FirmRoom is a virtual data room product designed by DealRoom specifically for processing M&A deals. The provider focuses on reducing the stress level traditionally associated with due diligence by supplying efficient instruments and enabling quick and transparent communication.
FirmRoom due diligence data room streamlines the user experience by simplifying the interface and maximizing feature arrangement. The software doesn’t require any plug-ins or extensions and presents the instruments in a very logical and straightforward way.
- Provider summary: FirmRoom is a Chicago-based tech solution provider launched in 2012 along with DealRoom, its sister company. FirmRoom software is used across many sectors while offering the most value to investment banking, real estate, and legal sectors.
According to FirmRoom’s online reviews, the overall data room due diligence process is easy to understand and navigate. On the other hand, some users report oversimplification and lack of some features compared to other providers in the same price range.
The FirmRoom due diligence data room is powered by Amazon Web Services and complies with industry-leading security practices, such as:
- ISO/IEC 27001
- SOC 2
- EU-US Privacy Shield
FirmRoom users can modify the level of data protection by using the features like static and dynamic watermarking, multi-factor authentication, and fully customizable access permissions. Additionally, all stored data is encrypted using AES-128 keys.
FirmRoom prices are structured according to three flat-fee models: Standard, Business, and Enterprise, with monthly or annual billing options. The Standard package includes unlimited users and up to 10 GB of data storage and costs $400 a month, billed annually, or $500 a month if billed monthly.
The FirmRoom due diligence data room has a free trial period available to new customers upon request.
The users can access FirmRoom’s support team 24/7/365 via phone, email, or chat. Representatives are available for platform training, complex setups, and data archiving.
Due diligence with FirmRoom
Considering that FirmRoom was designed for simplifying M&A transactions, it is safe to say that the platform provides sufficient tools and services for streamlined due diligence.
Some of the most noteworthy data room due diligence features by FirmRoom include:
- Intuitive document organization with drag-and-drop uploading and built-in file viewer
- 4-levels of access permissions
- Detailed user activity tracking
- Compatibility with various operating systems and devices
FirmRoom caters to small and medium-sized businesses who seek a basic set of due diligence features and a convenient interface.