16 Sep The Best Data Rooms to Price Your Data
Overpaying for a cost-effective solution is one of the most bizarre things you will ever hear. Unfortunately, it happens in the virtual data room industry because consumers often don’t know how the data room software pricing works. Sometimes, consumers choose the wrong packages, while others may choose the wrong pricing options.
For example, many data room vendors, such as Intralinks, are still following the per-page pricing method, which may be great for small-sized and temporary projects. Still, it can be very costly if you want to store or share data in massive volumes.
So, what to do about it? Here is a guide on virtual data room pricing, and for your convenience, we have also compiled a list of some of the best virtual data room providers and their pricing details. Moreover, you can also find out data room pricings here.
Top ten virtual data rooms and their pricing
1. iDeals virtual data rooms
iDeals data room services are mostly employed in the financial, legal, life sciences, and real estate industries. The company offers a monthly subscription plan with three pricing packages: Pro, Business, and Enterprise. If you are interested read about this here.
For each of these plans, iDeals provides quotations based on the project’s scope.
DealRoom data rooms are famous for investment banking, divestment, M&As, the legal industry, and the financial sector. The company follows a flat-monthly fee pricing scheme starting from $1250 per month (billed annually).
It is important to note that this price is for one project; the company also provides quotations for unlimited or multiple projects.
FirmRoom’s electronic data room is not industry-specific, and these solutions are used in almost every business sector. FirmRoom also follows the flat-monthly fee pricing model that starts from $500 per month (billed annually). Just like DealRoom, FirmRoom also charges differently for more than one project.
Intralinks virtual data rooms are commonly used in the financial sector, and the company charges based on the per-page pricing model. You can get a custom quotation based on the nature of your project.
The ForData virtual data room company follows the monthly flat-rate pricing starting from $185 per month.
Merrill data rooms are a well-known name in the M&A industry. These VDRs are mostly used for deal management and due diligence. The company follows the per-page pricing scheme, and you can get a custom quotation directly from Merrill.
SecureDocs data rooms are famous for their use in the life sciences and legal industry. The company offers a standard monthly subscription starting from $250 per month (billed annually).
Box virtual data rooms are a great asset for businesses and individuals as well. The company offers a standard monthly subscription for individuals and businesses.
For individuals, the Personal Pro plan starts from $10 per month. Business plans start at $5 per user per month.
ShareFile virtual data rooms are commonly employed in the healthcare, finance, and legal industry. ShareFile offers a standard monthly subscription starting from $338 per month.
CapLinked virtual data rooms are mostly used in the life sciences and natural resources industry. CapLinked also offers a standard monthly subscription starting from $299 per month.
Four common online data room software pricing models
Currently, most virtual data room providers are following these pricing methods.
Data room vendors following this model charge consumers based on the number of users in the data room. Vendors either charge a fixed monthly fee for a specific number of users in a package or charge every user added to the data room.
Moreover, if the users exceed the maximum allowed limit, then every additional user will be charged extra. The average cost of this pricing model ranges between $100 to $250 per administrative user.
Per-page pricing is one of the earliest models used by virtual data room providers. Companies following this method charge customers for every page they upload in the VDR. It must be kept in mind that the price is for a total number of pages, not documents.
That said, if a document has 100 pages, you will be charged for 100 pages. The average cost of the per-page pricing model is $0.40 to $1. It is quite expensive and is only useful for short-term projects.
3. Storage-based pricing
Many vendors also base their pricing on the number of GBs customers consume. Packages may include a fixed limit of GBs, or the customer may be charged for every GB (gigabyte) consumed. The average cost of this pricing scheme is up to $75 per GB.
4. Flat monthly fee
The flat monthly fee pricing model is prevalent in the modern-day virtual data room industry. Data room vendors nowadays allow you to add a specific number of users and consume a fixed number of GBs based on your chosen package. Many vendors provide customer quotations based on the projects. The average cost ranges from $300-$2000 per month.
Virtual data room pricing can be confusing for new consumers. Those mentioned above are some of the best virtual data room providers and their pricing details.
You can choose the one that is suitable for your use while ensuring its pricing is cost-effective and transparent.