One of the reasons why virtual data rooms have gained popularity around the world is their affordability and the economic benefits of using them. This should come as no surprise – today’s market for virtual business platforms offers a very wide choice for any budget. However, many users, especially newbies, wonder where to find free data room application. We suggest that you learn the answer to this important question from our article.
Are there free virtual data rooms?
The question of free virtual data rooms may arise for those who haven’t yet decided on an innovation for their company and want to evaluate its usefulness for the company before buying. Many development companies offer their customers a free trial period, during which users have the opportunity to:
- Learn the features of the platform;
- Try and assess the usability of the interface and the set of options offered;
- Compare the functions and features offered by the developers with the requirements of their company.
- Thus you can significantly reduce the time required to find a virtual data room and refrain from a rash purchase.
However, trial versions of the platform cannot replace full-fledged data rooms that work on a free basis. And to the question of whether there are free virtual data rooms, we can answer – yes, there are. Here’s a list of the most popular free data rooms on the market today:
- Dotloop – one of the most popular platforms, which is ideal for companies in the real estate market and operates a high volume of transactions on a daily basis;
- Google Drive – a platform that needs no unnecessary introduction and can be used to set up fast and secure real-time corporate file sharing;
- Ftopia – a platform that provides a wide range of tools not only for sharing files quickly and securely, but also for storing them securely;
- Clinked – another cloud-based service that can be used to share data, audit documents and communicate with customers virtually around the clock;
- Koofr – an affordable platform with a good track record of integration and adaptation to the needs of different types of businesses with a simple interface and opportunities for employee training.
It’s worth keeping in mind that all of the free virtual data rooms can only be called that conditionally – most of them have paid features that may be more useful for your company.
What does virtual data room pricing depend on?
The cost of a particular virtual data room is influenced by a number of factors. Typically, the final price for services and use of a particular platform includes:
- The number of options and tools that customers can take advantage of;
- Additional services that the provider can provide – such as maintenance, data room installation and setup, and more;
- The size of the cloud storage that the company will use in the process.
In addition, not the least of the factors in shaping the cost of a virtual data room is the price of the development itself, which the providers put into the process of creating the software. So when choosing a data room, you should always keep in mind the effort that was expended by the developers in creating the platform for your company.