Nearly two-thirds of respondents unable to distribute content across
channels, yet 78% say it’s crucial
PLEASANTON, Calif.--(BUSINESS WIRE)--
Released today, the full findings from Veeva
2015 Life Sciences Commercial Content Management Survey reveal
the industry’s patchwork approach to commercial content management is
having a substantial impact on compliance and speed to market. The
global survey of more than 250 commercial leaders shows striking
deficiencies across the digital supply chain – from content creation and
review to expiration, distribution, and withdrawal.
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Despite the proliferation of digital channels, the majority (60%) of
respondents to the industrywide survey cannot electronically distribute
approved commercial content across multiple channels though most (78%)
see it as crucial to improving time to market. Withdrawal of content is
also a challenge, as nearly half (48%) of respondents still manually
handle withdrawal.
The research also found many respondents (70%) lack a centralized,
global digital asset management system, which can result in slower time
to market and increased commercial content management costs.
Additionally, 83% of respondents share commercial content with
stakeholders via inefficient methods. For example, more
than half rely on email to complete at least one or more tasks such as
review and approval and content distribution, while 41% still use
paper-based processes for certain functions.
These commercial content management shortcomings are exacerbated by
increased volumes of content, additional communications channels, and a
larger, more diverse group of stakeholders. The result is progressively
longer content development cycles.
“The industry is churning out content at an incredible pace today, plus
each asset is often tailored to individuals and produced in multiple
formats to be leveraged across channels,” said John Chinnici, vice
president, Veeva Vault PromoMats. “Life sciences companies cannot
continue to rely on a patchwork of systems and paper-based processes in
this new, highly complex commercial paradigm and expect to meet
efficiency, timeline, and sales goals.”
The full survey follows the preliminary report released in October 2015,
which revealed deficiencies impacting compliance. The vast majority
(81%) of respondents, for instance, cannot report on where claims and
content are in use. Almost half (49%) do not have primary systems that
provide a full audit trail to manage commercial content throughout its
lifecycle, yet most report that this capability would improve compliance.
Results of the annual study demonstrate the urgent need for a single
commercial content management solution that provides complete visibility
across the digital supply chain in order to keep up with the rapidly
changing industry. Veeva Vault PromoMats provides a central, globally
accessible digital asset management system with full audit trail across
the digital supply chain plus electronic review, distribution, and
withdraw.
The Veeva 2015 Life Sciences Commercial Content Management Survey explores
the industry’s progress in transitioning to automated methods of
managing commercial content across the digital supply chain. Drawn from
the experiences and opinions of more than 250 regulatory, marketing, and
medical leaders worldwide, the goal of this research is to understand
the key capabilities required to speed commercial content time to
market, and maintain optimal compliance. Download the full report,
which details the current landscape of systems in use and charts the
progress in adopting systems to meet its speed and compliance needs.
Additional Information
For more on Veeva Vault PromoMats, visit: veeva.com/PromoMats
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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 375 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 October 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.
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Source: Veeva Systems Inc.