- Virtual Data Room Pricing in 2022
Virtual Data Room Pricing in 2022
It’s no secret: the business world has been steadily transitioning to the virtual sphere. As such, virtual data rooms have become an invaluable tool for most companies — especially large organizations. Little wonder the value of the global virtual data room market is skyrocketing, and is expected to reach $3.63 billion by 2026.
With new file sharing services and data room providers popping up left and right, we’re starting to see a crowded market with plenty of new virtual data room solutions to choose from. But to the uninitiated, this sheer breadth of choice can come as an unwelcome surprise.
Which data room provider is the best for my case? What pricing structures will get me the best bang for my buck? There’s no immediate answer to these and similar questions. No amount of software advice can help you if you don’t understand your needs in terms of document management, basic tools required, document security, and so on.
The good news is you can go a long way towards establishing which data virtual data room software is the best for your use case if you first situate where your company stands in the VDR market.
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Features that influence virtual data room pricing
Every data room is priced differently according to a variety of factors such as functionalities offered, data storage, user limit, and subscription time — among others. Below, let’s take a look at some of the key aspects that get priced into your data room of choice.
1. Security level
A virtual data room is, above all, a corporate repository for confidential documents. VDRs are not just a Google Drive-like option: we fully expect them to keep our confidential information secure.
Having said that,though, you should be aware that different VDR providers offer varying levels of deal room security, with a multitude of possible features to ensure your sensitive documents are kept under your full control.
Below you’ll find some of the security features you should look out for when factoring your virtual data room cost.
Remember: you may not need all or even most of them for your data room. A good idea is to determine which ones your data room can absolutely not do without, and then consider the others as a welcome bonus — but not something to pay extra for.
File tracking and user activity
An audit trail that shows user actions across your data rooms is a key aspect of user management, as you’ll easily find out if you take the time to talk with anyone who’s worked as a data room admin.
The audit trail is widely regarded as one of the most important aspects of a data room by board directors, investment bankers, and other users with high stakes in the game. The reason: it provides you with an effective document version control, allowing you to see at glance exactly who viewed, downloaded, or edited which files, and when.
Audit trails can also be key to the work of regulatory agencies conducting audits or similar inspections.
Encrypted digital documents are more than just a luxury nowadays. They are essential to ensure your files are not viewed or edited by anyone other than users with access to them.
Not all encryptions are made equal, though, and not every virtual data room solution provides the same level of security for cloud storage and document sharing. Look for certificates such as ISO27001 and SOC-2 to ensure your data room provider is up to task and prevent unwanted access to confidential documents.
User permissions and access control
The ability to regulate access rights (who can view, edit, or download what) is an additional user control that goes a long way to creating a secure data environment. Being able to assign permission based user roles is a must for large corporate transactions with many users involved. It can also be helpful when you need to open your data room to outside access, as is often the case in bidding or fundraising activities.
How do you know who really is accessing your virtual data room? Two factor authentication is a vital step toward preventing unwanted access, meaning every time a user connects to a data room from a new device or location, they’ll be required to use their mobile devices to prove it’s really them.
This extra layer of security is the best way to keep confidential documents from being snuck out of your electronic data room through screenshots or pictures. When accessing any data on your platform, users see their own login information splattered across documents. Sharing with a screenshot means sharing their own data.
Features like secure fence view, single sign on, built-in virus scanner, authentication technology, API integrations with Google Drive or Microsoft Office, secure link sharing — these and many other features are all offered by different VDR providers and may or may not be essential to your use case.
2. Number of projects, visitors, and administrators
Virtual data rooms also vary in price according to the amount of operations clients need to conduct. As an example, if a VDR is meant for a single M&A activity, you can benefit from a reduced usage plan with, say, a 3-month access to your deal room.
Other VDR providers will set their pricing structures according to document storage available or access by unlimited use. For instance, virtual data room solutions targeting medium and large businesses will often provide an enterprise plan with limitless access to features and bulk user options.
