Virtual Data Room Pricing: Overview and Comparison of the Best Pricing Structures
Data room pricing is an essential consideration for teams looking to store and share sensitive information securely. However, pricing can vary significantly depending on your needs, project duration, data room providers, the number of users, features, and other factors.
While the service price varies from a few hundred to several thousand dollars, choosing a good solution may seem difficult. Fortunately, you can simplify the selection process by learning what factors influence the data room cost and how providers shape the price. So why not do it right now?
We also invite you to review top cost-efficient providers in the virtual data room market.
What impacts VDR pricing the most
Generally, data room providers determine their product costs based on the following factors:
| Storage space | In this scenario, the more storage you need for business workflows or deal management, the more a data room will cost. This can be a significant expense for companies that store large amounts of data. |
| Number of users | The more users you add to a data room, the more companies have to pay for it. Consequently, solutions for startups and small businesses can be cheaper than platforms for large corporations. |
| Number of projects | The data room cost increases with the number of projects it is used for. So, for example, when you employ software to manage a single deal or project, the price is lower than for managing multiple projects. |
| Number of administrators | As administrators manage data, security, and user permissions, the number of admins significantly impacts VDR costs. So, the more admins, the pricier the data room is. |
| Third-party tool integrations | Integrating your favorite products into virtual data rooms speeds up workflows since you don’t need to switch between applications and get an improved user experience. So, some products cost more due to integrations. |
| Customer support | Expert 24/7 technical support is critical for teams but adds to the cost. Thus, technical support available during business hours is cheaper than an expert team assisting around the clock via email, live chat, and phone. |
| Billing options flexibility | Most data rooms have a few payment options, such as credit cards or bank transfers. Additionally, VDR providers may offer monthly, quarterly, and annual payment options. As a rule, the more flexible the billing options, the more you pay. |
Virtual data room pricing comparison
You may compare virtual data room providers based only on their pricing plans and your budget. However, we strongly recommend choosing highly secure data storage with sophisticated security features, document management tools, and collaboration solutions. Will it cost you a fortune? No. Some cost-effective providers offer good value for money, and here are the best of them:
| Provider | Pricing plans | Storage range | Number of users | Pricing range | |
| 1 | iDeals | Pro Business Enterprise | 10 GB → 1 TB | 5 admins → unlimited admins and users | Get price |
| 2 | Clinked | Lite Standard Premium Enterprise | 100 GB → 5 TB | 100 → 1000 users | $83–$416 per month(Enterprise – custom) |
| 3 | Citrix ShareFile | Standard Advanced Premium Virtual data room | unlimited → 5 GB | 5 employee users | $50–$338 per month |
| 4 | Firmex | n/a | n/a | n/a | Contact the vendor |
| 5 | Intralinks | n/a | n/a | n/a | Contact the vendor |
| 6 | Merrill Datasite | n/a | n/a | n/a | Contact the vendor |
| 7 | Workspaces (WatchDox) | n/a | n/a | n/a | Contact the vendor |
Integrations
- iDeals – AWS Key Management Service, Okta, OneLogin, Active Directory Federation Services, Ping Identity, Google Workspace, Azure AD
- Firmex – Single Sign-On
- Intralinks – no integrations
- Merrill Datasite – no integrations
- Workspaces (WatchDox) – SharePoint, Dropbox, Windows Files Shares, OneDrive, Alfresco, iManage
- Clinked – Google Workspace, DocuSign, Adobe Sign, JotForm, Zapier
- Citrix ShareFile – Cicayda, Applied Systems, Basepin CONNECT, BidPlanroom, CloudPrime, iSign, Google Microsoft Office, Zapier
The most common data room pricing structures
As is known, providers choose various approaches when shaping the cost of their virtual data room solutions. So, we’ve highlighted a few of the most common pricing structures and invite you to check them out.
Per user
This pricing structure is based on the number of users granted access to the virtual data room software. As a rule, vendors have a fixed number of users for each tariff plan. However, you pay extra if you need to add an authorized user.
So, the more participants in your deal or project, the more expensive an online solution can be.
Per storage capacity
VDR products with storage-based pricing charge you for the storage you use. At the same time, most providers define a fixed storage amount for each tariff plan. And if you need additional gigabytes, you can buy them.
Consequently, the more storage you need to store confidential information and file sharing, the more expensive VDR will be.
Flat rate
Flat rate pricing is by far the most common approach in the virtual data room market. This pricing model offers a certain number of admins, users, projects, and storage for a fixed price, making it easier for customers to budget and forecast their expenses.
Generally speaking, more expensive plans may include unlimited users and file storage for larger projects. At the same time, cheaper packages are limited and, hence, more suitable for small projects.
Per feature
The per-feature pricing approach is one of the most cost-effective ways to purchase a virtual deal room. It allows clients to select only the needed features, which helps keep costs down. The subscription plans typically include a specific set of functions, but you can request additional features for an extra fee.
