If you have already checked a few providers that operate in the data room market you may have noticed that the prices are different even though the products seem to be similar. To understand why VDR costs vary you should pay attention to five characteristics that underlie the price of any platform.
- The unit you are being charged for
There are two main ways of how providers count the final price you are expected to pay: you might be charged for each page uploaded or for each megabyte of data. Depending on the type of information that prevails among your files, each pricing model may be beneficial for you. If you plan to store mainly text files then it makes sense to choose a vendor that counts the price per megabyte as text files are rather small. However, if you are about to upload images, graphics, videos, audio or any other multimedia files then it would be better for you to collaborate with a provider who charges you per page. In addition, you may consider purchasing an unlimited storage: if you have a lot a data to share it might be the most efficient and wise solution.
- The number of functions included into package
It is pretty obvious that the more options you have – the higher prices you pay. When it comes to data rooms the two features are the most valuable – security and accessibility. If the room lacks certain data protection tools or if it offers its users limited access then you may expect the cost to be rather moderate. But it does not seem to be reasonable to discard the key benefits of a VDR costs to save money.
- The number of projects you plan to perform
The majority of vendors give their potential clients a chance to choose a platform that corresponds with the plans of a deal-maker. You may plan to execute one deal via the room or you may intend to run several projects concurrently. Apparently, the latter option would cost you more but if you count attentively it turns out that it is more profitable to open one room for a few deals then to open a new VDR costs for every project you take part in.
- The period of use
The same is fair for the period of time during which you plan to exploit the platform. You may open a room for a short-term project and pay a certain sum of money on a monthly basis. Or you may cooperate with a vendor for a year and pay an annual price – eventually, for a long-term use, you would pay less per month them for a short-term agreement.
- The number of people who may access the room
You open a virtual room to invite people there and to share certain documents with them. But before you purchase any subscription you have to count how many visitors you expect. Some vendors count each visitor separately and charge you for the final number of users. Meanwhile, others offer you an unlimited access and allow you to invite as many people as you want. The first pricing model makes sense if you know how many people will work with your data and this number seems acceptable to you. But if you work with a huge corporation then it may be reasonable to purchase a VDR that has an unlimited access.
The factors mentioned have a great impact on the price which you would, eventually, pay for a virtual data room. But they do not form an exhaustive list of features that may make the VDR costs vary. For instance, the reputation of a provider plays a significant role: if a vendor is perceived as reliable and trustworthy you may expect the price to be higher in a comparison to the less popular VDR providers. You should be critical and attentive while evaluating each function and characteristic of the room as you do not want to pay for the functions you do not need and you do not want to be disappointed with your choice.