Dropbox DocSend vs. Firmex Virtual Data Room

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Dropbox DocSend
Score 8.6 out of 10
N/A
DocSend is a secure file and document sharing solution that gives users analytics and control on sent documents to see who opens documents, who they forward them to, and how long they look at each page. Users can turn off access, password protect, or set an expiration at any time. DocSend integrates with SalesForce as well as Box, Dropbox, Google Drive, and OneDrive. Use cases include investor relations, board management, and similar transactions where secure sharing is required. Additionally,…
$10
per user/per month
Firmex Virtual Data Room
Score 7.0 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
Dropbox DocSendFirmex Virtual Data Room
Editions & Modules
Personal
$10
per user/per month
Standard
$45
per user/per month
Advanced
$150
per month
Enterprise
Contact sales team
No answers on this topic
Offerings
Pricing Offerings
Dropbox DocSendFirmex Virtual Data Room
Free Trial
YesNo
Free/Freemium Version
YesNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Dropbox DocSendFirmex Virtual Data Room
Top Pros
Top Cons
Best Alternatives
Dropbox DocSendFirmex Virtual Data Room
Small Businesses
SugarSync
SugarSync
Score 10.0 out of 10
M‑Files
M‑Files
Score 9.2 out of 10
Medium-sized Companies
M‑Files
M‑Files
Score 9.2 out of 10
M‑Files
M‑Files
Score 9.2 out of 10
Enterprises
M‑Files
M‑Files
Score 9.2 out of 10
M‑Files
M‑Files
Score 9.2 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
Dropbox DocSendFirmex Virtual Data Room
Likelihood to Recommend
9.4
(22 ratings)
10.0
(2 ratings)
Support Rating
8.0
(1 ratings)
-
(0 ratings)
User Testimonials
Dropbox DocSendFirmex Virtual Data Room
Likelihood to Recommend
Dropbox
DocSend works really great if you want to send out a doc to a prospect and want to track when they open it and what content they view. The reporting on this works really well and I've been happy with this functionality. Where it falls short is when you're trying to use it for a live demo utilizing the join.me integration. There are a lot of issues when you try to switch your screen and it only works 2/3s the time. I'd prefer an all-in-one solution instead of this Frankenstein model.
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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
Dropbox
  • Additional information from users who have already downloaded the files or material.
  • Additional information if the download link(s) have been resent.
  • Password encryption if necessary.
  • Email verification for third-party download via email.
  • Add-ons with other platforms and applications, such as Outlook and Gmail.
  • Seal of documents by electronic signature
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Firmex
  • Status updates
  • Visual display
  • Organization capabilities
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Cons
Dropbox
  • DocSend has a newer feature called Spaces, it lets you place multiple files into a single "deal room". Unfortunately for us, we need it to support nested file structures for larger content sets. Their support team says this is on the way.
  • I'd like to be able to change the icons for links add to Space, currently, they're a default icon.
  • Navigating the UI is just a bit laborious, it feels like it should be easier to get to link creation since that is what you're doing 90% of the time you go to the site.
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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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Support Rating
Dropbox
I haven’t used the support as our internal teams do a great job of fixing and supporting our DocSend use.
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Firmex
No answers on this topic
Alternatives Considered
Dropbox
DocSend is more convenient than DocuSign if you are already using Dropbox, otherwise a lot of these solutions come down to pricing and preference on user interface. For us, DocSend was great until our needs changed to needing a more sophisticated contract management tool. With further integrations and API accesses in the future, I think it will be easier to have all systems communicating and working together .
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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.
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Return on Investment
Dropbox
  • For about $100 you can optimize all
  • Of your pipelines that rely on decks or documents - worth it!
  • The time you’d spend having to send each link to individual clients without tracking is well worth the $100 on the product
  • We’ve been able to close our fundraising round and increase partnerships by utilizing DocSend - would recommend!
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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

Dropbox DocSend Screenshots

Screenshot of