On the other hand, a common option offered by data room providers is per page pricing. This can be ideal if you only need a safe document sharing space and are looking for a predictable cost.
3. Data and project management
A virtual data room solution is not only about the security of your sensitive documents. It’s also about how convenient the platform is for managing data and projects. A virtual data room software should help streamline corporate transactions — whether we’re talking about an initial public offering, a due diligence process, or any other transaction with high file sharing requirements.
The top VDR providers feature a pricing structure that accounts for the needs of small, medium and large businesses, with all the requisite collaboration tools to take your document management to the next level and get your projects up and running in no time.
It’s usually the case that virtual data room providers offering unlimited plans with a wide range of features will also cost more. That stands to reason.
In practical terms, this means that if you’re not after a sophisticated enterprise plan and only need basic file sharing features, it makes sense to look for VDR providers offering virtual data room solutions to smaller, rather than medium and large businesses.
Besides, you should pay attention to the specific features some providers offer with even their least expensive plans. For example, the Interlinks company uses AI-powered services for their data rooms, which is reflected in their high prices.
5. Storage size
This feature is especially important for some vendors, as their pricing model is based on it. The more gigabytes of cloud storage a company uses, the pricier the virtual data room solution. There can also be limits to sharing files. Also, it is crucial to know if a VDR limits the number of gigabytes — exceeding the amount of storage capacity may incur additional fees.
6. Other features
Many other features can make your life easier — and drive up the price of your virtual data room. Here are some of the features you should know whether or not you really need. If you don’t, look for other providers that don’t feature them, but offer their data rooms at a lower cost.
- 24/7 support in multiple languages. How critical is it for you to get immediate support? How many languages do you need?
- User onboarding. Does your company have a large number of users you’ll need help with onboarding?
- Integrations. Do you really need to integrate your virtual data room with Microsoft Office and Google Drive?
These and other extra features may also hinge on the specific needs of your industry. Are we talking about a multinational pharmaceutical company with important patent secrets or a legal firm with key global clients that needs special user licenses? Is the client in private equity, investment banking, or the energy sector?
Sometimes, answering these questions is all the software advice you need in order to know which extra features to look for.
How much should a VDR cost in 2022?
Having considered your needs in terms of the above categories, it’s time to figure out what pricing structure suits you best. Depending on the plan they subscribe to, businesses may face unnecessarily large monthly invoices, so it’s time to look for VDR vendors that offer what you really need.
Typically, your virtual data room will be priced in one of the following formats.
Per page pricing
Some virtual data rooms choose this pricing model. Depending on how big your project is, it might cost companies between $0.40 and $0.80 per page. However, some data rooms will charge you as much as $1 per page.
For obvious reasons, this is not a great pricing option for companies where document management runs into the thousands of documents per month. However, it can be a good option for companies looking for basic data rooms for a limited number of files.
Some VDR vendors only offer clients a limited number of users, which means additional users cost extra. This kind of virtual data room will commonly set you back from $100 and $250 per user. However, this number significantly differs depending on the provider.
Here, your virtual data room is limited according to the number of gigabytes in stored content. In this case, many virtual data rooms will provide a set limit, after which you’ll pay for extra storage in a tiered format. Another popular option is to have different data room pricing tiers for different overheads. If your company only needs a small amount of data room storage, this option may be the best.
This virtual data room pricing plan is the most popular with many users, which is no surprise. It offers a combination of data sizes, page limits, and user limits, charging anywhere from $500 and $1000 per month.
This is an option most software advice pages will tell you about. It’s also the pricing model many popular virtual data room providers choose to work with, including renowned brands such as iDeals, Caplinked, and DealRoom.
Could this be the best variant for you? Sometimes, projects can change, particularly in size, duration, or the number of elements. If you think your data room may have additional user or data storage needs in the near future, paying a flat monthly fee can save you from unexpectedly high invoices.
