Data Room Pricing in 2023
What is the Data Room Pricing in 2023?
Virtual data rooms are a popular tool for secure document storage and sharing for a variety of complex transactions like financial deals. Naturally, the choice of VDR providers on the market is striking, and choosing the most cost-effective solution can be challenging.
Modern vendors have different virtual data room pricing approaches based on factors such as the variety of features, quality of customer support, ease of use, level of security, number of projects, and many more.
Because of that, virtual data room costs differ drastically — from a few hundred to a few thousand dollars per month. That’s why it’s essential for business owners to know what virtual data room pricing structure best fits their needs.
How much should a virtual data room cost in 2023, and what impacts the price? Learn more below.
Comparison of virtual data room pricing plans
Virtual data room pricing structures differ greatly depending on the particular provider. Many factors impact a virtual data room pricing, from the storage capacity to the variety of features.
When choosing a virtual data room and considering different pricing structures, you should clearly understand:
- How much space do you need for secure document sharing?
- How many users and admins will need access?
- What kind of project do you need a virtual data room for?
- What is your budget?
The table below compares the top 7 virtual data room providers on the market.
|Provider||Pricing plans||Storage size||Number of users and admins||Cost|
|Up to 10 GB|
Up to 250 GB
Up to 1 TB
|Unlimited users, 5 administrators|
Unlimited users and admins
|SecureDocs||3 Month Plan|
12 Month Plan
|Unlimited for all plans||Users — unlimited for all plans|
Admins — N/A
|$400 per month|
$250 per month
|5 GB20 GB250 GB||Users — unlimited for all plans|
Admins — N/A
|$1495 billed monthly|
$2995 billed monthly
$5995 billed monthly
|N/A||N/A||€12.90 per user/month|
|100 GB per user for all plans||1 user|
|$165 per month|
$450 per month
$1650 per month
|N/A||$15 per user/per month|
$65 per user/per month
$250 per user/per month
Pro 1 GB
Pro 2 GB
Pro 4 GB
|Unlimited users for all plans||$399|
What impacts data room pricing in 2023?
The following factors impact virtual data room pricing:
- Billing options flexibility. A user-oriented virtual data room usually offers a few billing options, such as by credit card or bank transfer. Additionally, good virtual data room providers offer several payment alternatives: monthly, quarterly, and annual payments. The more flexible the billing system is, the more likely the virtual data room is pricier.
- Third-party tool integrations. Many VDR providers offer third-party tools integrated into their products. This significantly improves the user experience, since VDR users can utilize other software solutions without leaving the data room. The most common integrations offered by modern virtual data rooms include Microsoft Office, Google Drive, Gmail, Dropbox, Salesforce, and various single sign-on services such as OneLogin, Azure AD, or Okta.
- Customer support quality. Getting high-quality and timely assistance any time you experience trouble when using a virtual data room is priceless. Providers with premier customer support usually are pricier, but by choosing such VDRs, you can rest assured that all your queries will be treated as a number one priority. A good virtual data room offers 24/7 support via phone, chat, and email, and offers assistance in multiple languages and provides unlimited training for all users.
- Storage space. Often, virtual data rooms charge per cloud storage capacity. Obviously, the more storage you need for your project or deal management, the more expensive a data room will be. The storage capacity VDR providers offer can range from 1 GB to a few TBs.
- Number of users. The more users you need to add to a virtual data room, the more expensive the data room subscription. Virtual data rooms that target small businesses and startups will typically cost less because fewer people are involved, while virtual data rooms created for deal-making will commonly be pricier.
- Number of projects. The same approach applies to the number of projects. If you need a virtual data room for managing multiple deals simultaneously, the price will be higher. On the other hand, if you need a virtual data room to manage only one project or deal, the VDR services might be less expensive.
- Number of administrators. Virtual data room administrators are responsible for managing user permissions, documents, and everything related to the ongoing project or deal. Administrators usually have access to everything in a virtual data room. The more admins you need for your project, the pricier a virtual data room will be for you.
- Features. This is one of the most important factors that influence data room pricing. The variety of features offered by modern virtual data room providers varies greatly, and it’s reflected in the price of a VDR. The more services a particular provider offers, the more expensive it’s likely to be.
- Security. This is the key factor influencing virtual data room pricing and users’ choice. A highly secure virtual data room can’t be cheap, so if you’re looking for a secure environment for your confidential data, be ready to pay more for peace of mind.
What are the VDR pricing structures?
Modern virtual data rooms offer different pricing structures that are based on various approaches. Let’s review the most common VDR pricing structures.
Though being rather outdated, some VDR providers still offer a per-page pricing structure.
The per-page approach to pricing is based on users paying for every single page they upload to a virtual data room. Naturally, such an approach can be too costly for large projects that have a lot of documentation to share and manage. However, it still can be a viable solution for small businesses that need a virtual data room for one small case.
