Veeva Systems Inc. Strengths, Domain Expertise, and Key Differentiators
Veeva Systems is a provider of industry cloud solutions for the life sciences industry. Its products are designed to help life sciences companies with some their most critical functions — from R&D to commercial — in bringing products to market faster and more efficiently, marketing and selling them more effectively, and maintaining compliance with government regulations. Veeva’s industry cloud solutions provide data, software, and services that address a broad range of areas, including multichannel customer relationship management, content management, master data management, patient data, and customer data. Its largest product lines are Veeva CRM for multichannel customer relationship management and Veeva Vault for content and data management. Veeva CRM, built on the Salesforce platform, enables companies to market and sell more efficiently, effectively, and compliantly to healthcare professionals and healthcare organizations across multiple communication channels, including in-person and digital. Veeva Vault is a content and data management platform and suite of applications — including clinical, quality, regulatory, medical, and commercial — that help companies increase business agility, speed time-to-market, and better meet regulatory requirements.
Veeva Systems Inc. Recent Developments
In October 2019, Veeva Systems released Veeva SiteVault Free, a free eRegulatory solution built specifically for clinical research sites. Veeva SiteVault allows sites to more effectively manage regulatory documents and trial processes to speed study activation and improve investigator site file management. Now all sites can have access to a modern cloud solution to streamline trial activities and accelerate clinical research.
In August 2019, Veeva Systems released a new quality risk management (QRM) capability in Veeva Vault QMS. With QRM capabilities now available in Vault QMS, quality risk management is automated and unified with existing quality management processes to manage quality across the product lifecycle. Vault QMS allows companies to proactively assess and manage all types of risks and prioritize resources across multiple areas – all in a single system. Now organizations can have complete visibility into quality processes to enhance patient safety and remain compliant with global regulations. Veeva Systems released Veeva Vault Safety.AI, a new artificial intelligence (AI) application that automates case intake to reduce the time and effort of manual data entry for more efficient case processing. Together with Vault Safety and Vault SafetyDocs, Veeva offers the first integrated suite of cloud applications on a common platform to manage the end-to-end drug safety lifecycle, from case intake and adverse event processing to authoring and submissions. Veeva Systems released Veeva CRM’s real-time architecture and Autosync capability which ensures all information is consistent across all devices. Activity, customer, and product data will automatically synchronize and always be available from any Apple and Windows phone, tablet, and laptop. With advanced mobile innovations in Veeva CRM, field teams can access the information they need for improved execution and productivity.
In May 2019, Veeva Systems launched Veeva Andi, a new artificial intelligence (AI) application that embeds tailored insights and suggestions right in Veeva CRM for intelligent customer engagement. We also announced Veeva Vault Auto Claims Linking, a new AI capability in Veeva Vault PromoMats that will help improve speed and compliance of content development. Vault Auto Claims Linking uses AI to suggests links from claims to related references, reducing the administrative burden and risk of managing claims across countries, channels, and assets.
In April 2019, Veeva Systems introduced Veeva Vault Station Manager, a new mobile application in the Veeva Vault Quality Suite that provides manufacturing operators up-to-date content directly on the manufacturing floor. Vault Station Manager delivers documents and videos, including critical work instructions and procedures, from Veeva Vault QualityDocs to tablets located at manufacturing stations. Now organizations can enable a connected shop floor to make manufacturing operations more agile and adapt to changing business requirements with greater speed.
Veeva Systems Inc. Mergers and Acquisitions (M&A) Activities
In November 2019, Veeva Systems acquired Crossix Solutions. Crossix provides privacy-safe U.S. patient data and a best-in-class analytics platform to help maximize media and marketing effectiveness. The Crossix analytics platform provides technology that connects health and non-health data for more than 300 million U.S. patients to drive greater marketing effectiveness. Data includes Rx, OTC, clinical, claims, consumer, hospital, media data, and more – all of which are protected by best-in-class privacy safeguards.
