If a company decides to use a virtual data room there are two key features of the platform need to be secure storage of documents and files and accessibility to team members. Depending on the industry and project and the number of users, and the length of time it is possible to choose different pricing options check my blog for the VDR, such as per-page pricing, per-user pricing pricing based on storage size as well as a flat monthly fee.
Many vendors charge based on the number of gigabytes (GB). This pricing model is perfect for projects with small text files, but could be costly for businesses who exchange large audio and video files.
The price of a VDR is also influenced by the administrator access granted to the system. Some providers allow unlimited admins that can make the platform more expensive. However this feature helps streamline processes and speeds the process of due-diligence.
Some vendors allow for integration with other commonly used platforms, like Slack or Microsoft Office which enhances functionality and user experience. These features are usually more expensive than the ones without integrations.
The duration of the project is likely to impact the cost of the virtual data room as a vendor typically provides an agreed price for a certain number of months and then charges month-to-month after that. Some vendors, such as DealRoom, offer discounts for M&A deals and let you terminate your contract after the deal is concluded. This is a great option for businesses who aren’t sure how long a project will last.