San Francisco, CA
Overall Rank: 13
Category: Cloud Management
Category Rank: 2
- Top Software Company of 2023
- Power 500 Software Company
Veeva Systems Inc. is a leading provider of cloud-based software solutions for the global life sciences industry. Established in 2007, Veeva has emerged as a trusted partner for more than 875 customers, ranging from large pharmaceutical companies to emerging biotech firms. The company’s commitment to innovation, product excellence, and customer success has positioned it as a key player in the industry.
Headquartered in the San Francisco Bay Area, Veeva operates across multiple locations worldwide. The company has offices in Canada, Europe, Asia, and Latin America, allowing it to cater to the diverse needs of its global clientele. This extensive network of offices enables Veeva to provide localized support and establish strong relationships with its customers.
As Veeva continues to expand its operations, it has set an ambitious goal of reaching 10,000 employees by 2025. This signifies the company’s growth trajectory and its dedication to meeting the evolving demands of the life sciences industry. Veeva’s industry cloud solutions encompass a wide range of offerings designed to support critical functions throughout the life sciences value chain. From research and development (R&D) to commercial operations, Veeva provides data, software, services, and an extensive ecosystem of partners to help companies of all sizes bring products to market faster and more efficiently while ensuring compliance.
Some of Veeva’s core solutions include Veeva Vault for content management, Veeva CRM for customer relationship management, Veeva OpenData for customer reference data, Veeva Network for master data management, and Veeva Nitro for commercial data warehousing in the life sciences sector. These offerings empower organizations to streamline their operations, enhance data-driven decision-making, and maintain regulatory compliance.
Veeva Development Cloud
The cloud is an operating system for product development that integrates applications for clinical, quality, regulatory, and safety purposes. By centralizing content and data on a single cloud platform, organizations can streamline their processes, increase operational efficiencies, and ensure comprehensive compliance. It enables faster time-to-market, global alignment, and reliable information quality across the development lifecycle. The cloud platform covers areas such as clinical operations, clinical data management, quality management, regulatory affairs, and safety.
These are integrations provided by Veeva that facilitate the seamless transfer of data and documents between various Vaults, including clinical, quality, regulatory, safety, and commercial Vaults. These connections break down silos, enhance visibility, and automate manual tasks, leading to streamlined cross-functional business processes. Some examples of Vault Connections include the connection between Vault RIM and Clinical Operations, which allows the sharing of product, study, and site data and documents, and the connection between Vault Quality and RIM, which speeds up change control and variation management.
Vault Clinical Operations
It is a suite of unified applications designed to accelerate trial execution and provide real-time visibility. It includes applications for study start-ups, electronic trial master files (eTMF), clinical trial management systems (CTMS), payments, site connectivity, and electronic consent. With these applications, organizations can speed up site activation, enable proactive trial management, maintain inspection readiness with active eTMF, pay research sites faster, automate information sharing in clinical trials, and improve the patient experience through electronic consent.
Vault Clinical Data Management Suite (Vault CDMS) and Veeva RTSM
They redefine clinical data management, enabling clinical teams to manage trials with agility and speed. Vault CDMS offers capabilities for collecting, cleaning, and reviewing study data, while Veeva RTSM allows for subject randomization and trial product supply management. These innovative applications aim to accelerate study timelines and streamline the management of clinical data.
Vault Quality Suite
It provides modernized quality management solutions, combining quality processes, content management, lab operations, and training management applications on a single cloud platform. With Vault QMS, organizations can streamline and automate quality processes globally, while Vault QualityDocs enables control and automation of GxP document review and approval workflows. Other applications within the suite include Vault Product Surveillance for postmarket surveillance of medical devices, Vault Validation Management for paperless validation, Vault Station Manager for delivering content to the shop floor, and Vault Training for ensuring compliance and role-based qualification through end-to-end learning management.
Veeva Medical Suite
It offers solutions to unify scientific exchange, content management, inquiry management, and real-time intelligence for strengthening relationships with healthcare professionals (HCPs) and key opinion leaders (KOLs). Veeva Medical CRM enables scientific engagement, content sharing, and the capture of medical insights. Vault MedComms centralizes and scales content across channels and geographies, while Vault MedInquiry enables consistent and prompt responses to medical inquiries. Veeva Link provides real-time intelligence for accelerating insights and precision engagement in medical affairs.
