Likelihood to Recommend Firmex Virtual Data Room is well suited to complex mergers and acquisition transactions. For example, we recently used it when acting for a potential purchaser involved in an auction transaction for a business unit worth approximately $1 billion. In that scenario, the vendor uploaded all of the documents to the data room and each of the bidders (and each of their lawyers, outside accountants, etc.) had access to the same documents. There were over 1000 documents uploaded to the data room (the index was around 100 pages I think), so it was a good way of managing such a large volume of documents, and such a large volume of users.
Read full review Sometimes we just need to send a single large file, and compressing it is easier than using ShareFile. But generally, we use ShareFile to exchange or send anything over 20 MB. A problem that we have not had [yet], but wonder about is this: Are ShareFile and its e-mailed links safe for transmission to/from U.S. Government computers? All of our public-sector clients are state and locality-based. We haven't had any interacton with U.S. entities. U.S. entities, especially DOD, are rather particular about these type of file-sharing sites and links embedded inside e-mails.
Read full review Pros Status updates Visual display Organization capabilities Read full review Authenticated electronic document signatures--self-signing, and sending out for signatures. This is a robust feature that also allows for additional information to be added to documents being sent for signatures, such as dates, notes, and items omitted but needed. Encrypted emails through ShareFile, Citrix apps for Outlook, Gmail, and Mac email systems. Encrypted email messages cannot be cut/pasted, nor forwarded without encryption. If only the attachments need to be encrypted, the email message can be unencrypted. Also, two options for securely opening an encrypted email (one with less credentials, one with more). Read full review Cons This is a bit of a stretch, because as far as I know, no data room provides this, but I think it would be interesting if they added a feature to manage supplemental due diligence requests. In almost every transaction I've been involved with, the buyer has supplemental due diligence requests, either because the seller did not want to provide a document or because they did not think it was sufficiently material (or they just forgot!). These supplemental requests get handled separately, using a Word or Excel document, but I think it would be nice if it could be handled directly in the data room. The reason this would be handy is that you could include dynamics links in the questions (Page 2 is missing from Document 1.1.2 - and then there is a link right to Document 1.1.2) and in the answers (See Document 3.3.4 for the missing financial statements - and then there is a link right to the missing document). This is partly on the users, but I do not like it when a data room allows you to delete a document without there being an ongoing reference to the deleted document. It makes it hard for the other side (the purchaser) to keep straight the numbering of the due diligence documents. At a minimum, the software should just keep the numbering of the documents the same with an "Intentionally Deleted" next to the deleted document. Read full review Users grow quickly (each client gets a separate account). Automated pruning would be nice. I'm not aware of integration with Office365 online (only the outlook app). This could make it harder for some users. It would be nice to have something that auto-scans emails and attachments for PII and would require Sharefile for those emails. Read full review Likelihood to Renew The cost is fair and the program does what it has promised to do. Customer service is attentive. I'm not aware of any better-sounding file sharing systems out there that would tempt us to discontinue ShareFile.
Read full review Usability ShareFile is so easy to use I was able to download all of my projects files and have them set up to sync before my supervisor could even come over to explain the process to me. It is a neatly organized and intuitive software that allows even the less tech-savvy to become power users.
Read full review Reliability and Availability The software has never been down when I needed to use it.
Read full review Performance Easy to use, easy to integrate with Outlook. I only gave it a 9 because I have found that sometimes it does not play nicely with Outlook and can slow it down. But, when that happens (not frequent), I restart Outlook and all is well again
Read full review Support Rating Typically the support is very knowledgeable and interested in following an issue until it is fully resolved. I have not had any issues working with their staff as they are all polite and easy to communicate with. If the first or second level tech does not fix the concern then it is escalated until we get to someone who can close the case.
Read full review Implementation Rating Good documentation for the API. With a little help from RS tech staff, any competent programmer should be able to integrate RightSignature with an existing system in a week or three. That help is easy to get as well
Read full review Alternatives Considered I think Firmex has one of the best visual displays -- I like its basic user interface a lot. It's easy to recommend that clients use it who have no prior datasite experience because they onboard quickly. It is far more intuitive than
Dropbox and has more organizational capabilities. Merrill is a close competitor as it also offers a sleek design and user friendly interface.
Read full review ShareFile is easier and does what you need. I have moved a few organizations from SharePoint to ShareFile. Just easier. You can setup different areas for different departments, setup their permissions and it is easy enough for them to do what they want in their zones. The mobile app works great as well. So you can all the features you really use from SP, but just easier to setup and use.
Read full review Scalability I am a one person office. I have no idea how this software would scale to a larger office.
Read full review Return on Investment Positive impact on conducting due diligence efficiently. Positive impact on being responsive to fast-moving transactions because of the e-mail updates when new documents get uploaded. Read full review It's been huge in allowing our freelancers to upload a doc or email comp into the system and initiate a workflow so that those inside the organization can provide feedback without the need of staying on top of emails/messages. It's all located in one place. The time suck from the previously-mentioned annotations issue has caused me to lose some productivity as I have to 'wait my turn' to drop in an annotation, then have it removed, and re-attempt multiple times. Not a huge impact on ROI, but it does affect productivity. From the product side, it is helpful for me to reference what the content will be on our website before the page goes up, as well as the copy we send to our retailers who resell our products. Our marketing lingo stays even across all touch-points because of ShareFile. Read full review ScreenShots