Firmroom has received a total of 150+ reviews across various platforms, with an overall rating of 4.2 out of 5. Reviews can be found on platforms such as G2, Capterra, and Trustpilot.
- Trustpilot: 4.1/5 (30+ reviews)
- G2: 4.6/5 (21+ reviews)
- Capterra: 4.6/5 (44+ reviews)
What is Firmroom?
Firmroom is a virtual data room (VDR) solution owned by DealRoom, designed to facilitate secure document sharing and collaboration for businesses. It is commonly used in scenarios such as mergers and acquisitions, fundraising, and due diligence processes. Firmroom provides a centralized platform where users can upload, manage, and share sensitive documents while maintaining strict control over access and permissions. With features like document tracking, user permissions, and secure file sharing, Firmroom aims to streamline workflows and enhance security for organizations handling confidential information.
Firmroom Reviews Highlights
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User Interface: Users have noted that "the system simply worked," although some have mentioned that the email notifications can be overly prominent, obscuring important data.
"The system simply worked although have my email so darkly plastered over the data did obscure it a little."
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Trial Period: Many users appreciate the "good 14-day trial," but some feel that the platform does not justify its monthly price compared to competitors that offer better functionality and protection.
"Good 14 day trial. Nowhere near good or efficient enough to command the monthly price point when other competitors have better data rooms, functionality and protection."
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Customer Support: A common positive sentiment is that "where FirmRoom really shines is the customer support." Users have praised the responsiveness and helpfulness of the support team, stating, "A real live human being is happy to talk to you on the phone and help get things set up."
"Where FirmRoom really shines is the customer support. A real live human being is happy to talk to you on the phone and help get things set up."
Negative Firmroom Reviews
While Firmroom has its strengths, several users have pointed out significant drawbacks:
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Permissions Issues: Users have expressed frustration with the permissions settings, noting that
"It seems like an error message or warning should have shown up when the permissions were set."
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Search Functionality: Some users have mentioned difficulties in finding materials, particularly when using it for due diligence projects. One user stated,
"Using it for due diligence projects and I dread having to search for my materials."
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Bulk Download Limitations: A notable complaint is the inability to perform bulk downloads when the watermark feature is enabled, especially for PPT or XLS files. One user remarked,
"My only complaint is not being able to do a bulk download when the watermark feature is turned on and there are PPT or XLS files in a folder."
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Notification Improvements: Users have suggested that updates could be improved with better notifications, as one user mentioned,
"was fine. updates could be improved with better notifications."
If you're looking for an alternative to Firmroom, consider Papermark. Papermark offers a flexible and customizable virtual data room solution with competitive pricing and a focus on user experience. Papermark rating is 4.9 according to user reviews.
Good Firmroom Reviews
Despite the criticisms, many users have shared positive experiences with Firmroom:
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Ease of Use: Users find the platform user-friendly, with one stating, "It's easy to work with, it's user-friendly and always good tips on how to use the room more usefully."
"It's easy to work with, it's user-friendly and always good tips on how to use the room more usefully."
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Cost-Effectiveness: The low cost of Firmroom is appreciated, especially for infrequent users. One user noted, "Additionally, the low cost of the FirmRoom product is great for a company like mine that will use it about once per quarter."
"Additionally, the low cost of the FirmRoom product is great for a company like mine that will use it about once per quarter."
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Responsive Support: Many users have highlighted the effectiveness of customer support, stating, "The customer support is very responsive and I have always had my issues resolved."
"The customer support is very responsive and I have always had my issues resolved."
Missing Features in Firmroom
Despite its strengths, Firmroom has some missing features that users have pointed out:
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Advanced Reporting Tools: Users are looking for more comprehensive reporting capabilities to analyze document engagement and user activity.
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Integration with Third-Party Apps: There is a need for better integration options with popular tools like CRM systems and project management software to enhance workflow efficiency.
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Mobile App Functionality: Users have requested a more robust mobile application to facilitate access to documents while on the go.
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Custom Branding Options: The ability to customize the branding of data rooms is desired to align with corporate identities.
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Commenting and Collaboration Features: Users have noted the absence of commenting features on documents, which limits real-time collaboration among team members.
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User Permissions Granularity: More detailed control over user permissions is requested, allowing for specific access levels such as view-only or edit permissions.
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Enhanced Notification Settings: Users want more customizable notification settings to keep track of document updates and activities effectively.
Firmroom Pricing
Firmroom's pricing structure is tiered based on features and the number of users:
- Basic Plan: Starting at $400/month, this plan includes essential features but may not provide sufficient value for smaller teams.
- Professional Plan: Priced at $800/month, this plan adds advanced features but raises concerns about whether the cost is justified.
- Enterprise Plan: Custom pricing is available for organizations needing extensive features and dedicated support.
For more detailed pricing information, visit the Firmroom pricing page.
Firmroom Use Cases
Users commonly utilize Firmroom for various purposes, including:
- Mergers and Acquisitions: Facilitating secure document sharing during due diligence processes.
- Fundraising: Providing potential investors with access to sensitive financial documents.
- Real Estate Transactions: Sharing property documents securely with buyers and sellers.
- Legal Document Management: Storing and sharing legal documents securely among stakeholders.
- Corporate Governance: Managing board meeting materials and sensitive corporate documents.
In conclusion, while Firmroom offers some useful features, its limitations may lead users to seek alternatives. For those looking for a more customizable and cost-effective solution, Papermark Data Rooms presents a compelling option worth considering.