How Much Should a Virtual Data Room Cost in 2020

How Much Should A Virtual Data Room Cost In 2020

Virtual data rooms liein the core of modern businesses as this tool simplifies all the document-based processes. And there are quite a lot of various providers that offer similar yet slightly different data rooms at rather different prices. While there are some details that impact the costs of this tool, it’s not easy to determine the suitable price. In this article, we will try to help you to figure out how much you should pay for a data room in 2020.

But first of all, what is a virtual data room? It’s a business tool that allows organizations to store corporate documents safely in a cloud repository keeping them available for authorized users. Using data rooms, companies can upload, store, update, share,and collaborate on papers conveniently with all the information being reliably protected.

Virtual data rooms are used for:

  • Due Diligence
  • Mergers and Acquisitions
  • Audits
  • Fundraising
  • Secure Document Sharing
  • Board Communications
  • Strategic Partnerships
  • and a lot of other business needs

What impacts a virtual data room’s price?

Quite a lot of providers still use a per-page pricing approach that creates the price you’ll need to pay for a data room based on the number of pages you’re going to upload. However,many modern vendors step away from this system trying to create a more thoughtful and suitable approach for the companies. So today you can expect all the features of your project to impact the costs you’ll need to spend on this software. Let’s take a look at the most widely-spread ways of creating price for data rooms.

Per-page pricing

This approach obviously relies on the number of pages you’re going to upload. Depending on the providerand on the size of your project the costs will be around $0.4-0.9 per one page.This pricing method is good for smaller companies that don’t have a lot of papers yet.

Per-user pricing

Since data rooms are used to share files safely, obviously, there will be several users in one workspace. Some providers base their pricing plans on this fact. They would allow a certain number of users within one subscription, and if you need to add more people, you’ll have to pay an extra fee for each additional user. You can expect a provider to charge some $100-2500 per each administrative user. All The view-only users will cost less or no money at all.

The size of the storage

It’s a popular approach among modern providers. Using this method, vendors will provide you with a certain amount of space of the storage — usually, the costs are around $75 perone gigabyte. It’s a good deal for companies with small-sized documents.

Monthly fee

Some providers would simply charge you a fixed price based on the pricing plan you’ve picked when signing up. Such a plan will include a certain amount of space for storage and specific number of users. It’s a good choice if you know how much space and how many users will your project require. However, most providers are flexible enough to adjust to your needs as they grow.

The best virtual data rooms 2020

It’s not easy to choose the most suitable solution. You need to consider both the features a certain provider offers and its prices. To simplify this process for you, we’ve studiedall the most popular and quality vendors in 2020 listing all the features and prices they offer. Thus, all you need to do is to determine your needs and go through our reviews to find the most fitting virtual data room.