In November 2019, Veeva Systems acquired Physicians World, a leading provider of speakers bureau services. Veeva and Physicians World are joining forces to meet the industry’s need for a complete solution to plan and execute live and virtual events for healthcare professionals. Together, the companies are combining industry-leading cloud software and services to streamline events management and compliance. Physicians World is a trusted provider of full-service speakers bureau logistics in the U.S. for life sciences companies of all sizes. Veeva CRM Events Management provides more than 70 customers of modern cloud software to manage in-person and digital events. Bringing together industry-leading software and services gives customers a single end-to-end offering for planning and compliance that is easy to use and flexible. Veeva will continue to give customers choice in working with other speakers bureau providers and support an open partner program to integrate and certify services offerings with Veeva CRM Events Management. Veeva CRM Events Management is fully integrated with Veeva CRM to deliver complete customer insight and a coordinated, personalized experience with speakers and attendees.
Veeva Systems Inc. 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 Inc. 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 Inc. 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 Network Customer Master, Veeva OpenData, Veeva Vault customers.
Veeva Systems Inc. Overview
Ownership: - VEEV : NYSE
Number of Employees: 3501
Key Verticals: Life Sciences,
Veeva Systems Inc. Key Enterprise and Cloud Applications
Veeva CRM, Veeva Network Customer Master, Veeva OpenData, Veeva Vault
Veeva Systems Inc. Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* 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 Inc. Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
Veeva Systems Inc. Enterprise Applications Revenues By Functional Markets, $M:
Veeva Systems Inc. Enterprise Applications Revenues By Verticals, $M:
Veeva Systems Inc. Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
Veeva Systems Inc. Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Veeva Systems Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of Veeva Systems Inc. Customers: 875
No. of Veeva Systems Inc. Enterprise Applications Customers: 875
No. of Veeva Systems Inc. Cloud Customers: 875
No. of Veeva Systems Inc. Cloud Subscribers: x
Veeva has 813 customers ranging from the largest global pharmaceutical and biotechnology companies, including Bayer AG, Boehringer Ingelheim GmbH, Eli Lilly and Company, Gilead Sciences, Inc., Merck & Co., Inc., and Novartis International AG, to smaller pharmaceutical and biotechnology companies.
As of January 31, 2020, 2019, and 2018, Veeva served 861, 719, and 625 customers, respectively. As of January 31, 2020 and 2019, Veeva had 390 and 335 Veeva Commercial Cloud customers, respectively, and 715 and 574 Veeva Vault customers, respectively.
Veeva Systems Inc. Market Opportunities, M&A and Geo Expansions
Veeva continues to benefit from the onslaught of contract research organizations that have served as the key enablers of new product development on behalf of major life sciences companies. In October 2018, Veeva launched its first application specifically built for clinical research centers, Veeva Vault SiteDocs. The new solution will help sites more effectively manage regulatory documentation and trial information to speed clinical research. Now clinical research centers can reduce the administrative burden of executing studies by streamlining document and trial processes for site qualification, study activation, and investigator site file management.
In December 2019, Veeva presented new innovations in Veeva CRM that give business users greater flexibility for improved collaboration and flexibility. Salesforce Lightning business apps for Veeva CRM will provide tailored capabilities for different business users built on Salesforce Lightning, a next-generation online user interface. Veeva CRM will deliver the customized information users need based on their roles, improving productivity and efficiency. Users that play multiple roles have the flexibility to switch between Lightning business apps to view the data they need for various tasks. Salesforce Lightning business apps for Veeva CRM is planned for availability in February 2020. Veeva CRM Approved Notes will be a new capability included in Veeva CRM that allows field reps to compliantly capture detailed notes of customer interactions. AI in Veeva CRM will help automatically detect potential compliance risks such as off-label messaging. With the freedom and flexibility to capture rich notes, reps can build stronger relationships and drive smarter, more informed customer interactions with lower risk. Veeva Approved Notes is planned for availability in 2020. Veeva CRM Approved Messaging will open up new digital channels for reps to engage in relevant, timely interactions with healthcare professionals. Companies can use messaging applications, including WhatsApp and WeChat, to send compliant messages to customers through any mobile device. Messaging now gives reps another digital channel to reach and engage HCPs and drive personalized customer experience. Veeva Approved Messaging is available today for WeChat. Availability for WhatsApp is planned for 2020. Veeva CRM Dynamic Attributes enables sales operations and field managers to temporarily add new HCP and HCO attributes in Veeva CRM without IT support or changing the underlying data model and system metadata. This brings the simplicity of a shared spreadsheet into CRM to improve collaboration with the compliance organizations require. Now business users have greater flexibility to customize Veeva CRM and quickly capture the information their teams need such as detailed targeting and customer segmentation for go-to-market planning. Veeva CRM Dynamic Attributes is planned for availability in January 2020.
