Firmex Review

firmex

Firmex is a virtual data room (VDR) company that works with over 75,000 companies worldwide to provide a secure, efficient, user-friendly platform for M&A deals, corporate document sharing, legal extranets, investor reporting, corporate governance, regulatory compliance, litigation, procurement and more. Over 80% of Fortune 500 companies trust Firmex’s security, ease of use, and simple pricing model.

How did Firmex grow to work with 75,000 companies across the globe?

Firmex envisioned a better way to share vital data, built on technology people love to use. They provide unlimited use, expert 24/7 one-call support, and a fixed price model with complete cost certainty. They wrapped this solution in the highest levels of data security and brought it to market at a price that, while higher than basic file sharing, is much less than what is charged by VDR industry leaders.

Firmex offers all the features of traditional players:  

  • Simple drag and drop upload
  • No plug-in’s
  • Restrict saving & printing
  • Dynamic watermarks
  • Expire access to documents, even after downloading
  • Versioning
  • Modern & mobile interface
  • Industry leading security credentials
  • Track & audit document and user activity
  • 24/7 one-call-fixes-all support from the award winning in-house team
  • Initial data migration & employee training

 

Addition features aimed at creating a frictionless due diligence:

  • Check security settings with View As
  • Upload via email with Email In
  • Import due diligence request lists
  • Advanced QA module
  • Smart Upload with folder merger
  • Compliant with EU Data Protection Directive
  • Compliant with UK Data Protection Act

Firmex-Clients

Firmex works with many of the leading investment banks, law firms, and businesses in the world to keep their confidential information secure.

From Firmex Clients:

“In looking for solutions with regards to setting up a data room, I came across various products and service offerings. Firmex was by far the best product for the best price. After signing up, we were not disappointed. The product is powerful, extremely flexible and easy to grasp and use. Furthermore, the staff are friendly and willing to help with ANY issue at ANY time. It is the perfect solution for safely sharing large amounts of documents among various users with different levels of access.” – Michael Burt, Forbes Mergers & Acquisitions

“An intuitive application backed by a fiercely enthusiastic support team. Firmex is one of my favorite applications to promote and use within our organization.” – Christopher Cascanette, Dentons

“This is a must have tool for anyone that shares significant volumes of information.” – Todd Kemp, Concentra Financial

“ I love that support answers the call or calls you back within a few minutes. Proven repeatedly.” – Bradley Turcotte, Gardiner Roberts LLP

“Excellent tool for data room management – sell side.” – Leonardo Azevedo, Habber Tec

Firmex Overview

Firmex-banner

Firmex is more than just a data room because the platform provides a full feature set of solutions to get deals done. Firmex offers exceptional sharing features, deal management tools, customer support, and security.

Firmex allows companies to stay in control of their confidential information. The need for collaboration across departments, regional offices, or with third parties means sharing large volumes of documents. With so many files exchanging hands during deals, confidential information can easily be compromised, so the Firmex solution specializes in these types of transactions.

  1. Due diligence
  2. Fundraising
  3. Corporate litigation
  4. Document collaboration
  5. Client and investor communications

Clients are extremely satisfied with the simple solution that saves time and resources to complete business transactions.

Clients are not the only people that are impressed with Firmex. The company has received a number of awards and honors that recognize fast growing technology, media and telecommunications companies.

  • #13 in Deloitte’s Technology Fast 50 in 2014.
  • #93 in Deloitte’s North American Technology Fast 500 in 2015.
  • Gold Stevie® Award for Customer Service Department of the Year in 2014
  • Bronze Stevie® Award for Company of the Year (Computer Services) in 2015

Focus on Security

Firmex works with many enterprise level companies that require significant security measures. However, with all the Firmex security features, perhaps the most appealing step is the ongoing risk assessment.

Firmex provides continuous security assessments to stay aware of new threats and will adapt security measure to prevent these threats from affecting client data. The world-class security measures include multiple levels of security to ensure the safety of business documents, along with standard certifications, such as:

  • Biometric safeguards at onsite data centers
  • Customizable DRM for all documents
  • Customizable access settings for all users
  • HIPAA Certification verified at highest of three levels of privacy, security and breach notification assessments
  • SOC 2 Compliance for handling financial information
  • Compliant with EU Data Protection Directive
  • Compliant with UK Data Protection Act
  • SAS70 Type II Compliant
  • CSAE3416 Compliant

Additional Security Measures

  • Incorporates leading encryption technology with 256-bit AES SSL/TLS encryption for data in transit and at rest
  • Utilizes multiple data centers for disaster manager and data recovery best practices
  • Leverages multiple firewalls at every point of data transit to prevent, detect and stop intruders
  • Standard two-factor password authentication to eliminate effects of password theft

Firmex virtual data rooms keep data locked in the same secure data centers utilized by major banks and other financial institutions around the world.

Focus on Service

Firmex built its reputation on customer service, providing in-house support for all customers, with dedicated representatives available 24/7/365. With tens of thousands of deals under their belt Firmex claims that you won’t just get anyone – you’ll get an expert who understands your needs.

The results speak for themselves, as Firmex reports that clients safely transfer over 2 million documents every month with their software.

In order to help support so many transfers, Firmex fosters seamless integration to help companies leverage existing business processes. Firmex makes virtual data rooms customizable so businesses feel at home with numerous features designed to integrate the Firmex platform directly into the company business infrastructure.

Firmex-Interface

Focus on Features

From custom branding to the Firmex API, there’s virtually no limit to how much or how many ways companies can tailor the way they choose to use Firmex to meet their needs. The intuitive and powerful features offer managers control mixed with peace of mind, which include:

  • Customizable document permissions to control who can view each document, how they can access it and how long they can view it
  • Ability to disable save, print, copy, share functions to protect documents
  • Dashboards and reporting tools to know when users access documents
  • Simple user management to add users, set access levels and assign permissions
  • Control documents based on IP address or specific computer
  • Remotely revoke and/or expire access to any and all documents

Firmex focuses on customer service and ease of use at the administrator level, which makes project management easier. Firmex includes both the standard features and most of the extras of traditional VDR players, making it useful for organizations of all sizes.

Additionally, Firmex attempts to provide a pricing structure that makes sense. The plans offer unlimited users, projects, pages and data storage at a fixed price without any hidden fees. The fixed rate pricing targets the middle market and mid-size or enterprise businesses.

Firmex-Compare

Firmex vs The Rest

With Firmex you get the best of two worlds, a feature rich data room, and a reasonable pricing model. That alone should put it in your consideration set, however when you take into account its world class customer service (seriously ask around about their support) and its ease of use they are hard to beat.  

Where Firmex loses out is on the bells and whistles. It currently lacks deal marketing, calendaring, and broad spectrum enterprise level document management. None of these are needed to successfully complete deals, but some buyers may want these extras.

In the end it is their laser focus that has lead to such an intuitive application. Layer ease of use with bank grade security and world class support you end up with a best in class solution. If you are in the market for a data room, definitely contact Firmex.  You will be hard pressed to find a better data room provider.