Veeva Commercial Cloud
It provides connected software, data, and services to advance commercial excellence for sales, medical, and marketing functions. The software offerings include Veeva CRM Suite for personalized engagement with customers, Vault PromoMats for compliant content management, Vault Medical for efficient medical content and inquiry management, and Veeva Crossix for maximizing marketing effectiveness using comprehensive data. Veeva’s data solutions encompass Veeva OpenData for high-quality customer reference data, Veeva Compass for patient claims data, and Veeva Link for real-time intelligence. Additionally, Veeva offers expert services for strategy and execution, such as business consulting, commercial analytics, and digital event planning.
Research Site Solutions
It aims to simplify the work of research sites in clinical trials. Veeva SiteVault provides applications like Study Connect for accessing and exchanging trial information across sponsors, eReg for managing studies with a compliant and user-friendly application, and eConsent for expanding patient participation in clinical trials. These solutions are part of the Veeva Digital Trials Platform, which connects sites, sponsors, and patients on a single technology ecosystem to improve trial efficiency and enhance patient engagement.
Users appreciate Veeva Vault’s intuitive interface and ease of use, leading to improved productivity and efficiency. The system’s robust security features and compliance capabilities are highly valued by customers operating in the regulated life sciences industry. Veeva Vault’s document management and collaboration capabilities receive praise for streamlining processes and enhancing cross-functional collaboration. However, some users reported occasional system slowness and performance issues, which impacted their workflow.
Users commend Veeva CRM for its comprehensive customer relationship management capabilities tailored specifically for the life sciences industry. The system’s mobile functionality and offline access receive positive feedback for enabling sales representatives to work efficiently in the field. Some users reported a steep learning curve when initially adopting Veeva CRM, indicating a need for improved onboarding and training resources. A few customers expressed a desire for more flexibility and customization options within the system to align with their specific business processes.
Veeva Claims Management
Users value Veeva Claims Management’s ability to automate and streamline the claims management process, resulting in improved efficiency and reduced errors.
The system’s integration capabilities with other Veeva products and third-party systems were highlighted as a significant advantage. Customers appreciate Veeva’s ongoing support and responsive customer service in addressing their needs and concerns. A few customers mentioned occasional system glitches and performance issues, suggesting areas for improvement in stability and reliability.
Veeva Vault RIM
Users praised Veeva Vault RIM for its ability to centralize regulatory information and improve compliance management across the organization. The system’s advanced search capabilities and intuitive navigation were highlighted as key strengths, facilitating efficient retrieval of regulatory data. A few users expressed concerns about the complexity of the system, especially for new users, suggesting a need for improved user onboarding and training.
Veeva Medical Cloud
Users appreciate Veeva Medical Cloud’s ability to streamline medical affairs operations and improve cross-functional collaboration within their organizations. Customers mentioned Veeva’s responsive customer support and willingness to address specific needs and requirements. Integration challenges with other systems and data sources were reported, indicating room for improvement in seamless data exchange. Some users found certain features less intuitive and suggested improvements in the overall user experience.
- Veeva has acquired 6 organizations. Their most recent acquisition was Veracity Logic on Dec 13, 2021.
- Veeva is registered under the ticker NYSE:VEEV. The stock opened at $20.00 in its Oct 16, 2013 IPO.
- Veeva has raised a total of $7M in funding over 2 rounds.
- Their latest funding was raised on Jun 5, 2008, from a Venture – Series Unknown round.
- 83% of new drugs approved were launched with Veeva CRM.
- Veeva OpenData enables 90% faster data change request resolution.
- Vault eTMF reduces TMF reconciliation time by 40%.
- Vault RIM reduces submission development time by 50%.
- Veeva has more than 875 customers.
- Veeva is headquartered in the San Francisco Bay Area. They have offices in 6 countries across Canada, Europe, Asia, and Latin America.
- Veeva is growing and aims to have 10,000 employees by 2025.