Per page
Although per-page pricing is now obsolete, some providers still stick to it. Here, you pay for each page you upload to the virtual workspace.
So, if you need a platform to store and collaborate on large amounts of sensitive data, per-page pricing is unlikely to work for you.
| Tip: The flat rate pricing model is an excellent choice for clients managing a long-term project with extended timelines. |
How to get discounts while buying a VDR?
Sometimes vendors make virtual data room costs more friendly to customers and provide the following discounts:
- Long free trial. You can use the complete data room functionality for a specific time with a free trial. This way, teams can test the product’s fit for their needs and even start managing the deal for no cost. While some vendors don’t offer a free trial, others allow using the product for up to 30 days.
- Discounts for multiple users. This discount is available to teams managing a project or business deal with many participants. Thus, since it is expensive for clients to pay for each additional user, providers may offer discounts for projects involving multiple parties.
- Annual payments. While you can pay for data room services monthly and annually, the second option is always cheaper and may save you up to 30%.
- Seasonal discounts. Well, it’s not easy to find a logical connection between the season and the virtual data room cost, but some providers offer seasonal discounts.
How to find the most financially beneficial virtual data room?
Choosing secure file storage that meets the industry specifics but also fits within the allocated budget can be challenging. But luckily, you won’t have to choose between high quality and lower cost if you consider a few important factors and follow the steps below.
1. Identify your needs
First, you need to know your problem to find the best solution. So, making a list of issues you expect the provider to solve is recommended.
For example, if you are in investment banking and your primary concern is protecting sensitive documents, focus on the security mechanisms a particular vendor offers.
2. Determine the features you need
This step may seem daunting if you’ve never used data rooms and know nothing about their capabilities. However, you can read about the platform features on the providers’ official websites to understand how they work.
Moreover, you can see each particular function in action with the provider’s demo. And finally, the best way to identify the features you need is to try them out by requesting a free trial.
Tip: To speed up complex procedures such as due diligence, look for bulk upload, automatic indexing, built-in redaction, and Q&A. And if you want to protect every secure document you have, look for granular user permissions, document activity tracking, watermarking, and robust data encryption.
3. Think about how many users you have
As mentioned, vendors usually offer a fixed number of users in their service packages. Therefore, you need to know how many people will participate in your project when choosing. Why is it so critical? The solution can cost you more than expected if you pay extra for each added user.
Note: If your team is likely to grow soon, you must ensure your provider will allow more users, and it won’t cost you a fortune.
4. Estimate the time frame of your project
A company may only sometimes know precisely how long a project will last. However, the better you can calculate the time frame, the more profitable your decision will be. For example, let’s say you are planning to complete your transaction within eight months. In that case, purchasing an annual subscription is much cheaper than paying a flat monthly fee.
5. Compare selected options
Now, you may already have a few providers who fit you best. So, another helpful step we recommend is to ask representatives the following:
- Does the provider have experience in your industry?
- What are the most advanced features they offer?
- What level of technical support does the vendor provide?
- Does the provider assist clients with onboarding?
- Are experts available to assist you 24/7?
- Do you get a personal account manager?
- Can you unsubscribe from a data room if needed?
- How much do additional VDR users and gigabytes cost?
- Are there any hidden fees?
Once you’ve got the answers to all your questions, compare the results and make sure you have the most advantageous offer. Then, you can pick the best provider for you.
Following these simple steps, you can find the most financially reasonable data room provider that meets your needs!
Key takeaways
Virtual data rooms are efficient tools for managing complex deals. It streamlines any data-heavy process, making it easier for both parties to access, review and store confidential documents. However, the cost of a product is a crucial factor for many customers.
Fortunately, customers can choose the most cost-efficient solution for their specific case and pay per page, per user, per GB, or a flat fee. However, first of all, pay due attention to the provider’s features and then compare prices to make the product worth your investment.
FAQ
1. Is it worth investing in a data room?
Data rooms are worth investing in if you need to store, share and protect confidential information, such as financial records and intellectual property. Not only do they keep your data secure and encrypted, but they also deliver an easy-to-use interface and collaboration tools.
2. How much does a virtual data room cost?
The cost of a virtual data room can vary depending on the provider, the features required, and how long the data room is used. Generally, virtual data rooms range from $2,000 to $50,000 per year, with many providers offering customizable packages for businesses of all sizes.
3. What determines a virtual data room cost?
Virtual data room cost is determined by storage space, number of users, projects, and administrators, third-party tool integrations, customer support, and billing options.
4. What are virtual data room pricing structures?
Commonly, virtual data room pricing structures are per user, per storage capacity, per feature, per page, and flat rate.
5. How do I choose the best virtual data room?
To choose the best virtual data room, you need to identify your needs, determine the features you need, think about how many users you have, estimate your project’s time frame, and compare selected options.