Firmex Virtual Data Room

Firmex Virtual Data Room

Securely store and share highly confidential documents

4.7/5 (54 reviews)

Firmex Virtual Data Room Overview

Firmex Virtual Data Room is a secure online platform for sharing confidential documents within companies such as investment banks, law firms, private equity groups, and corporations. The platform provides a highly adaptive interface that can be tailored to accommodate various types of business workflows. It supports large-scale collaboration and complex security scenarios with numerous parties, and aims to help close more profitable deals quicker, and more efficiently.

Firmex Virtual Data Room integrates with the organization’s IT system and provides a customizable interface with personalized branding. The solution enables users to streamline numerous business practices including document viewing, uploading, and revisions, as well as note sharing and collaborations.

Users can invite other individuals or entire teams to a deal and set permissions, granting and restricting access as needed. Permissions can be applied to entire projects, folders, documents, or users. Users can easily drag files or folders into the data room using the drag and drop feature, and tag documents to track changes and assign tasks.

Historical document tracking is simple with the solution’s ‘versions’ feature that automatically displays the most recent version of a document. It also allows users to look back through previous versions to see what changes were made in the past. Users can apply dynamic watermarks to documents, restrict downloading and printing, as well as track and audit user activity. With Firmex, all data is kept in secure data centers with fire and disaster safeguards, along with keycard and biometric access.

Pricing

Starting from
N/A
Pricing options
Free Trial
One Time License
Subscription
Value for money

Devices

Business size

S
M
L

Markets

Canada, Europe, United States

Supported Languages

English, French

Firmex Virtual Data Room Reviews

Overall rating
4.7/5
98% positive reviews
36
Excellent
17
Very good
1
Average
0
Poor
0
Terrible
Ian N.

Simple, yet valuable

Used Daily for 2+ years
Reviewed on 2019/05/29
Review Source: Capterra

I've used Firmex DVR on many projects and it's much easier to use than other solutions. Data rooms requiring training will reduce the utilization by the project team.

Pros

Firmex VDR is easy to use. It offers the ability to toggle quickly between projects, has an intuitive folder structure, and allows for easy uploading and viewing of documents.

Cons

Having an embedded version control option would be valuable, with an easy way to distinguish between drafts and final versions of documents.

Response from Firmex

Hi Ian,

Thanks for the review! With regard to Firmex having an embedded version control option, you'll be glad to know that we have one. Here's a quick summary of our versioning and document status options:

Firmex's versioning feature is built-in to our system. You can choose to upload a new document, or a new version of a document. You and your team can always access the version history, while only giving guests users access to the latest version of the document (the "document of truth"). Firmex can also detect new versions of a document based on the content of the document.

Firmex also supports content status on documents and folders. Many of our customers use this content status to designate whether a document is in draft, awaiting review, or final. This usually coincides with our document comment and tag systems.

Your Customer Success Manager will follow up with you to demonstrate these features at your convenience.

Kyle Bardsley
Senior Director, Customer Operations & Growth

Rating breakdown

Ease of Use

Likelihood to recommend

9.0/10
Matt I.

Excellent Choice for a VDR

Used Weekly for 2+ years
Reviewed on 2016/07/14
Review Source: Capterra

Our firm has used Firmex VDRs for dozens of investment banking transactions and are very pleased with the product they put out as well as the support and service we receive.

Pros

The functionality is perfect for running a VDR to share documents and files with many parties while controlling the document flow and accessibility of any party on any document. The product is very competitively priced compared to a lot of the service providers out there. Customer service is very prompt and happy to walk you through any issue, small or large. Firmex is also continually improving its services.

Cons

Security functionality is limited once the files have been downloaded by another party (if you allow them to download). Once a party bulk downloads you lose the ability to track their access and usage of documents and delete the document if you would like to remove their access from the information completely.

Response from Firmex

Hi Matt,

Thanks so much for taking the time to reflect on your Firmex experience.

