Datasite Diligence Virtual Data Room vs. Firmex Virtual Data Room

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Datasite Diligence Virtual Data Room
Score 9.3 out of 10
N/A
Datasite Diligence is a sell-side virtual data room offering rigorous security and seamless collaboration. Users can categorize and redact with AI, track tasks, answer questions, and analyze progress.N/A
Firmex Virtual Data Room
Score 6.7 out of 10
N/A
Firmex in Toronto offers a Virtual Data Room touting bank level security and customizable DRM, as well as two-factor password access and authentication and compliance with strict international privacy laws (e.g. HIPAA, SOC 2, UK Data Protection Act, etc). Beyond this the VDR offers tracking and versioning, dynamic watermarking, and other security and collaboration features.N/A
Pricing
Datasite Diligence Virtual Data RoomFirmex Virtual Data Room
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Datasite Diligence Virtual Data RoomFirmex Virtual Data Room
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details——
More Pricing Information
Community Pulse
Datasite Diligence Virtual Data RoomFirmex Virtual Data Room
Considered Both Products
Datasite Diligence Virtual Data Room
Chose Datasite Diligence Virtual Data Room
Our primary VDR provider is Firmex. We like its UX, pre-post customer care experience, and overall ease of usability.
Chose Datasite Diligence Virtual Data Room
Datasite is more optional than most other data rooms and is simpler to use.
Chose Datasite Diligence Virtual Data Room
The indexing, file structure and document viewing are better in Datasite than each of the others. It's also easier to download or open documents in a new tab (vs. in browser) and easier to search and do targeted bulk downloads in Datasite.
Chose Datasite Diligence Virtual Data Room
Much easier to navigate folders and data within the specific projects. The data rooms mentioned above sometimes only allow for one download at a time which significantly bogs down our team members. Datasite does a great job of allowing users to quickly review and download data …
Chose Datasite Diligence Virtual Data Room
Datasite Diligence Virtual Data Room was more user friendly
Chose Datasite Diligence Virtual Data Room
The 'structure' on Datasite Diligence Virtual Data Room is more organized and easier for viewers and use.
Chose Datasite Diligence Virtual Data Room
They are all very similar. Straightforward use case. The most important factor is price. We usually go with the cheapest option of the same vendor as the client. No site has a better function than the other. The sites and data rooms all work as intended to help manage the M&A …
Chose Datasite Diligence Virtual Data Room
I always prefer Datasite Diligence Virtual Data Room because of the user interface and ease of use. It provides the most seamless experience out of all of them and removes any concerns that the data room will cause us any challenges in the process.
Chose Datasite Diligence Virtual Data Room
I think Intralinks is the closest competitor. Relative to the rest of the providers (outside of Intralinks), Datasite Diligence Virtual Data Room is easier to use and more reliable.
Chose Datasite Diligence Virtual Data Room
I prefer Firmex. They have a strong search function and a user interface that makes it easy to identify new documents. Merrill is robust and offers the same basic tools, but I find its interface less intuitive.
Chose Datasite Diligence Virtual Data Room
Most of the time we do not have an option to select one data site over the other -- that's chosen by the target internally, and the lawyers just have to use it. Most of the major data room sites tend to have pretty similar features, so while I think Merrill DatasiteOne is …
Firmex Virtual Data Room
Chose Firmex Virtual Data Room
I think Firmex stacks up well with Merrill DatasiteOne, and I do not really have a preference between the two. Likewise, there are other data room services out there, and the good ones generally work pretty much the same, and I do not really have a favorite (this coming from …
Chose Firmex Virtual Data Room
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 …
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User Ratings
Datasite Diligence Virtual Data RoomFirmex Virtual Data Room
Likelihood to Recommend
9.2
(36 ratings)
10.0
(2 ratings)
Likelihood to Renew
9.1
(2 ratings)
-
(0 ratings)
Usability
8.9
(34 ratings)
-
(0 ratings)
Availability
9.1
(1 ratings)
-
(0 ratings)
Performance
9.1
(1 ratings)
-
(0 ratings)
Support Rating
8.6
(3 ratings)
-
(0 ratings)
Implementation Rating
9.1
(1 ratings)
-
(0 ratings)
Configurability
9.1
(1 ratings)
-
(0 ratings)
Contract Terms and Pricing Model
9.1
(1 ratings)
-
(0 ratings)
Ease of integration
9.1
(1 ratings)
-
(0 ratings)
Product Scalability
9.1
(1 ratings)
-
(0 ratings)
Professional Services
9.1
(1 ratings)
-
(0 ratings)
Vendor post-sale
9.1
(1 ratings)
-
(0 ratings)
Vendor pre-sale
9.1
(1 ratings)
-
(0 ratings)
User Testimonials
Datasite Diligence Virtual Data RoomFirmex Virtual Data Room
Likelihood to Recommend
Datasite