The price per page can range from $0.40 to $0.85, depending on a particular data room provider.
The per-user pricing approach charges based on the number of users that will have access to the virtual data room.
Usually, virtual data room providers offer several subscription plans that include a set number of user licenses allowed. The number of users for each subscription plan depends on a particular vendor. However, providers charge extra for each additional user. Naturally, the more users you need for a project or managing a deal, the pricier the data room is.
Generally, the price for every additional user can range from $100 to $250.
In a storage-based pricing approach, users pay for the actual data storage used.
Therefore, the more GBs you require for sensitive data storing and sharing, the higher the VDR price.
Generally, modern virtual data rooms offer several subscription plans that include pre-configured storage capacities. Additionally, users can purchase extra GBs when needed.
The cost for one GB is usually around $70-75.
The per-feature pricing approach includes subscription plans that include a specified set of features.
The more features you require to manage your project, the pricier the plan. Sometimes, certain VDR providers offer features not included in a subscription for an extra fee.
The cost of an extra feature depends on a particular client and their requirements.
The flat rate pricing approach is the most common among virtual data room providers. It presupposes a fixed payment for a set number of users, administrators, projects, and storage size.
Typically, the cheapest subscription best fits smaller projects, while costly plans best suit larger projects. The cost is usually set per month, and clients can choose to pay monthly, quarterly, or annually.
The price ranges from $200 to $1000 per month, depending on the provider.
Data room pricing structures: Pros and cons
Naturally, each data room pricing structure comes with advantages and disadvantages. Below is a comparative table of the pros and cons of each approach and what companies can benefit from them.
|Per page||Perfect for small projects||Too costly when managing large volumes of documentation||Small companies and startups that don’t have large document flows|
|Per user||Perfect for projects that don’t involve many people||Too costly for managing complex deals with many parties involved||All-sized companies that need a VDR for short-term projects with a minimum number of people involved|
|Storage-based||Only pay for the storage you need and save money||Storage size limitations might become inconvenient if a project grows||All-sized companies that need a VDR for a short-term project without heavy documentation flows|
|Per feature||Only pay for the features you need and save money||You can’t be 100% sure of which features you might need||Small- and mid-sized companies that know what features they require for a project|
|Flat rate||Clear pricing with no hidden costs||Might be pricey when paying annually||All-sized companies with various objectives|
How to get discounts when buying a VDR?
Many virtual data room software providers offer discounts that save customers money. Below are several of the most common ways you can get a discount when paying for virtual data room solutions.
|Long free trial||During a free trial, users can use all VDR services without limits. Not only does it allow for testing the product before committing to a subscription, but it also allows starting the deal management for free. A free trial usually lasts for 14 or 30 days.|
|Provider’s discounts for multiple users||This is applicable when you need a VDR to manage a large project with many parties involved. Paying for every extra authorized user wouldn’t be cost-effective, that’s why many VDR providers offer discounts for multiple users.|
|Seasonal discounts||There are many virtual data rooms that offer seasonal discounts that aren’t based on any particular aspect but always allow customers to save money.|
|Provider’s discounts for annual payments||When paying annually, you usually pay a lower monthly price, which offers significant savings.|
How to choose the most cost-effective virtual data room in 5 steps?
Considering the variety of virtual data rooms in the market, choosing the most cost-effective solution might be challenging. To decide effectively, follow these recommendations.
1. Clearly identify your needs
To find the best solution, you should clearly know what you need.
Think of what problems you want a virtual data room solution to solve, in what area of business, and by what means. When searching for the most cost-effective deal room, you should make sure a particular vendor is capable of helping you. This way, you won’t pay for the things you won’t use.
2. Consider the features you need
It is not always easy to know the features you might need to manage your deal or project, especially if you’ve had no experience with virtual data rooms before.
However, by identifying the features that help you with secure document and file sharing, you can then search for them, without paying for services you don’t need.
3. Define who will need access to the virtual data room
Most virtual data rooms offer subscription plans that include a specific number of users and admins. That’s why it is important to know how many people will be involved in your project or deal since it influences the price directly.
4. Think of terms
You should understand for how long you’ll need a virtual data room — for a single short-term project or long-term objectives such as due diligence process. It’s essential since when paying annually, you can get a discount, and the price per month will be lower than when paying monthly.
5. Compare options
Select a few providers and review them. Talk to the support team to learn how helpful and approachable it is and ask for training. Inspect whether each vendor has all the services and advanced features you need for your project or deal. Additionally, make sure that offered services justify the price. After selecting your favorite, opt for a free trial before committing to a long-term subscription.
The virtual data room pricing of modern providers differs depending on many factors — from the number of users to the overall ease of use and quality of customer support. The price can range from a few hundred to a few thousand dollars.
The most common VDR pricing structures are per page, per user, storage-based, per feature, and flat rate pricing.