In December 2019, Veeva Systems introduced Veeva OpenData Explorer and Veeva OpenData API to give the industry even greater flexibility to use their customer reference data in the way that best meets their business needs. Veeva OpenData Explorer, a new web-based portal to access approximately 16 million healthcare professionals (HCPs), healthcare organizations (HCOs), and their affiliations spanning 34 countries. The open API simplifies the integration of Veeva OpenData with third-party applications and services so companies can leverage their customer data where they need it. With these latest innovations, Veeva is giving customers greater choice in how they use Veeva OpenData and making it even easier to access accurate customer data.
In May 2018, Veeva Systems announced Veeva Nitro, a new commercial data warehouse for life sciences. Veeva Nitro is a global solution that meets organizations’ unique regional requirements, including specialized data sources and business processes. Its extensible data model is based on deep industry best practices, while seamless integration with Veeva CRM Suite and Veeva Vault PromoMats automatically sync all customer activity data and information about a company’s content and its usage into the data warehouse. Veeva Nitro is analytics-ready so companies can get business insights faster. With Veeva Nitro, the industry will finally have the right commercial data foundation for artificial intelligence (AI) and analytics to deliver business insights faster.
Veeva Systems Inc. Risks and Challenges
The markets we participate in are highly competitive and if we do not compete effectively, our business could be adversely affected. If our security measures are breached, customers may stop using our solutions and we may incur significant liabilities.
Veeva Systems Inc. Ecosystem, Partners, Resellers and SI
Veeva sells its solutions via its direct sales force. In addition, Veeva has a collaborative business model that enables us to extend the value we provide to customers through integrated solutions, rich data, targeted content, and extensive service offerings. Global systems integrator partners also deliver implementation and selected support services to customers who wish to utilize them. Veeva's systems integrator partners include Accenture, Cognizant Technology Solutions, Deloitte Consulting, and other life sciences specialty firms. Veeva also has a broad ecosystem of technology and data partners with proven life sciences products, services and high quality integrated solutions including Adobe, AWS, Cvent, DRG, MMIT, Microsoft, MuleSoft, Okta, Salesforce, SAP Concur, Zoom, Aktana, HSE, OwnBackup, Qlik, Tableau, Trifecta Clinical, Trustrack and more.
Veeva’s content partners comprise a strategic network of 400+ agencies, trained and supported to develop content for delivery through Veeva’s multichannel products. Content partners span a broad number of life-science disciplines developing material for commercial, medical, consumer health and market access clients. In addition to strategic partnerships, Veeva has developed certification paths for partners. For example, the CRM MyInsights, Vault PromoMats, and Veeva OpenData certification programs elevate the expertise and knowledge of our partners and set them up for successful customer engagement.
Veeva Systems Inc. Cloud Infrastructure Insights
Subscribe to read more about:
- Veeva Systems Inc. Public Cloud and Infrastructure (IaaS)
- Veeva Systems Inc. Platform (PaaS)
- Veeva Systems Inc. Application Delivery
- Veeva Systems Inc. Private Cloud and Data Centers
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:https://www.appsruntheworld.com/About Us
Copyright © 2021, APPS RUN THE WORLD