Firmex Virtual Data Room Software Reviews

FrontRunners 2022

Review Highlights

Overall Rating

4.76

Ratings Breakdown

Secondary Ratings

Ease-of-use

4.5

Customer Support

5

Value for money

4.5

Functionality

4.5


Pros and Cons

  • icon"I like that it is user friendly and cost effective relative to alternatives. Also excellent customer service."
  • icon"I love the ease of setting it up. Other products have more features as far as downloading and tracking, but everyone does bulk downloading so it is irrelevant."
  • icon"The custom sharing platform which is secured and the visibility control for employees."
  • icon"Attaching a newer version of a document can be difficult at times due to having to change the file name manually."
  • icon"Importing and exporting documents can be problematic (e.g. files too large, titles too long)."
  • icon"Sometimes difficulty with users not receiving their invitation emails, the inability to assign different permission levels to different members within a group."

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All Firmex Virtual Data Room Reviews

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Anonymous

Company size: 11-50 employees

Time used: Less than 2 years

Review Source: Capterra

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

May 2019

Firmex

Pros

Ease of use is very good. Speed and customization are good as well.

Cons

Files are not tethered after bulk downloads which limits reporting on how guys are using files

Response from Firmex

Hi, We appreciate your review. With respect to your comment that, "Files are not tethered after bulk downloads which limits reporting on how guys are using files," Firmex's document protection options do indeed enable administrators to monitor and control documents after they've been bulk downloaded by a user. Depending on which document protection options are set (e.g., Lock To Computer or Expire Access), you should be able to see if and when a document was opened or printed on a user's computer. I'd be happy to hop on a call to demonstrate these features at your convenience. Thanks again for choosing Firmex, Kyle Bardsley Senior Director, Customer Operations & Growth

Replied June 2019

Anonymous

Company size: 11-50 employees

Time used: Less than 12 months

Review Source: Capterra

EASE OF USE

4

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

May 2019

Firmex meets expectations!

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

Replied June 2019

Jack

Company size: 51-200 employees

Industry: Financial Services

Time used: More than 2 years

Review Source: Capterra

EASE OF USE

3

VALUE FOR MONEY

3

CUSTOMER SUPPORT

5

FUNCTIONALITY

4

November 2022

Nexben Review

Pros

It allows tiered access, easy uploading, good customer support

Cons

Interface could look more up to date, the software is expensive

Reasons for choosing Firmex Virtual Data Room

Were using it before anything else

Response from Firmex

Thanks for the feedback on the ability to easily upload documents and the good experience you had with our support team. We are currently going through a platform software upgrade to give Firmex a more modern, up to date look. In terms of price, we aim to offer a top tier product at a mid-market price. Feel free to reach out if you'd like to discuss further.

Replied December 2022

Tony

Company size: 51-200 employees

Industry: Pharmaceuticals

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

3

VALUE FOR MONEY

4

CUSTOMER SUPPORT

4

FUNCTIONALITY

4

August 2022

Ease of Use

I rarely find extenal parties that have trouble with our data room. Overall very good.

Pros

Its easy to give external parties access to different data sub folders without haveing to set up a separate data room.

Cons

Developing reports is not intuititve. It takes me a while to get the information I'm lookign for.

Response from Firmex

Thanks for the great feedback on the folder level security as it is something not all VDR's can provide. I am curious to better understand what data you are trying to get out of the reports and what specifically are you looking to find. We provide many industry standard reports, but would be interested to know from your perspective what is missing. My email is james.lehuquet@firmex.com, feel free to reach out and we can connect you with our product team.

Replied November 2022

Tami

Company size: 51-200 employees

Industry: Law Practice

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

September 2022

FirmEx - User Friendly!

We have closings which allows parties to review documents as well as disclosure work which involves hundreds of documents that need to be shared. I love, love, love this product and if I could just be the FirmEx coordinator in our firm, I would! (I love detail work and organizing so I am a nerd when it comes to that!)

Pros

It is so flexible and easy to use in setting up a project to uploading to downloading.

Cons

The only thing that I would like to see if to be able to integrate with our document management system so that we do not have to export to our desktop - if there was a way to do this and be able to drag document over or to copy them into our worksite that would make this product top dog - but I understand why that may not be a possibility, but would be nice if there was a secure way to do so!

Reasons for choosing Firmex Virtual Data Room

Other firms have been using FirmEx so we decided if it was working well for them, why go after something different? It is nice to have something that many people are familiar with as well.

