Firmex Virtual Data Room vs. Oracle BPM Suite

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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Oracle BPM is well suited to organizations and environments that have a good understanding of their business processes and organizational structures. Trying to introduce a tool such as Oracle BPM into the organization without a good grasp on how the business operates is a recipe for disaster as the implementation will uncover all of the dirty secrets of an organizations business processes and bring them to light. BPM is not to be utilized for smaller service orchestrations or technical service implementations, these should be handled by the Oracle SOA Suite using the BPEL process manager, leaving BPM to handle the organizational business processes, referring to and including lower level services and BPEL processes as needed.

• Status updates
• Visual display
• Organization capabilities

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• Oracle BPM [Suite] can support unlimited number of cases. No limitations in cases raised.
• Oracle Weblogic can handle multiple traffic. [It] can handle lots of heavy load[s].
• Oracle BPM has extensive integration with database[s]. Huge number[s] of customization can be created.

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• 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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• Oracle BPM is left behind by other tools more modern in terms of user experience, usability and ability to integrate with everything else.
• To really harvest the potential of Oracle BPM you need to do it in JDeveloper and with ADF. This restricts its usage to very technical people.
• The administration of the Oracle BPM tools has really put a burden on our team. It is running on Weblogic and we experience issues very often either with performance or with a bad configuration of the system.
• As with all Oracle products, the price can be an issue for smaller shops.

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In many scenarios it should have provided more features. It took a lot of effort while debugging, making it difficult to maintain.

Not easy to debug errors.

Overall satisfactory

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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We evaluated Bonita and found that it might fit a smaller-sized company better; we found that Oracle BPM Suite scaled much more evenly. We almost went with one of the competitors, but in the end chose Oracle BPM Suite after we factored in the cost of VMware licensing. There are literally tons of analytics on the back end which are great for upper management, but not so much for average users, but this fits our business model quite well.

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Independently Invited by TrustRadius

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• 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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• You'll most certainly need a deep dive and extensive training before your users can even think of using the product and they are very expensive.
• Lack of documentation makes it very difficult to manage the application if any error is encountered which will result in you ending up hiring a dedicated person to look into the application once it's deployed.
• For a very large org., if properly implemented and used, it can help identify the cost-intensive and inefficient processes.

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