News Details

Companies make switch to Veeva OpenData to overcome longstanding data quality challenges

PHILADELPHIA--(BUSINESS WIRE)-- 2017 Veeva Global Commercial & Medical Summit — Veeva Systems (NYSE:VEEV) today announced 100 customers have adopted Veeva OpenData. Life sciences companies, including Allergan (NYSE:AGN), have moved to Veeva OpenData for more up-to-date and complete customer reference data. Veeva OpenData provides access to approximately 20 million healthcare professionals (HCPs) and their healthcare organizations (HCOs) spanning 39 countries. With the right customer data where teams need it, sales and marketing can improve execution and customer engagement.

“We made the switch to Veeva OpenData in the U.S. so commercial teams could have the timely, complete customer data they need to make real-time decisions about sampling and detailing,” said Patrick Retif, vice president of IT for Allergan. “Veeva’s world-class data stewardship organization keeps information continuously up-to-date so our teams are working from the most accurate, highest quality data.”

“The industry recognizes that quality data is foundational to successful commercial execution and increased sales and marketing efficiency,” explained Rebecca Silver, global vice president of Veeva OpenData. “Companies are switching to Veeva OpenData to close the gap between the quality of their customer data and what is needed in a multichannel commercial environment to drive effective engagement with their many stakeholders.”

A recent Veeva survey showed that the majority of companies struggle with their data quality issues. Incorrect physician addresses, not knowing which doctors to contact, or outdated information about specialty and license status create frustration among field teams and impact efficiency. Bad data can also lead to compliance risks. That’s why 78% of companies have initiatives underway to improve data quality within the next two years.¹

Veeva OpenData delivers comprehensive information that continuously incorporates field data change requests to supplement its data sources, resulting in fresh and accurate data. As data changes are submitted by the field, they are properly validated by Veeva data stewards and updated in hours versus the industry average of 10 or more days. Companies can drive the right interactions with HCPs, be more productive, and maintain compliance.

About Veeva OpenData

Veeva OpenData provides comprehensive and accurate HCP, HCO, affiliations, email, and compliance data, right where customers need it. Veeva OpenData can help customers achieve greater commercial success and enable everything from multichannel customer engagement to compliant interaction. Today, Veeva OpenData provides access to approximately 20 million HCPs and their HCO affiliations, covering all specialties and classes of trade, spanning 39 countries.

Additional Information

See the infographic on commercial operations data requirements: veeva.com/DataSpotlight

For more on Veeva OpenData, visit: veeva.com/OpenData

Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems

Follow @veevasystems on Twitter: twitter.com/veevasystems

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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 500 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 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-K for the period ended January 31, 2017. This is available on the company’s website at veeva.com under the Investors section and on the SEC’s website at 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.

¹ “Veeva 2016 European Customer Data Survey.” Veeva Systems. January 2017.

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Source: Veeva Systems Inc.