New Service Center in Veeva Vault CRM Suite Unifies Sales and Service
Rhea-AI Summary
Veeva Systems (NYSE: VEEV) has unveiled Veeva Vault CRM Service Center, a new addition to its Vault CRM Suite. This tool is designed for inside sales, contact center, and hybrid representatives in the life sciences industry. It offers case management, video calls, telephony integration, and industry-specific features like consent and sampling. The Service Center integrates with Microsoft 365, enhancing productivity through collaboration in Teams and OneNote.
The Vault CRM Suite aims to unify sales, marketing, medical, and service teams, eliminating silos and providing a customer-centric experience. It includes Vault CRM for sales and Campaign Manager for marketing, all built on the Vault Platform. The suite offers compliant omnichannel engagement, events management, and AI-powered insights. Over 15 companies are already using Vault CRM, with migrations for smaller customers starting in Q4 2024 and larger ones in early 2025.
Positive
- Introduction of Vault CRM Service Center, expanding Veeva's product offerings
- Integration with Microsoft 365, potentially increasing productivity
- Unification of sales, marketing, medical, and service teams on one platform
- 15+ companies already live on Vault CRM since April 2024 release
- Planned migrations for customers, indicating potential for increased adoption
Negative
- Migrations for larger customers not starting until early 2025, potentially delaying full adoption
- First large global top 20 biopharma expected to complete migration only by end of 2025, suggesting a lengthy transition process
News Market Reaction – VEEV
On the day this news was published, VEEV gained 0.71%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vault CRM Service Center now available for life sciences inside sales, contact center, and hybrid reps
Vault CRM Suite to unify sales, marketing, medical, and service for true customer-centricity
Service Center is part of Veeva Vault CRM Suite — along with Vault CRM for sales and Campaign Manager for marketing — all built from the ground up for life sciences on the Vault Platform. Unified in the same Vault means no more siloes among customer-facing teams as they work from the same customer data, content, and key processes to deliver a streamlined, customer-centric experience. For example, sales and marketing collaborate on campaigns for synchronized outreach, and all teams work from the same customer communication preferences and consent.
Vault CRM Suite helps customer-facing teams to execute better together amid greater complexity in medicines, stakeholders, channels, and go-to-market models, through:
- Vault CRM, the next generation of CRM for life sciences, which expands Veeva CRM's deep online and offline capabilities with enhanced productivity tools like streamlined account profiling and dynamic personalized content.
- Compliant omnichannel engagement, including Engage for compliant HCP chat and video, and Approved Email.
- Events Management for end-to-end event lifecycle management for all event types and related content, attendees, speakers, and expenses.
- Align for agile field planning, visual territory design, and territory management with integrated rosters, plans, and field feedback.
- Service Center for inside sales, contact center, and hybrid reps' inbound and outbound engagement across channels.
- Campaign Manager, coming December 2024, for marketers to execute omnichannel campaigns orchestrated with the field, including connected content for speed and reuse.
- Powering AI insights and processes, Vault Direct Data API delivers data 100 times faster than traditional APIs, and the AI Partner Program enables customers and partners to easily build specialized AI applications that integrate seamlessly with Vault applications.
- Core Capabilities span all Vault CRM Suite applications, including optimization for regional and global commercialization intricacies, Vault's core content capabilities for seamless content flow across teams and channels, and Common Data Architecture data standards.
More than 15 companies are already live on Vault CRM since its release in April 2024 to all new customers. Veeva CRM migrations will begin for smaller customers in Q4 this year. Some larger customers are planning to start their migration programs in early 2025. The first large global top 20 biopharma is expected to complete its migration to Vault CRM by the end of 2025.
"The unified and connected Veeva Vault CRM Suite is delivering on our vision to bring sales, marketing, medical, and service together for the first time for true customer centricity," said Matt Farrell, executive vice president of commercial strategy at Veeva. "The pace of application development, customer adoption, and migrations is a reflection of our long-standing commitment to consistently deliver on product excellence and customer success for the industry."
Additional Information
For more on Veeva Vault CRM Service Center, visit: veeva.com/ServiceCenter
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.
Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services, including certain of our new solutions and applications that are still under development or not generally available. These statements are based on our current expectations. Actual results, availability, and any future events relating to these products and services could differ materially from those anticipated or provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 35 and 36), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Alison Borris
Veeva Systems
925-226-8821
alison.borris@veeva.com
© 2024 Veeva Systems Inc. All rights reserved. Veeva, V, Vault, and Crossix are registered trademarks of Veeva Systems Inc. All third party trademarks (including logos and icons) referenced herein remain the property of their respective owners. Use of them does not imply any affiliation with or endorsement by them.
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SOURCE Veeva Systems
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