- In the past 6 months, their total headcount increased by 7%.
Ratings and Commentary
The organization has positioned itself as a committed innovator, focused on delivering excellent products and ensuring customer success. With over 875 customers, ranging from large pharmaceutical companies to emerging biotechs, Veeva has established a strong foothold in the market. Headquartered in the San Francisco Bay Area, the company has expanded its presence with offices in Canada, Europe, Asia, and Latin America.
One of the key strengths of Veeva is the caliber of individuals involved in decision-making and steering the company. The prominent figures in this regard include Peter Gassner, the founder and CEO of Veeva Systems, and Tom Schwenger, serving as the President and COO, who brings valuable expertise to the table. The presence of these key individuals ensures strategic direction and effective decision-making within the organization.
In terms of organizational strength, Veeva has been steadily growing and is projected to reach 10,000 employees by 2025. This expansion indicates the company’s ability to attract talent and scale its operations effectively. With a substantial workforce, Veeva can leverage its resources to continue delivering high-quality products and services to its extensive customer base.
The size of the market in which Veeva operates is another positive factor. As a leader in cloud-based software for the life sciences industry, Veeva benefits from a large and growing market. By consistently delivering high-quality products, Veeva ensures that its customers can rely on its software to meet their complex requirements.
While Veeva enjoys a strong position in the market, it is not without its competitive threats. Competitors such as Egnyte and Pepper Flow pose challenges in the cloud-based software sector, necessitating a proactive approach to stay ahead. However, Veeva’s established reputation, track record of success, and continuous commitment to innovation provide a solid foundation to counter these competitive pressures.
Peter Gassner, Founder, CEO
With over 30 years of experience in leading technology companies, Peter has been instrumental in driving Veeva’s success and pioneering the industry cloud category. He founded Veeva in 2007 with the belief that vertical cloud software would revolutionize the life sciences industry. Under his leadership, Veeva has become a leading provider of cloud-based solutions for more than 1,000 life sciences companies. Peter’s expertise spans major transitions in enterprise software, and he has played a crucial role in developing successful enterprise application platforms like Veeva Vault, the Salesforce Platform, and PeopleTools.
Tom Schwenger, President and COO
As the President and COO of Veeva Systems, Tom Schwenger is responsible for strategy, sales, and services. With over 25 years of experience in the life sciences industry, Tom has a deep understanding of the sector and has led high-performing teams in driving strategy and technology transformations for top pharmaceutical, biotech, and medical device companies. Before joining Veeva, Tom held leadership positions at Accenture, where he focused on advancing medical treatments and leading growth in the North American Life Sciences Practice. His expertise contributes to Veeva’s continued growth and expansion in the life sciences market.
Brent Bowman, CFO
He oversees the finance and administrative operations, including finance/accounting, legal, investor relations, and treasury. With more than 25 years of experience in corporate and operational finance, Brent has a strong background in the technology industry, covering software, hardware, services, and semiconductors. He has successfully led finance organizations at large-scale companies and built high-performing teams. His financial expertise contributes to Veeva’s financial stability and strategic decision-making.
Nitsa Zuppas, CMO
Her responsibilities include branding, communications, lead generation, sales enablement, and product marketing. With over 25 years of experience in marketing and technology, Nitsa brings valuable expertise in enterprise software and establishing category and market leadership. She has held senior executive positions at First Virtual Group, where she led marketing across diverse lines of business and managed the Siebel Foundation. Nitsa’s marketing campaigns for the Meth Project were highly successful in reducing methamphetamine use, earning recognition and commendation from Barron’s magazine and the White House. Her leadership and marketing strategies contribute to Veeva’s growth and customer success. Nitsa also serves as the chair of the Veeva Women’s Community, promoting diversity and inclusion within the organization.
Based on the available Glassdoor reviews, Veeva Systems currently holds a rating of 4.6 out of 5 stars.
Inclusion and Diversity
Veeva Systems emphasizes the importance of inclusion and values its workforce for its individuality and unique contributions. The company recognizes that diversity comes in many forms, including gender, race, ethnicity, religion, politics, sexual orientation, age, and life experience.
