More than three out of four are unable to track where claims and
content are in use or can’t electronically withdraw outdated content
from multiple channels
PLEASANTON, Calif.--(BUSINESS WIRE)--
Preliminary findings from the Veeva
2015 Life Sciences Promotional Content Management Survey uncover
significant gaps in the industry’s ability to efficiently manage
promotional content from creation and review to expiration and
withdrawal. The goal of the survey is to chart the progress and identify
the impact of moving from paper-based and stand-alone promotional
content management processes to automated, end-to-end methods.
Over the past decade, the industry has made great strides transitioning
away from paper, but in discrete areas. More than half of respondents
(52%) have automated the review and approval portion of their
promotional materials management process. Yet, most report that they are
missing some, if not all, capabilities fundamental to compliance.
The vast majority (81%) of respondents cannot report on where claims and
content are in use, and 77% are unable to withdraw expired or outdated
content from multiple channels, even though three out of four say these
capabilities would improve compliance (76% and 78%, respectively).
Almost half (49%) of respondents do not have primary systems that
provide an end-to-end audit trail to manage promotional content
throughout its lifecycle, while most report that this capability would
improve compliance.
In an effort to bridge these compliance gaps, companies continue to rely
on an array of systems – from basic paper-based systems to newer
promotional content management systems – to support the full content
lifecycle. Most surveyed (88%) say they still rely on multiple systems
and methods to manage promotional content, indicating various break
points in their promotional materials management process. On average,
four systems are in use and 31% of respondents have between five and 20
systems.
However, users of end-to-end solutions that automate processes across
the digital supply chain report significantly higher satisfaction with
their primary systems. Notably, 100% of those using end-to-end systems
report satisfaction with adherence to compliance requirements across
channels. Meanwhile, among those not using end-to-end systems, only 54%
say they are satisfied with their primary systems. Additionally, 88% of
end-to-end system users are also more likely to be satisfied with their
ability to electronically withdraw outdated content from multiple
channels versus just 62% of all other respondents.
“Companies need greater control of promotional content management
processes within a single system,” said John Chinnici, vice president,
Veeva Vault PromoMats. “Leading companies are moving to solutions that
manage the full promotional content lifecycle, helping them automate
every step in an asset’s lifecycle, reducing the need for multiple
systems and improving compliance at every turn.”
The results of the Veeva
2015 Life Sciences Promotional Content Management Survey: Preliminary
Findings will be presented at the Promotional Review Committee
Compliance & Best Practices conference on Tuesday, October 27 at 2:20
p.m. EDT. Conference attendees can also visit Veeva’s booth for a copy
of the report.
Additional Information
For more on Veeva Vault PromoMats, visit: veeva.com/PromoMats
Stay
updated on the latest Veeva news on LinkedIn: linkedin.com/company/veeva-systems
Follow
@veevasystems on Twitter: twitter.com/veevasystems
Like
Veeva on Facebook: facebook.com/veevasystems
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 300 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 Veeva’s products and services, the results
from use of Veeva’s products and 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 July 31, 2015. This is available on the
company’s website at http://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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151027005517/en/
Source: Veeva Systems Inc.