Veeva Systems Strengths, Domain Expertise, and Key Differentiators
Veeva stands out as the premier provider of industry cloud solutions tailored specifically for the global life sciences sector. Offering a comprehensive suite of cloud software, data services, and business consulting, Veeva caters to the diverse and critical needs of its clientele across various strategic functions, from research and development (R&D) to commercialization. Veeva's solutions play a pivotal role in accelerating product development and market entry processes for life sciences companies, driving efficiency and compliance throughout the product lifecycle. Moreover, their commercial solutions facilitate intelligent engagement with healthcare professionals and organizations through multiple communication channels, enhancing marketing effectiveness and regulatory adherence.
In addition to serving the life sciences industry, Veeva extends its expertise to customers in the consumer products and chemical sectors, providing content and data management solutions to streamline processes, ensure compliance, and foster secure collaboration across stakeholders.
Overall, Veeva's innovative offerings and industry-focused approach position it as a vital partner for companies seeking to navigate the complexities of regulatory compliance, operational efficiency, and strategic growth within the highly specialized realms of life sciences, consumer products, and chemical industries.
Veeva Systems Recent Developments
In April 2024, Veeva launched new AI features within its Vault CRM, including a CRM Bot and Voice Control. These enhancements are designed to improve field productivity by enabling context-driven tasks and hands-free operation. With these developments, Veeva is well-positioned to meet the changing commercial needs of the life sciences sector with deep applications that connect sales, marketing, and medical teams for customer centricity.
In January 2024, Veeva unveiled its latest offering, the comprehensive Veeva Compass Suite of commercial data products, aiming to provide enhanced insights into patient populations and healthcare professional (HCP) behaviors. Leading the suite are Veeva Compass Prescriber and Veeva Compass National, the first solutions capable of projecting retail prescriptions as well as complex medical procedures, such as in-office administered therapies, injections, and infusions. The Veeva Compass Suite goes beyond conventional data offerings by incorporating Compass Patient, which provides detailed longitudinal patient data covering prescriptions, procedures, and diagnoses. A key feature of these products is their licensing structure, enabling brands to access unlimited data, including historical information, to inform their strategies effectively.
Veeva launched Vault CRM as a specialized solution for the life sciences industry, building on the Veeva Vault Platform and incorporating core CRM functionalities alongside new innovations. The offering includes CRM Bot, an AI-powered assistant that draws on CRM activity data and insights from Veeva Link and Compass to support sales and medical teams, and Service Center, a call center application designed for inside sales and hybrid representatives, included at no additional cost. Complementing this, Veeva Data Cloud provides integrated data tools—OpenData, Link, and Compass—on a unified architecture, reinforcing its focus on delivering high-quality, industry-specific data solutions.
Veeva Systems Mergers and Acquisitions (M&A) Activities
In December 2021, Veeva Systems acquired Veracity Logic, a provider of cloud software for randomization and trial supply management (RTSM). The Veracity Logic team will join Veeva to deliver industry-leading software and services, helping companies simplify complex processes and expedite clinical trials. The solution, offered as Veeva RTSM, delivers fast setup timelines and a configurable feature set to meet a broad array of randomization and supply needs. It has supported over 175 trials with sites in 60 countries, covering a range of trial designs and complexities across all therapeutic areas in pharma/biotech, medical device, and diagnostics.
In August 2021, Veeva Systems acquired Learnaboutgmp, provider of accredited GxP training for life sciences. With more than 170 course titles and over 450 microlearning assets, Learnaboutgmp delivers a comprehensive eLearning library to help organizations develop high-impact learning programs that reduce cost and improve training outcomes.
Veeva Systems Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Veeva Systems applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Veeva Systems and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Veeva CRM, Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud customers.
Veeva Systems Overview
4280 Hacienda Drive
Pleasanton, CA, 94588, United States
1 925-452-6500
https://www.veeva.com/
Ownership: - NYSE:VEEV
Number of Employees: 7336
Functional Markets: Analytics and BI, Collaboration, Content Management, CRM, ERP Services and Operations, HCM, PPM, SPM,
Key Verticals: Life Sciences,
Veeva Systems Key Enterprise and Cloud Applications
Veeva CRM, Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud
Veeva Systems Revenues, $M:
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Total Revenues, $M | Subscribe | Subscribe | Subscribe |
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Veeva Systems Revenue Breakdown By Type, $M:
Veeva Systems Enterprise Applications Revenues By Functional Markets, $M:
Veeva Systems Enterprise Applications Revenues By Verticals, $M:
Veeva Systems Revenues By Region, $M
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EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
APAC | Subscribe | Subscribe | Subscribe | Subscribe |
Total | Subscribe | Subscribe | Subscribe | Subscribe |
Veeva Systems Direct vs Indirect sales
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Veeva Systems Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Veeva Systems Customers
No. of Veeva Systems Customers: 1477
No. of Veeva Systems Enterprise Applications Customers: x
No. of Veeva Systems Cloud Customers: x
No. of Veeva Systems Cloud Subscribers: x
In 2024, Veeva Systems continued to expand its customer base within the life sciences sector, serving a total of 1,477 customers. This includes 1,125 customers in R&D Solutions and 730 in Commercial Solutions. Additionally, Veeva's MedTech division was adopted by 18 of the top 20 medtech companies, including Bio-Rad Laboratories, Philips, and ZEISS Medical Technology. These companies utilize Veeva's Development and Commercial Cloud applications to streamline their product development and commercialization processes. These developments highlight Veeva's position as a trusted technology partner in the global life sciences industry.
Veeva Systems Market Opportunities, M&A and Geo Expansions
In 2024, Veeva Systems is set for significant growth, driven by strategic initiatives and technological advancements. The launch of the Veeva AI Partner Program allows partners to integrate Generative AI solutions with Veeva Vault applications, enhancing both efficiency and compliance across life sciences operations.
Internationally, Veeva has expanded its presence in China by partnering with six of the top 20 biopharmaceutical companies, strengthening its foothold in the Asia-Pacific region. Collaborations with industry leaders like Walgreens aim to improve patient outcomes by connecting community locations with diverse populations for easier access to clinical research. With a robust product portfolio and a commitment to innovation, Veeva is well-positioned to capitalize on the growing demand for digital transformation in the life sciences sector.
Veeva Systems Risks and Challenges
The migration of Veeva's CRM applications from the Salesforce platform to the Veeva Vault platform, coupled with the decision not to renew the agreement with Salesforce, Inc, poses significant risks to the company's operations and market position. This transition could lead to business disruptions for customers, potentially resulting in the loss of customers to competitors and negatively impacting Veeva's operating results. The timeline for migrating to the Veeva Vault CRM platform begins with some customers live in 2025 and most customers expected to migrate between 2026 and 2029. The complexity of the migration process and the necessity for all existing CRM customers to migrate by September 1, 2030, imply significant time and expense requirements, with no guarantee of success.
Veeva Systems Ecosystem, Partners, Resellers and SI
Veeva Systems has built a strong global presence through strategic partnerships and an extensive international network. Collaborations with industry leaders such as Merck, Walgreens, and DNAnexus enhance Veeva's ability to deliver integrated, cloud-based solutions for the life sciences sector. These partnerships support digital transformation, regulatory compliance, and improved patient engagement. Veeva operates in over 150 countries, with offices in North America, Europe, Asia, and Latin America, including key locations in Pleasanton, Barcelona, Shanghai, and São Paulo. This global reach allows Veeva to provide localized support and services, reinforcing its commitment to innovation and customer success around the world.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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