How Much Should You Be Spending on a Virtual Data Room?

the cost of service

Pricing for virtual data rooms can range from $100 to $100,000 per month. Indeed, the range of prices for VDRs is quite wide, and everywhere has its offers, but among all these price tags you can stop and think, how much is it worth spending on virtual data room services? In this article, we’ll look at why prices vary so much, and what services you get for your money.

The principle of charging for certain services

Generally, providers charge for their services once a month. Virtual data room pricing is set in one of three ways, and each of them can represent a good deal, depending on the type of project you are working on. 

Some providers determine their pricing based on the number of pages you upload to the platform. This can be a great deal if your project is not that huge in scope. Other vendors may charge based on the size of the VDR or the number of megabytes you upload. In this case, such an offer will appeal to a company that mainly works with text documents, since their weight is relatively small. 

Others have a flat fee, regardless of how many files, what sizes, or what room you upload to. They offer their users unlimited storage and several users, which is helpful for companies with large-scale projects. The fact that providers with fixed prices usually offer discounts if you subscribe for a long term (from 1 year) can also be a significant advantage.

Influence of VDR functions on the cost of service

There are currently two types of VDR on the market:

  • Rooms of legacy data that have a wide range of different functions
  • Budget data rooms that are limited in their functions and capabilities

When evaluating data room pricing, you should ensure that the security and features of the platform meet your requirements. Saving on service while risking your safety is not the best idea, especially when you think about the consequences and how much potential money you can lose.

Today the developers offer several levels of VDR functionality. For example, you can pay for full access to the platform’s functions, or pay a little less, but some advanced functions will not be available to you.

Determine the scope of your projects

Projects differ both in size and in terms of their completion, but you also need to consider the fact that you may need more than one data room to complete it. Basically, fully functional VDRs allow you to conduct several projects in one data room, but this may not be with your hands in the first place, since it is impossible to keep everything in memory, and you will only confuse yourself more. When choosing a VDR with multiple data rooms, choose the most cost-effective one.

It so happens that providers do not send a price tag for an additional data room, but only ask to pay for storage. In this case, depending on your storage limit, its memory is evenly distributed across both rooms. However, if the volume of your storage is unlimited, you will have to pay extra for an additional room.

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