This content is currently locked.

Your current McLean & Company subscription does not include access to this content. Contact your account representative to gain access to Premium SoftwareReviews.

Contact Your Representative

Or Call Us:
1-877-281-0480 (US/CAN) or
+1-519-936-2659 (International)

DealRoom

FirmRoom

Composite Score

8.0 /10

CX Score

8.1 /10

25 Reviews Write a Review

What is FirmRoom?

FirmRoom features a full suite of state of the art built in tools and features. FirmRoom is a highly adaptive platform that can be integrated into the IT solutions of almost any company. Although our product is designed with the specific needs of the financial sector—especially M&A due diligence—in mind, companies in a wide variety of industries are discovering the many potential uses for VDR tech in their fields. Industries currently using virtual data rooms to protect their data include: legal services, pharmaceutical and clinical research, mining and energy production and real estate management. ‍

Company Details

Need Assistance?

We're here to help you with understanding our reports and the data inside to help you make decisions.

Get Assistance

Awards & Recognition

FirmRoom won the following awards in the Virtual Data Room category

Filter By

2024 Data Quadrant Gold Medalist

Latest Award, 2024

11 Top Rated Capabilities

7 Top Rated Features

Latest Award, 2024

2024 Emotional Footprint Champion

2024

Strategy and Innovation
Service Experience
Product Impact
Contract Negotiation
Conflict Resolution

2024

2023 Data Quadrant Gold Medalist

2023

11 Top Rated Capabilities

10 Top Rated Features

2023

2023 Emotional Footprint Champion

2023

Strategy and Innovation
Service Experience
Product Impact
Contract Negotiation
Conflict Resolution

2023

2022 Data Quadrant Gold Medalist

2022

11 Top Rated Capabilities

11 Top Rated Features

2022

FirmRoom Ratings

Real user data aggregated to summarize the product performance and customer experience.
Download the entire Product Scorecard to access more information on FirmRoom.

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

85 Likeliness to Recommend

1
Since last award

96 Plan to Renew

1
Since last award

83 Satisfaction of Cost Relative to Value

{y}

{name}

Emotional Footprint Overview

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

+87 Net Emotional Footprint

The emotional sentiment held by end users of the software based on their experience with the vendor. Responses are captured on an eight-point scale.

How much do users love FirmRoom?

4% Negative

11% Neutral

85% Positive

Pros

Continually Improving Product
Trustworthy
Effective Service
Fair

Feature Ratings

Average 85

Artificial Intelligence Categorization and Indexing

100

Q&A Management

Digital Rights Management

File Sharing Collaboration

Optical Character Recognition

Data Encryption

Permissions and Access Right Management

File Rooms

Redaction

Drag and Drop User Interface

Reporting and Analytics

Vendor Capability Ratings

Average 83

Vendor Support

Ease of Implementation

Availability and Quality of Training

Ease of Customization

Ease of IT Administration

Usability and Intuitiveness

Product Strategy and Rate of Improvement

Quality of Features

Ease of Data Integration

Breadth of Features

Business Value Created

FirmRoom Reviews

Ammar R.

Role: Finance
Industry: Manufacturing
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Dec 2021

Outstanding platform for document review collab

Likeliness to Recommend

8 /10

What differentiates FirmRoom from other similar products?

I really like the flexibility of options and configuration that is afforded by the DealRoom platform. Document-specific permissions can be set, and documented comments back-and-forth are supported. I also appreciated the ability to express relationships between documents (e.g., parent-child and/or parallel relationships).

What is your favorite aspect of this product?

I have been exceptionally happy with the clean design, ease-of-use, and focus of the DealRoom product.

What do you dislike most about this product?

I couldn't easily figure how to display the Assignee(s) tied to any particular request or document.

What recommendations would you give to someone considering this product?

We used this platform to increase the efficiency of (quickly) reviewing a large number of documents by a large, multi-functional team in a way that would not have been as organized using more traditional shared drive technologies. It helped us a lot to align internally on the use cases and processes around using the platform.

Pros

Performance Enhancing
Enables Productivity
Efficient Service
Acts with Integrity

Nathaniel C.

Role: Finance
Industry: Finance
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Dec 2021

Favorable cost structure with the right features.

Likeliness to Recommend

10 /10

What differentiates FirmRoom from other similar products?

Easy to use and great features with a cost structure that is more in tune with market needs compared to other data room providers.

What is your favorite aspect of this product?

Ease of use.

What do you dislike most about this product?

Nothing comes to mind.

What recommendations would you give to someone considering this product?

Call support services if you need help.

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

How We Deliver

FirmRoom

What is FirmRoom?

Company Details

Need Assistance?

Awards & Recognition

2024 Data Quadrant Gold Medalist

2024 Emotional Footprint Champion

2023 Data Quadrant Gold Medalist

2023 Emotional Footprint Champion

2022 Data Quadrant Gold Medalist

FirmRoom Ratings

85 Likeliness to Recommend

1 Since last award

96 Plan to Renew

1 Since last award

83 Satisfaction of Cost Relative to Value

Emotional Footprint Overview

+87 Net Emotional Footprint

How much do users love FirmRoom?

Pros

Feature Ratings Average rating of all product features, some of which may not be shown below

Artificial Intelligence Categorization and Indexing Analyze and manage files with integrated AI through suggested categorizations and index creation.

Q&A Management The ability for admins to field questions from users, route to a subject matter expert to answer, vet the answers and get back to the questioner.

Digital Rights Management Protect intellectual property from being saved, copied, printed or distributed and the ability to add watermarks or expiry dates to documents.

File Sharing Collaboration Users share, view, edit, discuss, and provide feedback on content, synchronously or asynchronously, either natively or through a third-party integration.

Optical Character Recognition The ability to transcribe the image text into a format that is recognized as electronic text

Data Encryption Encrypt data in flight, while it's being uploaded/entered, and at rest, after it is uploaded/entered.

Permissions and Access Right Management Defining of user-access rights for content assets or folders at group and individual level to control the management of digital assets.

File Rooms The ability to create rooms or groups to organize similar files.

Redaction The ability to fully redact personally identifiable and sensitive information through text and image redaction.

Drag and Drop User Interface Optimal user interfaces and interactions, such as drag-and-drop and file open-in applications.

Reporting and Analytics The solution provides the ability to create metrics-driven dashboards and reports showing unique visitors, click-through, conversions, payments etc.

Vendor Capability Ratings Average rating of all vendor capabilities, some of which may not be shown below

Vendor Support The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Ease of Implementation Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Availability and Quality of Training Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Ease of Customization Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Ease of IT Administration This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Usability and Intuitiveness End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Product Strategy and Rate of Improvement Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.

Quality of Features Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Ease of Data Integration Use this data to determine whether the product will cause headaches or make data integration easy.

Breadth of Features Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

Business Value Created Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

FirmRoom Reviews

Ammar R.

Outstanding platform for document review collab

Likeliness to Recommend

Pros

Nathaniel C.

Favorable cost structure with the right features.

Likeliness to Recommend

Pros

Title

1
Since last award

1
Since last award

Feature Ratings

Artificial Intelligence Categorization and Indexing

Q&A Management

Digital Rights Management

File Sharing Collaboration

Optical Character Recognition

Data Encryption

Permissions and Access Right Management

File Rooms

Redaction

Drag and Drop User Interface

Reporting and Analytics

Vendor Capability Ratings

Vendor Support

Ease of Implementation

Availability and Quality of Training

Ease of Customization

Ease of IT Administration

Usability and Intuitiveness

Product Strategy and Rate of Improvement

Quality of Features

Ease of Data Integration

Breadth of Features

Business Value Created