Virtual data rooms permit companies to share confidential documents with multiple parties in complex business transactions. They are a great solution for M&A diligence because of their ease of managing documents and storage security, as well as control over access rights. However, VDR costs vary from vendor to vendor and the nature of the services offered.
When deciding on when choosing a VDR, it is important to consider the financial capabilities of the company and the number of documents that will be stored in the virtual repository. This will help sift out options that aren’t worth the cost. There are a variety of pricing models such as per-storage, per page and per-user. The top-rated vendors offer complete security and advanced features. This is why large corporations prefer them.
The price of a virtual space is also affected by the amount of administrators and the number of users. Some providers offer a certain amount of administrators at an agreed-upon price, whereas others charge extra charges if the limit exceeds. It is recommended to select a VDR that has unlimited user licenses. This will reduce the cost of collaboration between teams.
The level of customer service is another factor that affects the price of the VDR. Some providers offer 24/7 support, while others provide basic support for clients only during business hours. Additionally, some vendors provide additional services such as managing projects and support for different formats for documents.