Lennart

Company size: 1 employee

Industry: Management Consulting

Time used: Less than 6 months

Review Source: Capterra

EASE OF USE

2

CUSTOMER SUPPORT

5

FUNCTIONALITY

3

October 2022

Excellent Customer Service & User Support

Pros

I like the easy access, but would like as a user to have more influence over the creation of folder and indexing of questions. The customer support is outstanding in the cases I have taken advantage of it 24/7/365!

Cons

Uploading of documents created in Office by a user directly.

Response from Firmex

Thanks for the feedback on the ease of use and how great our customer support team is as these are some of our competitive advantages within the industry. As for uploading documents by users directly, I would be interested to better understand this as it may be a user permissioning issue and not having access to upload. You can set folder level permissions to allow guest users the ability to upload to specific folders and not have full admin rights. Our support team would be able to walk you through this if needed.

Replied November 2022

Jacques

Company size: 2-10 employees

Industry: Insurance

Time used: More than 2 years

Review Source: Capterra

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

November 2022

Document storage and control.

Pros

1) The ability to easily control access rights at the project group, folder and/or individual file levels.2) Knowledgeable and responsive help desk.

Cons

I, and my users, have not identified any area for improvement. The tool is exactly suited to our needs.

Reasons for choosing Firmex Virtual Data Room

I personally did not participate in the selection, and cannot comment.

Response from Firmex

Thanks for the great feedback on your experience with Firmex, we appreciate you taking the time to leave a review.

Replied December 2022

Giulia

Company size: 11-50 employees

Industry: Pharmaceuticals

Time used: Less than 12 months

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

October 2022

User friendly data room affordable and with a great customer service. Top for medium size company

Good service for a good price

Pros

User friendliness- easy access and easy management

Cons

No for the purpose I was looking for. And Positive are also coming from users

Response from Firmex

We appreciate the feedback on the user experience and how easy it is to use. Great to hear the feedback you have received from other users and their experience.

Replied November 2022

Matthew

Company size: 11-50 employees

Industry: Management Consulting

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

November 2022

Firmex Data Room

I’ve been the administrator for roughly 6 Firmex Data Rooms, and I receive very few if any comments from users regarding issues. If there are, it’s usually on my end fixing access settings.

Pros

The security features that administrators are able to apply are also quite useful to maintain confidentiality.Management and user interface is clean and logical. It is easy for newer users to get used to which is useful for us as we are often working with many different clients.The reporting feature is also quite useful in managing users and documents.

Cons

Frequent login prompt is a downside. Having the ability to set the duration before being automatically logged out would be helpful.

Response from Firmex

Thanks for the feedback on the level of security our platform can provide to give you peace of mind when sharing confidential information, along with the minimal learning curve new users have when accessing Firmex. This is what we strive for. In regards to login prompt, it is something we have heard before but feel it is an appropriate timeframe to keep in order to maintain the level of confidentiality and security our platform provides. Happy to discuss further with you, feel free to reach out.

Replied December 2022

Mark

Company size: 51-200 employees

Industry: Information Technology and Services

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

April 2022

Firmex VDR

I am happy when others present their due diligence files to us in Firmex, as I am 100% comfortable with it/

Pros

i have used Firmex multiple times in my career as a CFO and as the Administrator of the VDR. I have mostly used in in an M&A due diligence VDR model. I find the software to be intuitive and easy to use. I have had very few users come back to me and not understand how they can gain access tot he files they need, so it is first time user intuitive as well.

Cons

On con is to ensure you set up the file structure correctly in the first instance, as it will impact the flexibility you need to create multiple group access restrictions.

Reasons for choosing Firmex Virtual Data Room

We chose Firmex as it was the leader in the market. Other options were not as flexible or had the controls we were looking for.

Response from Firmex

Thanks for the feedback on how intuitive and easy to use the platform is based on your experience. We do have the ability to drag and drop folder and documents to reorganize them if they are in the incorrect order. Our support team is 24/7 and always available for any questions you may have, I always encourage our clients to speak with our support team for any assistance needed. Feel free to reach out to me with any questions james.lehuquet@firmex.com. - James Le Huquet, Director of Sales

Replied April 2022

Paul

Company size: 1,001-5,000 employees

Industry: Banking

Time used: More than 2 years

Review Source: Capterra

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

January 2021

Easy to use, broad functionality software

Very positive experience. I think Firmex is easy to use and is my go-to data rom.

