The cost of a virtual storage space depends on the capabilities, features, functionalities, project size, duration, and amount of storage that is required. Pricing typically consists of a basic price and additional charges for extra features. The number of users can also affect the price. Certain vendors offer subscriptions that contain the amount of administrative users. However, they charge extra for any additional users.
Moreover, there are some providers who charge per page or based upon the number of documents. These pricing models can be efficient for small-scale projects with only a small number of documents. However, they aren’t appropriate for sudden or unplanned projects that have a large number of pages or documents as they can result in high cost of overage and invoices.
Some vendors offer a flexible storage option that can be adapted to the size of your project. This is typically more expensive than fixed quota plans, however, it allows you to avoid overage and other expensive costs.
Many VDRs come with integrations that aid in workflows that are streamlined and share files which makes them an effective tool in the due diligence process. Some of these integrations may even help you cut costs by streamlining how your team works and by reducing manual tasks.
Ensure the VDR you select is easy to use and easy to understand for all users. It should support multiple file formats that means you don’t have to convert them before uploading. Also, you should select a provider that provides granular access settings to control who is able to access and view your files.
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