Pricing of virtual data room
How much does the virtual data room cost?
Virtual data rooms have become the most trustworthy way to meet business needs. The users of this SaaS are from different industries, world-famous corporations, and startups. The reason for the high demand is safety and ease of management. Besides, at the moment, there are no tools of the same quality. Some of us continue to use file hosting services, email programs in the course of transactions and other operations. In doing so, we take the risk of incurring severe losses in the event of theft or damage to data. Why do some businessmen prefer to work with outdated programs instead of introducing innovative new ones?
Perhaps there is a fear of change that is inherent in any living person. As you know, virtual data rooms are the digitization of all work processes, a way of control, etc. Some people tend to think that the transition to a new format will take a long time and effort to get used to. However, this belief is erroneous. With the help of providers, even the most inexperienced users master the platform with no difficulty.
Another possible cause for the slow shift to virtual data rooms is the price. It is a big mistake to think that only companies with significant funds can afford this tool. We all know the proverb – buy cheap, buy twice. The cost of data rooms is not prohibitive, and there are even novice businessmen among clients of VDR. It is important to remember that your data safety and usability are top priorities for a business to flourish.
How much is it? – a question of interest to every potential user. No one can answer since it depends on many factors.
What determines the cost of vdr?
Perhaps the more guarantees the vendor gives, the more expensive the service. This point is the main characteristic of a quality product. That refers to:
- availability of data encryption systems. The files are unreadable to unauthorized persons. Therefore, they are of no value even to those who somehow got hold of them. Encryption is a complicated algorithm using ciphers. In the virtual data rooms, keys are a must to decode a document. A hacker cannot download them from the Internet, for instance. In this case, only those keys that were used for encryption are suitable. When choosing a platform, take into account this characteristic.
- two-step authentication. Some programs require only a password to enter the system. The responsible provider knows that entering virtual spaces should not be easy for outsiders. If you are an authorized user, you just have to enter the password received on your phone into a special input box. No one can know and use it because it is randomly generated and one-time. That is, for authentication, you have to go through two stages. A phone number that is not in the database will not be a valid login. The program contains logins and passwords belonging to employees of a particular organization.
- watermarks. These translucent characters are applied to the document in a way that does not affect readability. What is the purpose? Company copyright protection. That can be the name of the organization, IP address, or other data that directly indicates the owner. It prevents violations, as no one can get rid of the signs or words.
Company managers open access to data depending on what responsibilities and tasks an employee or group of people have. For example, confidential information is available only to those who deal with it. If virtual workspace administrators can manage these settings, this tool is considered to be of better quality and more reliable than those that are not manageable.
Teams complete tasks much faster if they can do it all together. Built-in communication tools on the platform save time. Users do not need to use a telephone or email. The provider makes it possible to discuss issues directly in workspaces. Clients are offered both group chats and private ones. It also includes comments that the user can leave under a document of any format.
Ease of use
Professional developers set a particular focus on this point. Business people cannot spend a lot of time looking for features, files, or folders. The interface of a quality data room is always accessible and intuitive. Another crucial point is accessibility. There is no need to choose those tools that require any additional software, plugins, browsers, etc. In this case, the user significantly reduces their ability to access the database from some other device.
Tracking activity on the platform
As a minimum, the administrator needs to know who and what was doing with the data. The feature allows managers to monitor staff performance and prevent problems. A quality provider empowers managers. The program provides data on username, date and time of activity, the number of views, or changes. All this information can be in the form of an easy-to-understand report or graph.
This function is offered to us by more expensive providers. Companies can brand virtual workspaces and make them more recognizable. They decorate the pages with their logo, theme, and colors. This thing always attracts potential investors and clients.
The cost of services for a specific client
The price depends not only on the company delivering the services. The needs and requirements of the organization also matter. For example, virtual rooms are sometimes necessary for the time of a deal or a project. Such provision of services is cheaper than using the tool on an ongoing basis.
Cooperation between the client and the provider begins with a discussion of the needs and goals that the user pursues. It helps to understand which offers are suitable in a particular case.
The number of available gigabytes affects cost formation. If the company is starting its activity and does not own a large number of documents, then the price will not be high. It is essential to assess the need for gigabytes. Otherwise, the client will have to pay extra for additional. As a result, it is costlier than it could be. As you can see, saving in this matter is the wrong way. The number of users is another factor. The vendor’s tariff packages usually provide for a certain number of people. The most expensive ones allow an unlimited number of users and guests. The client must assess this need of the company. If there is no necessity for multiusing, virtual data rooms are cheaper. Again, each additional platform guest costs some money. The number of pages you want for a deal or project. If you know the amount of data that will be on the platform, the provider will help to determine the number of pages and the price. The level of protection you choose for your storage can also affect the price. High-quality security mechanisms are pricier than basic ones. In order not to take risks, the client should determine the privacy level of the platform content. Unless the data is valuable, you are unlikely to need an expensive tool under lock and key. Some organizations turn to service providers to obtain storage that is simple to manage. But don’t ignore the security issue if it is of great importance to your data.
Some providers let potential users test the product for nothing. If this sounds like a way to expand the customer base, then this is an erroneous impression.
This feature is free for the user, but that does not mean that it is the same for the VDR provider. Information service companies devote significant resources to getting the customer to try the product. It is the point to the conclusion that only high-quality and trusted vendors offer this feature.
What is its importance?
For a certain period, you get acquainted with virtual rooms, features, principles of work. Your team is doing the same thing and trying to get used to the new format. Then you make a decision: whether this tool is suitable for you or not.
What if the provider does not allow you to try it for free?
Unfortunately, you run the risk of paying money for something that is not quite right for you. It may happen due to many reasons, but the result is still deplorable. An inappropriate platform is not only useless but can also slow down a company or deal-making.
Buying a pig in a poke isn’t always a good idea. Moreover, if it concerns an acquisition that will affect your future life. In our case, the lifetime and prosperity of the company.
As you can see, there is no answer to the question about the cost of virtual data rooms. Only after weighing all the needs of the client organization, the provider will be able to calculate the cost.
Therefore, potential users should define their goals and desires for the platform to bring maximum benefit, comfort, and result.