Virtual Data Room pricing has changed substantially in the last few years. In recent years, there is an increase in the number of dataroom providers that offer “unlimited” fees. When it comes to determining the cost of an unlimited or a limited virtual data room, there are a number of factors used to decide which would be the right way to go. These factors include the amount of data storage you’re going to be needing, as well as the amount of access that you’ll want. Naturally, the credibility of the provider, its service and its security also play an important role when it comes to determining the cost of the service you’ll want to use.
Virtual Data Room Synopsis
In the past, when companies were involved in a process involving Mergers and Acquisitions, a physical data room was set up. This was often a very expensive proposition, since the individuals involved in the process had to physically travel to the location of the data room while due diligence was being conducted. Due diligence is often a time-consuming process, and sending teams of investment investigators to the data rooms was quite expensive.
However, with the improvements in technology that have taken place, virtual data rooms are exploding on the scene. A virtual data room allows all parties with access to conduct due diligence without having to physically relocate to the data room. This allows individuals with clearance to access the necessary documents from their desks or their homes or even on their mobile devices.
Pricing Options
There are plenty of virtual data room pricing plans available for both unlimited and limited data. In many cases, unlimited data is provided on a monthly basis and lets the individual or business store an unlimited number of documents within the virtual data room. With limited data, however, there is usually a specific initial amount of data storage provided, with additional costs being incurred if the data usage exceeds the specified amount.
1) Unlimited versus Limited Pricing Plans
You might be wondering which is the right virtual data room pricing plan to use. The first question you should be asking yourself is how often you will be using a virtual data room. If you’re only going to need a virtual data room a couple of times a year, you’ll probably want to go with a limited data pricing plan. You would be able to pay per page or per megabyte, upload your own documents, and access the virtual data room during normal business hours. Some limited pricing plans, however, will charge you more for access during nights and weekends, which should not be the case, so be aware of these additions! On the other hand, going with an unlimited data pricing plan might cost more at the outset, but for individuals and companies that use that virtual data room on a constant basis, it would be the most cost-effective way to go.
2) Security based on Pricing
The level of security your data gets should not depend on the type of pricing plan you opt for because if you are going to get a lower level of security then you might as well opt for free services such as DropBox or Google Drive. Some virtual data room pricing offer different cost levels for different levels of security, ranging from minimal to highly advanced. If that is the case then stay away from such data room providers. What you are paying for is security, so do no compromise that because of cheaper pricing plans.
