Firmex keeps versatility as the primary goal. That’s why this data room provider is suitable for all industries. However, it is mostly suited for Merger and Acquisition deals, and even the pricing model shows that. You can choose an unlimited subscription if you go through deals frequently. But if you take part in Mergers and Acquisitions rarely, you can save lots of costs by opting for the plan that allows you to pay for each transaction so that you have a data room on-demand. Also, you will not experience any bills you didn’t anticipate as this vendor doesn’t have any hidden costs.
The data room itself is intuitively understandable and easy to use. The interface is intuitive, and even first-timers will not have issues trying to understand all the features. But if someone faces the challenge, the support team is always out there ready to step in 24/7. The experts of Firmex will guide you through all the details and explain everything you want to know.
Only the necessary features
While the simple interface is one of the main advantages of Firmex, we should say that it’s fairly easy to keep things uncluttered when there is nothing to create the clutter with. This virtual data room provider offers only the most essential tools a business needs to go through a Mergers and Acquisitions deal. Some users might consider Firmex a bit outdated, especially comparing it to all the other providers who enhance their software with artificial intelligence and other modern technologies. But this vendor is popular enough for us to trust that many businesses find this set of features sufficient for their M&A needs.
Users can upload files in bulk using the drag and drop feature. The data room will index all the documents and folders automatically. The upload speed of Firmex is very high, so you won’t waste much time assembling your data room. There is a version control feature that accelerates and simplifies collaboration since no one needs to look for their latest drafts or specific versions. And in the future, you can copy the project to get ready for a new deal without hassle.
Accelerate the teamwork
No data room will be useful without collaboration tools. Firmex offers a Q&A module where participants can exchange questions and answers quickly. And to ensure that the collaboration remains safe, the owner of the data room can set different permissions to control the levels of access others have.
Firmex is compatible only with iOS devices, unfortunately. So Android owners remain left out.
Receive insightful reports
A business needs to analyze its activity and create new strategies based on the experience. Firmex virtual data room provides companies with simple dashboards and reports that display detailed information about the activity of participants of the deal. The stats show the time when a user logged into the data room, files they accessed, and actions they performed with those documents. This can give a business some hints on what to do next for the deal to be successful.