Datasite is well suited for organizing large quantities of a variety of documents into folders. It is not as well suited for Xcel, which generally requires downloading in order to review, but there are quick preview options for Word and PDF items.
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Firmex
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.
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Pros
Datasite
  • User-friendly interface. We download datarooms for a single deal over 30+ times per deal (as the dataroom gets updated), so the interface being easy to access / navigate is extremely important.
  • Features: Datasite Diligence Virtual Data Room gives great tools beyond just downloading a dataroom. Easy notifications when something gets downloaded, two factor authentication, ability to search data room or filter for recently uploaded files, etc.
  • Organization: A lot of data rooms do not allow you to keep organized file paths. When you download a dataroom it often looses all the index folder names. Datasite Diligence Virtual Data Room keeps files extremely organized and is always available.
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Firmex
  • Status updates
  • Visual display
  • Organization capabilities
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Cons
Datasite
  • Major feature I noticed in other datarooms that's missing in Datasite Diligence Virtual Data Room is bulk download feature. I can select multiple files/folders under a parent folder, however, I would like to be able to download selected files/folders from among multiple folders.
  • Another feature I'd love to see is a "New*" menu item in Q&A, just like we have in the Documents section correctly. I know I can still use the date to filter the latest answered questions, but having the "New" option makes it a lot easier to do a quick filter. My idea is that this option will show all activity that I haven't looked at since my last login, irrespective of date.
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Firmex
  • 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.
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Likelihood to Renew
Datasite
It is my go to data room provider and I am super comfortable using it. I don't think I would want to use anything else since I can't trust them like I can trust Datasite
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Firmex
No answers on this topic
Usability
Datasite
Tough to figure out at first but after using the platform for some time, you can get used to Datasite Diligence Virtual Data Room pretty quickly. Would be great to have more of a tutorial up front to better be able to navigate the software, especially starting off as the data dealt with is sensitive.
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Firmex
No answers on this topic
Reliability and Availability
Datasite
Great customer service and prompt responses to requests.
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Firmex
No answers on this topic
Performance
Datasite
Files download and upload very quickly.
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Firmex
No answers on this topic
Support Rating
Datasite
Customer service has always solved my issues in a relatively short period of time.
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Firmex
No answers on this topic
Implementation Rating
Datasite
Excellent product and resource.
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Firmex
No answers on this topic
Alternatives Considered
Datasite
The indexing, file structure and document viewing are better in Datasite than each of the others. It's also easier to download or open documents in a new tab (vs. in browser) and easier to search and do targeted bulk downloads in Datasite.
Read full review
Firmex
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
Scalability
Datasite
There is a bulk download, and it appears there is a bulk upload which makes it easier to get multiple files onto the platform when needed.
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Firmex
No answers on this topic
Professional Services
Datasite
As a professional services provider that leverages Datasite Diligence Virtual Data Room, Datasite is very helpful and useful.
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Firmex
No answers on this topic
Return on Investment
Datasite
  • Allows my organization to quickly identify new data that has been uploaded in order to quickly communicate status to clients.
  • No limits on number of files or file sizes which make it a great tool for any deal, large or small.
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Firmex
  • 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.
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ScreenShots

Datasite Diligence Virtual Data Room Screenshots

Screenshot of Mobile - To keep things moving while on the goScreenshot of Analytics - For tracking deal progress from every angleScreenshot of Q&A - Bringing order to a cumbersome processScreenshot of Redaction - For redacting (and unredacting) with confidenceScreenshot of Search / Artificial Intelligence (AI) - Transforms data into actionable informationScreenshot of Trackers - Consolidate Excel checklists