If a business decides to use a virtual data room there are two main elements of the platform it requires: secure storage for documents or files and the ability to access them for team members. Based on the industry and project as well as the number of users and the length of time of the project, there are a variety of pricing options for a VDR including per-page pricing, per-user pricing pricing based on size of storage as well as a flat monthly cost.
Many vendors charge according to the number of gigabytes. This pricing method may be ideal for projects that have smaller text file sizes but can be expensive for companies that are exchanging large audio or video files.
The price of a VDR also depends on the amount of administrative access is granted to the system. Certain providers international transactions permit unlimited admin access which can make the platform more expensive. However this feature can streamline processes and speeds up due diligence.
Certain vendors allow integration with other widely used platforms, such as Slack or Microsoft Office, which improves the user experience and functionality. These integrations are typically more expensive than those that do not integrate.
The length of the project can influence the cost of a virtual data room, because a service typically offers an initial price for specific number of months and then charges monthly after that. Some vendors, such as DealRoom, offer discounts for M&A deals and allow you to cancel your contract once the deal has been completed. This option is beneficial for businesses who aren’t sure of how long their project will last.