The cost of an online data room is considered to be the essential factor influencing the choice of a VDR software program. Nevertheless, for novice users, the current prices for e-data rooms may seem shocking and highly inflated. That’s why it’s important to explore the different aspects that go into calculating the final price of an electronic data room service.
What Are the Advantages of an Internet Data Room over a Physical one?
There are a lot of benefits of an online data room for the Buyer, namely:
- Saving time (there is no need for business trips);
- Comfort (you can study the material in the information room at your time);
- Fair playing field (all buyers have the same information);
- Reading documents online.
The possible benefits of VDR for the Seller are described below:
- Cost savings (the program needs to be set up only once, there is no physical availability);
- Ease of setup (access to documents can be adjusted depending on the buyer);
- Transparency (the activity of individual buyers can be traced);
- Parallel process (more customers visit the data room at the same time);
- Security (with proper system setup).
What Affects the Cost of an Electronic Data Room Program?
The e-data room software market has plenty of prestigious offerings. Like any other product or service, an Internet data room software service comes with a price. Without a doubt, data room services are expensive. The thing is that the technology behind this software is complex and resource intensive. E-data room pricing is characterized by a list of a plethora of components, including the following items:
- Provider security certificates: large companies will look for options (single sign-on, dynamic watermarking, etc.).
- Technical support service: a good developer of data room for business services should include customer support in the overall cost of the product. However, there are cases when the customer can expand the list of services with additional functions (live chat, personal assistance, round-the-clock support, and so on).
- Customization options: sometimes a client would like to add extra branding to their data room interface as well as other cosmetic peculiarities. For an additional fee, the provider offers a list of services.
- Data store: the more gigabytes of e-storage a client needs, the more money they need to spend.
- Functionality peculiarities: virtual data room pricing varies based on the program features and capabilities.
- Integrations: the ability to access the chosen software solution from anywhere and on any gadget improves user experience. It also speeds up transactions.
- Provider brand: the origin of the VDR developer affects its pricing. Providers that have been around for decades tend to have higher commissions than younger ones.
Data Room Pricing Structures
The most typical virtual data room plans include the following:
- Per-page: it is considered to be the most popular variant to calculate fees;
- Per-user: a VRD client can store any number of documents of any type, as long as the data amount does not exceed the size limit;
- Duration of use: the cost of the service depends on how long the program will be active;
- Fixed rate: the administrator selects the most appropriate scheme based on the number of clients, storage capacity, etc.