The cost of a virtual data space is contingent on a variety of variables, including the storage capacity, features, and the number of users. Some vendors charge a flat monthly or annual cost that includes unlimited storage and access for all users, while others charge per user, megabyte or for certain features. The best method is to determine the functions your company will require from a VDR and then compare them to the options available. Consider whether you need additional support services such as training or consulting, which is usually 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 will work on them. You may find that a per-user pricing system is less expensive for small projects and smaller teams as you’ll be able to avoid the danger of exceeding your storage limit and incurring overage charges.
Another aspect to consider is the security of the platform that the vendor uses and what features are available to help you manage your transaction. Certain providers offer multi-factor authentication, detailed document permissions as well as remote shredding. Others offer features like watermarking, redaction and remote shredding. The more advanced security measures that are available, the more expensive of the vendor’s plan.
You should also take into consideration the level and quality of customer service offered by each vendor. You should expect a quick response to any queries and you should look for vendors that provide 24 hour support in several languages. The staff of the vendor should be well-versed in the technical details of the solution.
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