Firmex Data Room

4.30/5.0

Typical customers:

  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises

Seller: Firmex Inc.

Year Founded: 2006

HQ Location: Toronto, Canada

Free Trial: No

Demo: Yes

Multilingual: No

Not provided

Firmex Data Room review

Firmex is a virtual data room provider that serves over 140,000 businesses worldwide. The company claims to open 20,000 new data rooms each year. Headquartered in Toronto with offices in London, it has been offering its services since 2006.

The company specializes in a single service – virtual data rooms. However, Firmex claims to provide a solution that suits 10 industries, including real estate and investment banking. In addition it is worth noting that the company offers services in English and French.

Firmex’s pricing is not published on its website, but a company representative can provide you with a customized quote. The price depends on the number of users and storage capacity. The company offers two payment models — monthly subscriptions and per project. Additionally, there is a 14-day free trial for up to 10 users and 1 GB of storage. 

Firmex’s VDR is suitable for all-sized businesses.

Rating:
4.30
Fair

Deployment

Firmex’s virtual data room is available as a browser-based application and a mobile version for iOS.  Download Firmex’s “Document Exchange” for Windows to upload large quantities of files efficiently. Unfortunately, there is no mobile application available.

The provider also offers an “Email In” feature, which allows registered users to upload files to the data room by sending an attachment via email. It is available on all devices, allowing team members to send documents without logging into their Firmex accounts.

This virtual data room comes with highly-adaptive interfaces, allowing users to tailor the app based on their needs. Simultaneously, the VDR can be integrated with your company’s IT systems and business workflows. Custom branding is also available, allowing businesses to individualize the solution.

Setting up Firmex’s VDR is quick and easy and normally only takes a few minutes — fully integrating and customizing the software solution with your business can take a bit longer.

Deployment:
  • Web-access
  • iOS
  • Android

Support

The technical support team at Firmex is available 24/7/365, including weekends and holidays. You can contact a specialist via phone call, email, or live chat. There are three phone numbers available for North America, Europe, and the rest of the globe. The team speaks English, French, German, and Spanish. All services are GDPR-compliant.

The Firmex Knowledge Base covers platform usage and frequently asked questions (FAQs). It includes articles, screenshots, and videos that cover and help solve major issues — use the search panel to find your topic.  Additionally, Firmex support specialists are always available online to help with other issues, understand features, and cover other product-related questions. 

The company also provides free unlimited employee training focused on user groups or specific topics. This helps teams to understand the virtual data room better while simultaneously providing an opportunity to ask questions.

Support:

24/7

Local Centers

Online Help Center

Personal Manager

Security

Firmex data room covers multiple security layers to ensure all data is protected. With various options to protect confidential data, the company is a suitable option for M&A due diligence and other business processes.

The first layer includes document features. For example, admins can customize permissions, disable copying and printing, edit access levels, set self-destruct timers, and edit information to comply with global regulations. Also, use the “View as” feature to check for appropriate settings. Basically, this level covers user and digital rights management. 

The second layer covers user access. The administrator can edit user permissions, set IP restrictions, establish advanced password control features, require users to set multi-factor authentication, and apply a single sign-on for easier management. All the data room’s features are customizable with a few clicks.

The third layer addresses the data room’s security. This security layer uses advanced reporting to track user activity and logs. Firmex also creates backups in an Amazon S3 region to ensure data is available regardless of any cataclysms. 

The company also conducts regular security audits like penetration tests and vulnerability scanning with independent third-party testers to ensure an unbiased view. Data security is additionally protected with TLS encryption. As a result, the provider’s data rooms have earned an A+ score for security.

The fourth and final layer focuses on certification and compliance. Firmex adheres to and complies with the following regulations:

  • GDPR
  • HIPPA
  • SOC 2 Type 2

As of 2022, there have yet to be any reports of a Firmex dataroom being hacked or facing a data breach. Therefore, it is reasonable to say that it is one of the most secure VDR providers.

Security Compliance:
  • ISO/IEC 27001
  • SOC 2
  • GDPR
  • HIPAA