Why some virtual data rooms are expensive and others are not?

The advantages of virtual data rooms for companies are obvious. But what about their prices? What costs can you estimate for data rooms? This article will review the essential characteristics of the data room pricing policy.

The purpose of using a data room software

Any company usually uses many different tools for document management, data storage, task management, customer accounting, and communication within the company. As a rule, this is Dropbox or Yandex disk, Skype or ICQ, some CRM for managing clients, a task manager, and much more. Disparate tools require a lot of effort to maintain and configure; connecting new employees takes time. In addition, there are difficulties with finding the correct information and the interaction between these tools. For a long time, there has been a solution that combines all these tools – it is a virtual data room. This service was created to automate deal management processes, save time for each employee and maximize comfort, where everything is concentrated on a single resource.

A data room platform is a must-have for any company. Entrepreneurs control the company’s processes, collect customer information, and improve business processes. The platform acts as a task manager for employees: all tasks are collected in one place, and task or call reminders help you remember deadlines and clients.

Data room capabilities for deal management

There are 2 main components of the digital data room:

  • The operational component is the automation of essential business processes (marketing, sales, service). The work of these departments is closely interconnected; therefore, to increase the efficiency of the company, it is important that each employee of these departments has a standard view of the client: he sees the client’s personal data, the history of the relationship between the client and the company (when the client was last contacted, which of the products the client purchased, was whether satisfied, etc.).
  • Analytical component – data analysis about the client and his behavior using business intelligence tools (Business Intelligence). Such a system allows you to analyze customer data collected in the operational data room to identify tools that will improve customer relationships. The analysis results can be used to evaluate the effectiveness and planning of marketing campaigns, ascertain the degree of customer satisfaction, prevent customer abandonment, etc.

In general, a digital data room allows a company to increase its profitability by retaining valuable customers, developing their loyalty, and actively attracting new customers.

Data room pricing policy

The modern IT market offers many reliable data room solutions. However, to use a digital data room sensibly, you need to understand the structure of the price tariffs. The solutions for data room users are selected individually by each VDR provider and differ in terms of functions, application sectors, and technical features. Accordingly, the prices for using the electronic data rooms are determined based on the services offered by the provider.

In most cases, the price of the software depends on the following points:

  • number of users;
  • project count;
  • storage space;
  • additional functions.

In addition, different plans also provide different offerings such as email advice, enhanced security, board portals, and centralized user management. The data room prices are designed based on the application fields. If you need a digital data room for the local project, you will get a good solution for project work from Ansarada, Firmex, Onehub, Box, etc. If you want to carry out an extensive transaction, the solution for the company-wide implementation is available to you. In this case, they are iDeals, Intralinks, Digify, and Securedocs.