We very much understand the benefits of being able to track how your users are interacting with files once they've been downloaded. We do offer a selection of Seclore-supported document protection options that can be applied to help monitor the document activity of your users even after the documents have been downloaded from the platform. The Lock to Computer, Expire Access and No Print document protections will give you the insight you're looking for!

I encourage you to reach out to your Firmex rep or Firmex Support to get more information and explore if these protections are right for your project.

Many thanks,

Maren Van Zutphen
Customer Success Manager

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Verified Reviewer

Firmex Virtual Data Room

Used Daily for 1-5 months
Reviewed on 2019/01/10
Review Source: Capterra

For the Real Estate and Investment banking, the sharing of confidential documents within the company and taking on projects being in a group has been made easier. The legal documents and the finances which cannot be exposed can be accessed and updated from anywhere with Login access, for example on my iPhone.

Tracking old files is much easier, as we go through sharing hundereds of files everyday with corrections pointed and re-corrected.

Pros

The custom sharing platform which is secured and the visibility control for employees. The best part of software is the document validity & password we can set and the people we can choose from list that can access or view the documents. Also the same document cannot be shared by E-mail or any other non Data-room platform and if done. We can control the share and track of the confidential documents.

Cons

The drawback of this software is that we cannot assign different permission or access levels to people in same group. Also, the time stamp cannot be changes to local time, it's always EST available.

Response from Firmex

Hello!

Thank you for using Firmex. We pride ourselves on our customer service and you having the best experience.

In the future, we would be happy to show you how to set user-based permissions in the data room. It's a function we have to set from our end, as group-based permission is the preference of a majority of our users, it's our default.

In terms of time zones, increased functionality is on our road map. As it stands now all of our reports can be run at any time zone, be it est, your time zone, or anyone you choose.

Happy to jump on a quick call at your convenience.

Thanks you,

Jason @ Client Success

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Emma S.

User feedback

Used Daily for 2+ years
Reviewed on 2019/07/22
Review Source: Capterra

Pros

I like how easy the software is to use, and how you can set all different levels of users, i.e people can only view documents and other cans download etc.

Cons

At first it was very complicated to use. Should have some demo videos.

Response from Firmex

Hi Emma,

Thank you for your feedback! I'm glad you've enjoyed using Firmex and found the software easy to navigate once you got familiar with the platform.

We do believe that our users could benefit from some videos when they're first introduced to Firmex. We do have a Getting Started video series available on our Firmex Knowledge Base, and I've attached the link to the first video in the series below.

https://support.firmex.com/hc/en-us/articles/204467538-Start-a-new-project-change-the-project-name

Once again, thank you for your feedback.

Maren Van Zutphen
Customer Success Manager

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Verified Reviewer

Firmex meets expectations!

Used Daily for 6-12 months
Reviewed on 2019/05/29
Review Source: Capterra

Pros

Firmex is easy to use on both an admin and user perspective. The support from Firmex makes it easy to troubleshoot issues. Firmex is by the far the best VDR platform I've used (cost combined with functionality).

Cons

The process of allowing users to view certain documents within the VDR could be improved. For example, not having to setup permissions by group, but by user. Further, understanding when users are downloading information by receiving email notifications.

Response from Firmex

Hi,

Thanks for the review! We hear you loud and clear. The majority of our clients prefer group-based permissions and the advantages that come with it, but we understand that certain projects require user-based permissions.

Our Client Services team would be happy to customize your project to allow for user-based permissions. This will allow you to hide documents inside a folder by user, as well as setting up users instead of groups.

I'd be happy to hop on a quick call at your convenience.

Thanks again for choosing Firmex,

Kyle Bardsley
Senior Director, Customer Operations & Growth

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10

Firmex Virtual Data Room Pricing

Starting from
N/A
Pricing options
Free Trial
One Time License
Subscription
Value for money

Single-Use Data Room
One-time fee

Multi-Use Subscription
Annual fixed fee

Contact Firmex for pricing details.

