged in an intuitive way
  • Security – VDRs offer the best security certificates and encryption methods so you can trust them with your sensitive documents. VDRs also offer dual authentication, monitoring features, and secure browser connectivity
  • Cross functionalities – VDR’s features save you time and money, provide you with easy document uploading and organizing with automation and smart search features, and allow you to control access to all documents by prohibiting copying, forwarding, printing, and uploading. It allows you to monitor all processes within the room and archive the room after a transaction is completed.