Firmex Data Room Overview

About Firmex

Firmex, a leading virtual data room provider, is headquartered in Toronto, Canada, and operating since 2006. The company also maintains a London office, which opened in 2018 to expand into the European market. 

Due to state-of-the-art data protection features, award-winning technical support, and versatility, the product is in great demand for all-sized businesses. Currently, the number of Firmex VDR clients exceeds 140,000 organizations worldwide, and the company registers nearly 20,000 data rooms annually.

A Firmex data room serves a number of industries because it has proven the solution’s suitability for various objectives. For example, Firmex has clients in investment banking, biotechnology, legal services, government, mining, real estate, pharmaceuticals, fundraising, and private equity. Obviously, each sector has fundamental differences and peculiarities, but Firmex copes well with all challenges.

However, its virtual data rooms are most commonly used for regulatory compliance, mergers and acquisitions, litigation, corporate governance, procurement, and other transactions that require robust security and multi-tasking.

Support and deployment

A Firmex VDR is available as a web-based and cloud SaaS tool. Additionally, iOS users can benefit from its customized apps for iPhones and iPads.

Firmex technical support is available 24/7/365. In addition, they offer helpful advice and reasonable solutions in just a few minutes after receiving a help request. It is worth noting that the level of GDPR-compliant support does not depend on the service package and its cost. 

Software consultants are available in English, French, Spanish, and German via phone, chat, or e-mail. In addition, a knowledge base, forum, and FAQ section are available.

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Firmex pricing

Firmex offers a 14-day trial period which includes 1GB of storage and up to 10 users, so potential clients can test drive the software before committing to a subscription. This is enough for a potential user to appreciate the power and functionality of the Firmex virtual data room. Furthermore, the provider offers training with a team of award-winning experts. You can also request a demo on the vendor’s website by filling out a short form.

Software review platforms claim that the Firmex data room offers flexible pricing. However, the provider does not disclose information about the cost of services. Contact a sales representative for a customized quote.

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Firmex security

Virtual data room security is the most important thing for any industry’s daily workflows and transactions. Firmex offers the following layers:

1. Data protection

• Document permissions. The administrator configures who can view corporate records and for how long.
• Digital rights management. This gives admins more control over how other users copy, print, and save data to avoid leaks.
• Blocking data. Users can view content from a specific device or IP address only.
• Expiry date. Admins set the period during which access to the document is open — no actions are accessible after this time.

2. User protection

• User management. For each member, admins can assign access levels to ensure that confidential information within the organization is not compromised.
• Account blocking. If a user has multiple failed logins, the data room locks the account.
• Multi-step authentication. Firmex requires a password and a one-time generated code to enter the system.

3. Virtual data room protection

• Reporting. Firmex virtual data rooms provide directors with valuable insight into each member’s logins and activities on the platform.
• Backups. The Firmex provider replicates sensitive information in the Amazon S3 region.
• Penetration tests. Independent third parties review internal security practices annually to confirm their soundness and quality.
• Data encryption. For this data protection method, the provider uses TLS 1.2 encryption type.
• Scanning. The virtual data room automatically performs scheduled vulnerability scans to prevent privacy issues. In addition, the software is continually updated to detect various threats.

4. Regulatory compliance, certifications, and industry regulation

• SOC 2. This audit shows that Firmex uses advanced tools to ensure secure access and adheres to all SOC 2 principles for fast but protected information processing.
• General Data Protection Regulation. Firmex customers can store information in Canada, the United States, or the European Union. However, this legal framework protects your data regardless of its location.
• HIPAA. The provider’s compliance with physical, technical, and administrative measures to protect sensitive medical data adheres to strict HIPAA standards.

It is worth noting that the Firmex VDR layered security approach guarantees super-reliable protection for the most sensitive data. As these layers work together, they create an indestructible complex of mechanisms that help protect against serious data risks.

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