Businesses worldwide are utilizing virtual data rooms for their business dealings. Due diligence, M&A deals, and even smaller transactions are all aided by the possibilities that this software solution provides.
While searching for a virtual data room for your business, you might encounter disproportionality in provider pricing. It is easy to get confused with the number of subscription plans available to the client.
So then, how is virtual data room pricing set, and what are the core differences in those virtual data room plans?
Factors influencing data room prices
Several factors influence how data rooms charge for their services. They include per-page pricing, number of users, and storage capacity.
Here are the main criteria a provider might use for setting service pricing:
- Pricing per page. This type of plan better suits smaller projects, as it involves less paperwork than many other types of deals.
- Pricing per user. If your company does not need to provide access to many users, this pricing structure might make financial sense.
- Pricing per GB. Storage capacity-based pricing is also quite popular. Therefore, keep in mind that files containing videos, large graphic presentations, or pictures will contribute to your overall storage needs, thus affecting pricing.
- A flat, monthly fee. This is probably the most straightforward pricing structure, as it combines every other aspect and estimates the usual amount of pages, users, and GB a company might need for a project.
Main tariff plans
Virtual data room providers offer monthly or annual subscription plans. Most popular service providers like Ansarada, Dealroom, or iDeals have a three-tier pricing system.
- Pro. This is a barebones virtual data room that should suit most business needs. This plan provides secure file storage and file-sharing capabilities. However, this option has limitations. For example, iDeals allows one large project and five admins, while limits the number of guest users to 50. Additionally, Ansarada relies on a system that allows you to pick and choose your storage needs.
- DealRoom Pro/iDeals Business. This is a more premium option, which adds features for larger projects. This pricing plan targets businesses that are regularly involved in transactions or projects that need additional security. Ansarada, on the other hand, caters its services to businesses that want more flexibility in their plans.
- DealRoom Enterprise/iDeals Enterprise. The last pricing plan caters to big businesses that are often involved in mergers. Companies opting for this plan generally have a better idea of how much space they’ll need and utilize the tools hidden within.
|Pro – 1 project, unlimited number of users, 10GB storage limit||Single Room – single project, unlimited users, 5GB data storage||Dependent on individual needs, but each plan has unlimited users, and unlimited data rooms|
|Business – unlimited number of users and projects, 250GB storage limit||Professional – unlimited projects, unlimited users, pipeline management, 20GB data storage||Same as above|
|Enterprise – unlimited number of users and projects, 1TB storage limit||Enterprise – special offer for teams||Same as above|
Main tips for price comparison
When thinking of a virtual data room solution, there are a couple of factors that you need to take into account. Firstly, the solution is supposed to serve you, not the other way around, so finding one that fulfills your needs and is within your budget is a step forward in your business optimization.
- Ask your workers about their file storage needs
How are they currently handling important files? Would they benefit from a virtual data room solution? How much storage do they require? Those are valid questions you should have answers to before venturing into the market.
- Will they know how to use the tool?
Is your staff digitally literate, or will they need excessive training? Are they already using online storage solutions like GDrive in their day-to-day operations?
- What are your business needs?
Do you think you would need an elaborate solution with a monthly/annual subscription, or would a per GB plan be more suitable for your company?
- Do your research and test the solution
Read reviews to see what other clients are saying about the quality of service and pricing. Most virtual data rooms have free trials, so don’t be afraid to take them up on their offer.
There are a couple of ways a virtual data room can be priced. Each pricing plan is suited to a different type of client, and picking one that fits all of your needs might be a difficult task, although, with the help of our article, it should be much easier to come to a conclusion that will fulfill your company’s needs. So, check out the offer, and make your own virtual data room price comparison to see which works best for you!