Pricing of the best virtual data room providers
|Company name||Pricing plan||Free trial||Price|
|iDeals||Monthly subscription||Yes, 30 days||Inquire for quote|
|Intralinks||Per-page||No||Inquire for quote|
|Datasite||Per-page||No||Inquire for quote|
|BlackBerry Workspaces||Monthly subscription||Yes||From $15/user/month|
|BrainLoop||Monthly subscription||Yes||Inquire for quote|
|Onehub||Monthly subscription||Yes, 14 days||From $15/user/month|
|CapLinked||Monthly subscription||Yes||From $149/month|
|ForData||Monthly subscription||Yes, 14 days||From €165/month|
|Ansarada||Monthly subscription Storage size||Yes, 14 days||From €39/user/month From $399/250 MB/month|
|ShareVault||Monthly subscription||Yes||Inquire for quote|
How do the best virtual data rooms price their products
Let’s take a look at how some of the top virtual data rooms out there work in terms of pricing structure.
1. iDeals Solutions pricing
- Pro: one project, five administrators, unlimited guest users, and a storage of 10 GB maximum for small and mid-size projects with a 30-day free trial.
- Business: one project, five administrators, guest users, and a storage of 250 GB maximum for small and middle projects with a 30-day free trial.
- Enterprise: multiple projects, unlimited administrators, guest users, and flexible storage with a dedicated project team for large projects.
The company offers three possibilities:
You can find more about the iDeals pricing details at the company’s website.
2. Intralinks pricing
The Intralinks virtual data room functions on a custom, per use case pricing plan. The company doesn’t share its pricing information publicly, but you can get in touch with them for a custom quote.
According to online reviews, the price of the company’s services starts at $25 per month. Generally, Intralinks is known as a more expensive VDR provider.
3. Datasite pricing
This is one more company that is known as a premium segment provider. There are no pricing details available on its website, so you have to get in touch with the company for a personalized quote.
4. BlackBerry Workspaces pricing
The company offers three subscription plans with no price details:
- Send: for individual needs in online file sharing
- Collaborate: for small businesses size in short-term projects
- Secure Plus: for mid-size businesses in short- and long-term projects
According to customer reviews, prices start from $15/user/month.
5. BrainLoop pricing
The company offers a free trial period. For pricing information, please sign up on their website and provide your company details for a personalized quote.
6. OneHub pricing
The company provides four pricing plans with a 14-day free trial:
- Standard plan — $15/user/month ($12.50 if billed annually)
- Advanced — $25/user/month ($20 if billed annually)
- Data Room Edition — $375/month ($300 if billed annually)
- Unlimited Edition — $575/month ($500 if billed annually)
7. CapLinked pricing
The CapLinked data room works with two pricing plans, for teams and enterprises:
- Team Plan: $149/month with a free trial period
- Enterprise: Since the details of this plan are not public, you should get in touch with the company for a personalized quote
8. ForData pricing
The company offers three pricing plans with a 14-day free trial and the option of a personal plan:
- VDR Light: €165/month (€162 if billed annually)
- VDR Basic: contact the company for a personalized quote
VDR PRO — please contact the company for a personalized quote
9. Ansarada pricing
The company provides two types of pricing models:
- Flat monthly fee with a 14-day free trial:
- 90°: €39/user/month
- 180°: €99/user/month
- 360°: For this plan, you need to get in touch with company and ask for a personalized quote
- Storage size: starting from $399/250 MB/month
10. ShareVault pricing
The company offers three pricing plans (ShareVault Express, ShareVault Pro, and ShareVault Enterprise). There’s also a free trial option available. However, as there’s currently no access to public data on the pricing plans, you have to get in touch with the company’s sales team for a custom quote.
Choosing the best data room for your use case is no easy task. As you can see, there are plenty of stellar options to choose from — and quite a lot of factors you should take into account as regards your business needs. That said, we hope this article helps point you in the right direction.
Remember: do your homework and you’ll never have to regret the choice you make.