The Q&A process in M&A transactions is vital but often bogged down by the inefficiencies of managing it in Excel. Version control issues, messy threads, and time-consuming updates slow progress and create confusion. Legatics simplifies this by centralizing the process, enhancing collaboration, and keeping everything organized. Let’s dive in and see how it works!
Managing Q&A in Excel is inefficient and error-prone
Excel is often used to manage the Q&A process, but it falls short in several key areas:
Version control issues: With multiple team members working on the same file, tracking the latest version becomes a headache. Updates can get lost, and team members often work from outdated copies, causing confusion.
Tracking threads is messy: Questions, responses, and follow-ups are often scattered across multiple columns in Excel, making it hard to follow the full thread of a query.
Manual updates are time-consuming: Maintaining the file requires constant attention to formatting and data integrity, adding unnecessary administrative burden.
Limited collaboration: Excel lacks real-time collaboration features, leading to delays as team members email files back and forth.
These challenges can slow down the Q&A process, lead to miscommunication, and increase the risk of missing critical information.
Legatics simplifies and centralizes Q&A
Legatics replaces outdated Excel workflows with a centralized, collaborative platform designed for efficiency and clarity:
Legatics allows you to begin your Q&A process by importing an existing Excel template. The platform automatically transforms the data into a dynamic list, preserving all your information while making it easier to manage and update.
Centralize questions and responses
All questions, responses, and follow-ups are stored in a single, structured list. Comments are clearly organized, eliminating the need for multiple columns to track discussions.
Collaborate in real-time
With Legatics, team members can work in one place, with changes reflected almost instantly. This eliminates delays caused by emailing files and ensures everyone works from the latest version.
Assign responsibilities
Easily assign questions to the relevant team members or parties, ensuring accountability and streamlining workflows. Everyone knows their tasks, and progress can be tracked effortlessly.
Track progress and status
Use statuses and filters to monitor the progress of each question, so nothing gets overlooked. Quickly identify unanswered questions or those awaiting further input.
How to manage Q&A in Legatics
Begin by uploading your Excel Q&A tracker into Legatics. The platform will automatically convert the spreadsheet into a dynamic list, maintaining the structure and data.
Customize your Q&A list by adding columns or refining sections as needed. Use Legatics’ intuitive tools to ensure everything is structured for clarity.
Assign questions to the relevant parties and allow team members to work collaboratively in real time. Use comments to provide additional context or clarify responses.
Step 4: Monitor progress and finalize responses
Use statuses and filters to track unanswered or incomplete questions. Once the Q&A is complete, export the final list for sharing or documentation.
Why Legatics is the better way to manage Q&A
Legatics eliminates the inefficiencies of Excel, helping you:
Save time by automating manual updates and tracking progress with statuses.
Reduce errors and confusion by centralizing all questions and responses in one platform.
Improve collaboration with real-time updates and clear accountability.
Deliver professional outputs with customizable lists ready for export.
With Legatics, the Q&A process becomes seamless and efficient, allowing your team to focus on what matters most—closing the deal successfully.