Virtual data rooms can be utilized to reduce costs by eliminating the need for reviewers traveling to different offices. They also make it easier to exchange large volumes confidential documents. It allows buyers to look over documents at their own pace and reduces the time required to complete due diligence. It is, however, important to evaluate the cost of the VDR before making a choice on which one to choose.
Pricing for virtual data rooms can differ significantly between vendors. For instance, some utilize a per-page price structure that can range from $0.40 and $0.85 per document. This might be a good choice for smaller projects that require a set amount of small papers however, it becomes ineffective for large projects that require hundreds, or even thousands of pages.
Other vendors set prices based on storage size or the number of users allowed to access the room. Some offer a certain amount of data storage at an agreed-upon price and charge for overages if you exceed that limit, while others allow unlimited storage for a flat monthly fee. The latter is often preferred since it lets you to increase or decrease your storage depending on your needs, without incurring additional costs.
In addition, it’s worth looking at the features in each virtual data room pricing plan. Some providers offer full client management capabilities, which are essential for working with outside investors or clients and can help safeguard your confidential information. These capabilities aren’t expensive, but they can save you money by preventing costly miscommunications and disputes over access rights.