Whether you need to share or store confidential files with other stakeholders, a virtual data room can provide a safe and efficient method to do so. The cost of a VDR is dependent on the size and duration. The majority of providers offer a range of pricing plans that can be customized to the specific needs and budgets of customers.
Consider how many files your company will work with, and then estimate their size, the number and duration of users, as well as the duration of the project. Some providers offer flexible plans that provide a certain volume of storage and unlimited user access for a monthly flat fee. Other providers offer a per-GB fee per user or per page. The latter is particularly attractive if you know exactly the amount of data to be transferred and could save you money on fees for overage.
Many VDRs offer additional services to ensure the success of the deal, such as custom analytics and business intelligence tools and consultations with experts. These features can help you reach your goals more efficiently, which will save you time and money. The greatest benefit is that these additional features are usually offered at a significant discount when integrated with your VDR solution.
There are a number of other factors that can impact the cost of a virtual data room that can affect the cost, such as the legacy of your provider and technology, how many documents you’re likely to work with, the size of your business and the level of security you need. For instance, older providers generally have higher costs than their younger counterparts. This could be due to the fact they’ve been in business for decades and have earned a reputation on the base of their previous customers’ experiences. Nonetheless, it’s important to study each vendor in order to ensure you’re getting the most value for your dollar.