Firmex Data Room Software Updates 2021
Jan 21, 2022
Throughout 2021, the Firmex data room provider incorporated many software updates, which shows that the company is constantly improving its product to meet and exceed customer expectations.
Improved viewer and easier navigation between the spreadsheets
The viewing of Excel files in the data room is an important aspect of the overall user experience. In February, the Firmex software team made the Firmex Viewer better, making it easier to access, view, navigate, and share spreadsheets. Furthermore, all of these tasks can be performed without any additional formatting.
This update also allows you to have all of the columns in one view and by using the column and row headings to reference specific cells.
Better spreadsheet security
Confidential files are now more secure due to improved security measures in the Firmex Viewer. You can now use watermarking across Excel spreadsheets to protect them from illegal copying.
In March, the Firmex virtual data room added the ability to recognize characters and numbers in scanned documents to their Firmex Search. Thus, it now supports OCR (Optical Character Recognition), and users can enable this free feature.
Two-factor authentication using Google Authenticator
Firmex added a new, more secure method of protecting the Firmex virtual data room — a two-step verification through the Google Authenticator app. It’s an easier and faster way to authenticate a user’s identity than by email or text message.
Firmex users can create templates for adding more simultaneous users. It helps to automate this process and make it much faster and error-free. For example, you can use the Firmex User Import Template instead of manually adding users. The process is very intuitive — you just send out the template to external parties to fill out and then import it into the project.
In April, there were no actual updates to the software. However, the Firmex team launched a quarterly survey to understand customer needs better. This survey also aims to collect user feedback to improve Firmex further.
The Senior Product Manager at Firmex, Rosie Chapman-Smith, says: “We love to hear from our customers and get them involved in that conversation. It really is such a huge factor in how we get things going, get into action. And of course, it’s always interesting and nice to meet-and-greet our customers face-to-face and really learn about the people who are using our products.”
The Firmex team values customer feedback and creates new software updates based on what customers want to see.
Better collaborative environment in Firmex
Firmex introduced staging projects in the data room. It’s a good environment for collaboration where users can prepare important documentation for complex transactions like partnerships or diligence in advance. It’s easy to create customized workflows in the Firmex virtual data room using a variety of advanced features, including quick view and content status.
These can be created around outstanding items and approvals so that the needed files are ready for a deal at any time. Additionally, all documents can be managed in one place, as the Firmex data room provider offers the right functionality.
Two-factor authentication with Microsoft Authenticator and Authy
Following the introduction of two-step verification through the Google Authenticator app in March, Firmex has also added additional authentication options through Microsoft Authenticator and Authy for the convenience of a larger number of users.
Improved Q&A workflow
In June, Firmex added new controls to the Q&A section, so the admins can better manage workflow. Now whenever a question requires additional files to be answered, it’s possible to hide the document until the main question is answered.
With this update, users can now separate their data by company, user segments, and group. Moreover, administrators can now see their project activity in the way the users are organized.