Pros

Very easy to upload and organize files, very easy to set permissions.

Cons

Possible could make the download function easier to use and more reliable.

Reasons for switching to Firmex Virtual Data Room

Easy to use and pricing

Response from Firmex

Paul, Thank you for taking the time to submit your review. We're happy to hear that you're having a positive experience using Firmex. We are continuously looking to improve our product and appreciate the feedback regarding downloads. The download function within the browser will email a zip file containing all of the requested documents, however if you'd like to download directly to your desktop you can use our desktop tool. If you have any questions or require assistance, please do not hesitate to contact myself or your Customer Success Manager directly. Of course, our 24/7 support team is always available to help. Jason - Director of Client Success https://support.firmex.com/hc/en-us/articles/206358288-Download-the-Document-Exchange-for-Desktop

Replied April 2021

Philip

Company size: 11-50 employees

Industry: Capital Markets

Time used: Less than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

April 2022

Firmex - Tradelogiq Review

Honestly this is the best data room I have used to date. I can’t believe intralinks is so big and yet their vdr is horrendous. I’m genuinely shocked by the lack of user friendliness of other data rooms, and the lack of permissioning options elsewhere. Firmex has the best permissioning and security features available.

Pros

Honestly the management of users and permissioning is really easy. Also the interface is intuitive. Intralinks is GARBAGE. I’m currently using intralinks on another deal it is impossible to permission users effectively.

Cons

I think maybe you could have alternative pricing schemes for deals that get delayed or have a regulatory component. This happened to us and our vdr needed to be used for much longer than originally intended. In any case more pricing options could have been useful.

Reasons for choosing Firmex Virtual Data Room

Referral through Laurence Rose. And now I’ll try to use firmex going forward on any deals.

Reasons for switching to Firmex Virtual Data Room

Notes above.

Response from Firmex

Thanks for the positive feedback, especially in comparison to one of our competitors which you are currently using. As for alternative pricing, we offer a fixed pricing, we try to accommodate our clients based on their needs. I would be happy to discuss with you how this particular example turned out price wise and what we can work on going forward. My contact information is james.lehuquet@firmex.com. Thanks again and I look forward to connecting. - James Le Huquet, Director of Sales

Replied April 2022

Kostas

Company size: 2-10 employees

Industry: Pharmaceuticals

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

July 2022

Firmex review

Excellent experience, the room can be used for file sharing, central data repository and also to provide access to external parties

Pros

Easy to use and organize. The data room serves its purpose 100%.

Cons

Permission aspects are sometimes difficult to assess/assign. Arrangement of folders sometimes is not that straightforward.

Response from Firmex

Hi Kostas, We appreciate the positive review on the platform and that it has been a great tool for your transactions. As for reviewing user permissions, we offer multiple different methods to do this whether it be at the group level or the folder level with our view as tool which allows you to see what folders have been hidden from certain groups. All our permission settings can be retroactively changed as well. If there is interest my support team can walk you through a training session on how to review permissions as well as arranging folders which is all done via drag & drop. James, Director of Sales

Replied July 2022

Emma

Company size: 501-1,000 employees

Industry: Law Practice

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

July 2019

User feedback

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

Replied July 2019

Huzaifa

Company size: 10,000+ employees

Industry: Financial Services

Time used: More than 2 years

Review Source: Capterra

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

January 2021

Easy to use and essential service for M&A

It is an essential service used for mid market m&a. Overall experience has been great, with exceptional customer service and ease of use

Pros

The reports available with the storage are very helpful in maintaining momentum and deal flow.

Cons

Attaching a newer version of a document can be difficult at times due to having to change the file name manually

Reasons for choosing Firmex Virtual Data Room

Better features

Response from Firmex

Huzaifa, thanks for review and your usage of Firmex. You may not be aware but we have version control within Firmex that allows you to upload an updated document, rendering it as a 2nd version of the original document. This also takes place once you have redacted a documents original version, it will show up as a 2nd version within Firmex. Here is a link to our document versions and a member of my support team would be happy to walk you through this feature as well. James - Director of M&A Coverage https://support.firmex.com/hc/en-us/articles/206337768-Document-versions

Replied April 2021

Stacy

Company size: 11-50 employees

Industry: Legal Services

Time used: More than 2 years

Review Source: Capterra

This review was submitted organically. No incentive was offered

EASE OF USE