Firmex Virtual Data Room Features

  • Access Control
  • Collaborative Workspace
  • Customizable Branding
  • Drag & Drop Interface
  • Permission Management
  • Projections

  • API
  • Activity Dashboard
  • Activity Tracking
  • Automatic Notifications
  • Chat
  • Collaboration Tools
  • Commenting
  • Communication Management
  • Document Management
  • Document Storage
  • File Management
  • SSL Security
  • Search Functionality
  • Third Party Integration

Additional information for Firmex Virtual Data Room

Key features of Firmex Virtual Data Room

  • Add and invite users
  • Apply dynamic watermarks
  • Assign roles to users
  • Auto-organize new documents with versioning
  • Biometric safeguards
  • Branding
  • Check security settings
  • Collaboration tool
  • Compliant with EU Data Protection Directive
  • Compliant with UK Data Protection Act
  • Customizable DRM for documents
  • Customizable access settings
  • Document expiry dates
  • Document recognition
  • Document viewer tool
  • Expire access to documents
  • Forward attachments from a mobile device
  • Full version history
  • HIPAA & SOC 2 Compliance
  • Invite users
  • Multiple levels of security
  • Permission to print and download
  • Permissions
  • Preview data room as a specific user
  • Rename and reorganize
  • Restrict access
  • Restrict saving & printing
  • Tag documents
  • Track & audit document and user activity
  • Track historical documents
  • Two-factor password authentication
  • Upload anything with drag & drop
  • Upload via email

Benefits

Firmex's 'Email-in' feature lets users upload documents to the data room via email while out of the office.

Users are in full control of their documents with security settings like access expiry, saving and printing restrictions, dynamic watermarks, and more.

Firmex offers project consultation for creating the best fitted data room to match the organization's needs.

Users can simply send their hard drives to Firmex, and they'll send back a completed and organized data room ready-for-use.

Firmex virtual data rooms store data in secure data centers that hold all major North American, European, and international security certifications.

Firmex Virtual Data Room FAQs

Below are some frequently asked questions for Firmex Virtual Data Room.

Q. What type of pricing plans does Firmex Virtual Data Room offer?

Firmex Virtual Data Room offers the following pricing plans:

Pricing model: One Time License, Subscription

Free Trial: Not Available

Single-Use Data Room
One-time fee

Multi-Use Subscription
Annual fixed fee

Contact Firmex for pricing details.

Q. What are the main features of Firmex Virtual Data Room?

Firmex Virtual Data Room offers the following features:

  • Add and invite users
  • Apply dynamic watermarks
  • Assign roles to users
  • Auto-organize new documents with versioning
  • Biometric safeguards
  • Branding
  • Check security settings
  • Collaboration tool
  • Compliant with EU Data Protection Directive
  • Compliant with UK Data Protection Act
  • Customizable DRM for documents
  • Customizable access settings
  • Document expiry dates
  • Document recognition
  • Document viewer tool
  • Expire access to documents
  • Forward attachments from a mobile device
  • Full version history
  • HIPAA & SOC 2 Compliance
  • Invite users
  • Multiple levels of security
  • Permission to print and download
  • Permissions
  • Preview data room as a specific user
  • Rename and reorganize
  • Restrict access
  • Restrict saving & printing
  • Tag documents
  • Track & audit document and user activity
  • Track historical documents
  • Two-factor password authentication
  • Upload anything with drag & drop
  • Upload via email

Q. Who are the typical users of Firmex Virtual Data Room?

Firmex Virtual Data Room has the following typical customers:

Large Enterprises, Mid Size Business

Q. What languages does Firmex Virtual Data Room support?

Firmex Virtual Data Room supports the following languages:

English, French

Q. What type of pricing plans does Firmex Virtual Data Room offer?

Firmex Virtual Data Room has the following pricing plans:

One Time License, Subscription

Q. Does Firmex Virtual Data Room support mobile devices?

We do not have any information about what devices Firmex Virtual Data Room supports

Q. What other apps does Firmex Virtual Data Room integrate with?

We do not have any information about what integrations Firmex Virtual Data Room has

Q. What level of support does Firmex Virtual Data Room offer?

Firmex Virtual Data Room offers the following support options:

FAQs, Knowledge Base, Online Support, Phone Support, Video Tutorials