Veeva Unveils a New Approach to Customer Reference Data that’s Open,
Easy, and Global
Ecosystem of Veeva OpenData Partners Align to Make Using Customer Data
Seamless and Cost-Effective
PLEASANTON, Calif. & BARCELONA, Spain--(BUSINESS WIRE)--
On opening day of eyeforpharma Barcelona 2015, Veeva Systems (NYSE:
VEEV) announced Veeva
OpenData, a new approach to customer reference data for the life
sciences industry. Veeva OpenData builds on Veeva’s growing presence in
the data business with a bold vision to provide customer data for all
healthcare professionals (HCP), healthcare organizations (HCO), and
affiliations across life sciences’ major markets—and to do so with
consistent standards for quality and service.
Veeva also announced the Veeva
OpenData Partner Program, which establishes a partner ecosystem
designed to make it easy for life sciences companies to access and
maximize their customer data. Today, companies’ ability to fully
leverage the customer data they purchase is hampered by restrictive
vendor contracts that limit usage and access. With data access
agreements and partnerships in place with other third-party providers,
Veeva OpenData eliminates those complications.
“Veeva is dedicated to solving the customer data challenges for life
sciences organizations, with a customer-first approach to quality and
service,” said
Tim Slevin
, senior vice president of Veeva’s global data
solutions business. “This starts with freeing companies of the
constraints preventing them from reaping the full benefits of their
customer data and our commitment to deliver an offering that provides
truly global support.”
Survey Reveals Need for Data That is Open, Easy, and Global
Currently, 83 percent of life sciences executives surveyed report the
quality of their customer data is a significant challenge, according to
preliminary results of the Veeva 2015 European
Life Sciences Industry Survey on Customer Data.i
More than one in four say they are dissatisfied with the service they
receive from their current data provider, and just 12 percent say
incumbent providers have innovated to deliver high-quality data
solutions.ii
Veeva OpenData will provide a faster, more responsive service with a
consistently high standard for quality across regions. Veeva OpenData
will make it easy for companies to use the data they need—wherever,
whenever, and however they need it, without the burdensome contractual
restrictions that exist in the customer data market today. In addition,
the solution’s fair, simple pricing is free of complicated conditions or
surprises.
In the face of changing regulations and more stringent reporting
requirements, the need for consistent, cross-border customer data has
never been more acute. Less than a year away from the January 2016
European Federation of Pharmaceutical Industries and Associations’
(EFPIA) payment disclosure deadline, only 39 percent of companies
surveyed definitively report that their customer data allows them to
accurately track or aggregate spend at the HCP level.iii And
only 29 percent have data that fully allows them to manage HCP
engagement activity across regional or country borders.iv
To eliminate the burden of managing multiple data feeds and duplication
of HCP and HCO records across European markets Veeva OpenData Customer
Data will be sourced locally and consolidated into a single global
reference database.
"Life sciences companies struggle to maintain timely, complete customer
data across their internal systems, resulting in significant compliance
and customer engagement challenges,” said
Eric Newmark
, program
director, Business Systems Strategies for IDC Health Insights. “Much of
the challenge stems from their inability to integrate and fully utilize
the data they purchase today. More open access to quality data and
partner ecosystems that work together to ensure access is seamless for
customers is something the industry desperately needs."
“We are proud to partner with Veeva as they continue their journey
towards a vision of providing the most comprehensive data and service
solutions for the life sciences industry,” said
Robert Bryant
, partner
at Deloitte. “We have worked with Veeva on early Veeva OpenData customers
and have been impressed with the solution and vision.”
About Veeva OpenData
Central to the Veeva OpenData data and services offerings is Veeva
OpenData Customer Data, which includes records for millions of HCPs,
HCOs, and affiliations. Customer records are continuously updated from
authoritative industry sources for the best, most timely information,
including digital profile data crucial to today’s multichannel
engagement. The highest standards of quality and completeness are
ensured through rigorous, automated, and steward-led validation. Veeva
also provides a range of data maintenance services including cleansing,
enhancement, and validation.
To help the industry realize greater value from customer data, a large
and growing contingent of organizations have already become Veeva
OpenData partners, including Axtria, BMI SYSTEM, Crossix Solutions,
Decision Resources Group, LiquidHub, OpenQ, Symphony Health Solutions,
Qlik, and Zephyr Health.
Veeva OpenData Customer Data and services are currently available in
Australia, China, the United Kingdom, and the United States.
Availability for other major European countries is expected in 2015,
with other regions to follow in 2016.
About Veeva Systems
Veeva Systems Inc. is a leader in cloud-based software for the global
life sciences industry. Committed to innovation, product excellence, and
customer success, Veeva has more than 275 customers, ranging from the
world's largest pharmaceutical companies to emerging biotechs. Veeva is
headquartered in the San Francisco Bay Area, with offices in Europe,
Asia, and Latin America. For more information, visit www.veeva.com.
Forward-looking Statements
This release contains forward-looking statements, including the market
demand for and acceptance of the Veeva OpenData data products and related
services, plans for expanding the geographic coverage of the Veeva
OpenData data products and related services, the results from use of the
Veeva OpenData data products and related services, and general business
conditions, particularly in the life sciences industry. Any
forward-looking statements contained in this press release are based
upon Veeva's historical performance and its current plans, estimates and
expectations and are not a representation that such plans, estimates, or
expectations will be achieved. These forward-looking statements
represent Veeva's expectations as of the date of this press
announcement. Subsequent events may cause these expectations to change,
and Veeva disclaims any obligation to update the forward-looking
statements in the future. These forward-looking statements are subject
to known and unknown risks and uncertainties that may cause actual
results to differ materially. Additional risks and uncertainties that
could affect Veeva’s financial results are included under the captions
“Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” in the company’s filing on Form
10-Q for the period ended October 31, 2014, which is available on the
company’s web site at www.veeva.com
under the Investors section and on the SEC’s website at www.sec.gov.
Further information on potential risks that could affect actual results
will be included in other filings Veeva makes with the SEC from time to
time.
i Veeva Systems, “European Life Sciences Industry Survey on
Customer Data, Summary of Preliminary Results,” March 2015.
http://www.veeva.com/resources/european-life-sciences-customer-data-survey/
ii ibid.
iii ibid.
iv ibid.
Source: Veeva Systems