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FirmRoom Reviews and Ratings

Rating: 10 out of 10
Score
10 out of 10

Community insights

TrustRadius Insights for FirmRoom are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Business Problems Solved

Users have found that the software provides significant benefits in streamlining deals and improving efficiency. It offers an organized and efficient way to access data, making it particularly valuable in private equity deals. The platform is commonly used for sharing information and conducting due diligence in M&A deals, providing improved efficiency and security for users. With its built-in tracker, the software has proven to be a valuable tool for achieving efficiencies in deals. Users have reported no problems with the software and have experienced countless benefits.

One of the primary use cases for this software is solving the problem of securely uploading and sharing confidential information during the sale of a company. Users have found it easy and secure to access confidential documents through the software, even when dealing with sensitive information such as PowerPoint presentations. The software meets all necessary needs and facilitates due diligence processes, whether it involves buying and turning around struggling companies or creating a due diligence data room for fundraising purposes. Furthermore, users appreciate the software's ability to provide secure and traceable access to confidential documents.

In addition to its usefulness in due diligence projects, the software has received positive feedback for simplifying document organization. Users have found this feature pivotal in their success while leveraging the platform. The ability to hide VDR participants from one another and track overall activity and participation has also been praised by users. Compared to other expensive data room providers, users have highlighted superior pricing benefits associated with this particular software. It has effectively sped up paperwork processes in long and complicated deals, offering great customer support along the way.

The software has garnered high ratings from users in terms of both feature/functionality and overall value compared to other data room providers. In M&A due diligence scenarios, especially on the sell side, users have found this software easy to use with an intuitive interface and simple functionality. Its great price point allows for quick setup of a data room while still providing essential features like drag-and-drop upload and Excel viewer. Compared to per-page data rooms, this software delivers more value for the price. Users appreciate the convenience of being able to sign up online and rely on the software for secure file storage and sharing.

Overall, customers and users have had positive experiences with this software, finding it to be an efficient and effective solution for their deal-related needs.

Reviews

2 Reviews

Easy to Use and Secure

Rating: 10 out of 10

Use Cases and Deployment Scope

Easy to use, set permissions, and add other users. Drag-and-drop upload convenient and simple folder structure layout. Utilize the built-in Excel viewer a lot. More value for the price compared to per-page data rooms. And our clients are happier too. Like how I can sign up online. We use for secure file storage and sharing.

Pros

  • Securely Store Documents
  • Customizable Permissions
  • Organize Files

Cons

  • Document Comments
  • Task Management

Likelihood to Recommend

M&A diligence document collection, also just good for internal document storage/organization. Really easy to add documents to the platform with the drag and drop upload, also like how you can view files in-platform with the built in Excel platform, instead of having to download the file and open on my computer.

Firmroom--good value for a good price

Rating: 9 out of 10

Use Cases and Deployment Scope

I recently used FirmRoom on an M&A deal I was working on. I found it very easy to use with an intuitive interface and simple functionality. It has a great price point and allowed me to work with the client to get a data room up and running very quickly.

Pros

  • Simple and intuitive user interface.
  • Extremely easy to upload and manage documents.
  • Easy to view and download documents.

Cons

  • There is some latency in loading larger documents. So sometimes it wasn't quite as quick as I would have liked.

Likelihood to Recommend

This is a great data room for a simple transaction. It does not offer all of the bells and whistles like some data rooms--but the price point is a fraction of what those data rooms cost. And I think this is a great solution for an M&A project. I'm not sure it would be as good for tracking what users viewed a document or how long--although in all honesty, I didn't see such features. These days, most clients want to try and use Dropbox or Google Docs and I feel that firm room is a far superior solution to those often-used choices and the price point is not very painful and does not decrease the attractiveness of the offering.