What is Firmex?
Firmex is a Toronto-based company that focuses on providing virtual data solutions to a wide range of businesses. Their estimated yearly revenue oscillates around $20M while employing between 51-200 workers. Since 2006, Firmex ensures the sharing of confidential documents conveniently and securely.
As a virtual data room provider, Firmex’s focus has always been on protecting their clients’ files and making sure that they are easily accessible to authorized personnel.
The main features offered by a Firmex VDR are document management, data security, user invitations, user activity logs, and reporting. They provide these unique benefits to businesses using their software solution:
- Two-factor authentication
- User access management
- Email upload
- Drag-and-drop upload
- Version control
There are a couple of ways to gain access to a Firmex data room. The company’s most popular service subscription is its annual package, but it also offers shorter-term packages. Unfortunately, the latter is less flexible, and here is why.
First, Firmex doesn’t provide plans shorter than three months or a drive capacity with less than 1GB of storage capacity. If a company needs an archive backed up and stored on a USB stick, an additional $250 fee is assessed — plus $50 for shipping. Furthermore, each additional USB copy incurs another $130 charge.
Firmex offers various plans for fixed-timeframe projects. Subscriptions can be purchased for plans of between 3-9 months and include unlimited internal and external users and one data room space.
- 3-month plan includes 1 GB of storage: $2,500
- 6-month plan includes 1 GB of storage: $4,000
- 9-month plan includes 1 GB of storage: $5,500
Every additional MB costs $1.
There is also a second model, which is not limited to a monthly contract but rather assumes ongoing cooperation on multiple projects. The annual-subscription package is based on the number of internal licenses (users within the same corporate domain) and the number of GB required. The Firmex cost structure provides you with:
- A branded site
- 24/7 support and scheduled training sessions
- Q&A capabilities
- Firmex redactor services
- Drag-and-drop documents and folders
- Group permissions
Firmex is a virtual provider that boasts many features tailored to M&A deals, governance, and sensitive data handling. It offers convenient pricing plans that respond to the needs of a variety of companies, no matter how small or large. Their free trial provides the opportunity to test their software solution before committing a subscription.
Firmex free trial
Firmex offers a free trial to subscribers. During the two-week trial, you will have access to 1GB of storage space and the ability to host 10 users. Additionally, the Firmex team provides you with a personalized training session.
Firmex support and deployment
The company offers 24/7/365 multilingual support for its customers. Your data is archived so you can restore documents should you need it. Furthermore, if a more complex issue arises, the support team will help train your workers to navigate through their virtual data room software.
Firmex provides its users with a downloadable app for Apple users — unfortunately, there isn’t an Android equivalent available. There are no direct chat options on the site, and to report a problem, you would need to fill out a form. The absence of a dedicated Android app and the complexity of connecting with support are the main setbacks of using the Firmex data room software.