A form of highly secure storage and collaborative document processing, virtual data room (VDR) technology is used around the world to protect sensitive data during major corporate financial actions. Firms involved in M&A, document due diligence, divestitures, corporate finance, and a variety of other fields use VDRs as an integral part of their daily processing.
Before advances in computational technology made virtual data rooms possible, firms brokering the sale of large businesses would invite potential buyers to a secure, closely-monitored physical location (the data room) in order to disclose all the sensitive financial information required for the purchasing entity to make an informed decision—a process known as due diligence. Today, virtual data rooms have largely supplanted physical ones, eliminating the need for investors to travel to the location of the data and greatly streamlining the M&A process in general.
FirmRoom use the same data security protocols as banks and other major financial institutions. All data accessed or transmitted through the platform is encrypted using 256 bit SSL encryption. The physical data is stored in secure vaults with stringent access restrictions. Security features built directly into the platform—document expiration, fully customizable access, password identification, timed logout, and others—ensure that sensitive data is secure from the user end as well.
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.
At FirmRoom, we aim to further expand the role of VDR technology by providing a basic data room platform at a price point available to even small businesses. Whether you’re with a major firm looking to optimize your due diligence with the most powerful platform available, or you simply need a secure dropbox alternative, FirmRoom can help.
Storage space is scalable to the individual needs of our clients. Our team will work with you to determine your storage requirements at a price that makes sense for your company.
Although most industry VDR platforms offer the same level of security, they differ widely in regards to features, functionality, and price. As a new platform built by M&A industry insiders, FirmRoom seeks to improve on the shortcomings of other providers and offer the most up-to-date solutions and powerful features at the best possible price.
FirmRoom's platform pricing options are variable depending on the data management and processing needs of our clients. For further information please visit our pricing page.
The initial set up process takes only minutes and our team is on hand to help with any questions or implementation issues.
With the FirmRoom platform you can grant anyone—internal or external to your institution—access to any part of the data room down to the document level simply by entering their email address and customizing their permissions.
We designed FirmRoom to be as intuitive and user-friendly as possible. Most of our clients are able to start using it for their data processing as soon as it is up and running. However, if you are using FirmRoom for more complex IT solutions and need additional assistance, our customer service team is available to help you 24/7.
While at first glance, VDRs and file hosting services such as Dropbox share a great deal in common, there are some important differences.
Security: data is encrypted and stored centrally in a secure server bank, rather than spread across many unsecure servers.
Restricted access: a true VDR allows administrators to control the ability of individual users to access different folders and documents.