The cost of a virtual data space is contingent on many factors that include the capacity of storage, features and the number of users. Some providers charge a flat rate per month or for a whole year that includes unlimited storage for all users. Others charge per user, megabyte, or for the entire set of features. Compare the options available and decide what features your team requires from the VDR. Consider whether you’ll require additional support services such as training or consulting, which are typically included in the cost of the VDR.
When evaluating cost, you should consider the number of documents you’ll need to store and the length of time you’ll need to work on them. Per-user pricing plans can be cheaper for smaller teams or projects with a short duration, as you won’t have to be concerned about exceeding storage limits or incurring additional costs.
A third aspect to take into consideration is the security of the platform that the vendor uses and what features are available to assist you in managing your transaction. For instance, some providers provide multi-factor authentication, as well as specific document permissions, whereas others offer features such as watermarking, redaction and remote shred. The more sophisticated security features, the higher the cost of the vendor’s plan.
Finally, you should consider the quality of customer service that each vendor provides. You should anticipate a quick responses to any questions and look for vendors that provide 24/7 assistance and support in multiple languages. The vendor’s staff should also be aware of the technical details of the solution.