Innovation and Collaboration
Their organizational culture promotes innovation and collaboration. By valuing diverse perspectives and ideas, the company encourages employees to think creatively and contribute to the development of innovative solutions for the life sciences industry. Collaboration is fostered through cross-functional teamwork and open communication channels, enabling employees to share knowledge and insights.
Employee Growth and Development
Veeva is committed to supporting the growth and development of its employees. The company provides opportunities for professional advancement through training programs, mentorship, and challenging projects. By investing in their employees’ development, Veeva encourages a culture of continuous learning and personal growth.
The company offers its employees a number of benefits for their holistic development during their time at Veeva Systems. Some of the benefits that they offer are medical, dental, and vision coverage, life insurance, disability insurance, 401(k) plan with employer matching, stock options, employee stock purchase plan, competitive salary, performance-based bonuses, flexible work hours, remote work options, paid time off and vacation days, parental leave, training programs, and educational resources.
With over 30 years of experience in leading technology companies, Peter has been at the forefront of major transitions in enterprise software. He founded Veeva in 2007 with the belief that vertical cloud software would revolutionize the industry. Peter’s career spans various significant roles in the technology industry. He worked on the mainframe at IBM Silicon Valley Lab, the client-server model at PeopleSoft, and the cloud at Salesforce. He played a pivotal role in the success of three industry-leading enterprise application platforms: Veeva Vault, the Salesforce Platform, and PeopleTools.
He is a founder and general partner of Emergence Capital, where he has spent over 15 years building companies that pioneered new markets. Gordon has been involved in the development of embedded web-based interfaces, server appliances, “on-demand” services for the SMB market, and web-native application development. Gordon led Emergence Capital’s first investment in salesforce.com, a leader in on-demand services. He has been recognized for his venture capital expertise, earning a place on Forbes’ Midas List of top venture capital investors multiple times. Apart from Veeva, Gordon currently sits on numerous company boards, including Insightly, Top Hat Monocle, High Alpha, and Textio.
He also serves as the audit committee chair for ServiceTitan, Doximity, and Singlestore. Tim played a crucial role in Veeva’s growth and success, serving as CFO from 2010 to 2020. During his tenure, Veeva’s revenue increased from around $10 million to over $1 billion, and the company went public in 2013. Tim was responsible for various functions, including finance and accounting, investor relations, employee success, and legal teams. Before joining Veeva, Tim held senior finance executive positions at PeopleSoft, where he managed the corporate financial planning and analysis organization.
He currently serves on the board of directors for Splunk, Phase One A/S, and Capture One A/S. Additionally, he is a board member of Meals On Wheels of San Francisco, a non-profit organization. Mark works as an advisor and board member to various technology companies. From 2009 to 2014, Mark held the position of chief technology officer at eBay Inc. and was part of their leadership team starting in 2008. He was responsible for eBay Inc.’s platform strategy and oversaw technology, software development, and site operations for eBay.com. Mark also serves as a senior advisor at Generation Investment Management since 2017.
Emergence Capital Partners
Based in San Mateo, California, is a venture firm that has successfully anticipated the shift of business software to the cloud. With a strong belief that enterprise software would be accessed through web browsers and provided via automatic updates from external servers, Emergence Capital Partners made strategic investments in CEOs who shared their vision. This foresight has paid off tremendously, as evidenced by the growth and impact of their portfolio companies such as Salesforce, Veeva, Box, Yammer, Bill.com, and Zoom. With a market cap of over $450 billion for its current and former portfolio companies, Emergence Capital Partners has managed six funds and has invested in 100 companies. Notably, they have achieved exits and private valuations exceeding $500 million for 20 companies within their portfolio.
- 2023 – Mario Müller, Director of Data Platform Engineering for Veeva Link, is named a PM360 ELITE 100 winner for his crucial contributions to scaling the Veeva Link platform.
- 2023 – Lindsey Lofgren, Vice President of Product & Data for Veeva Compass, is named a PM360 ELITE 100 winner. She acknowledgment for her work in helping brands drive more effective commercial strategies.
- 2023 – Veeva announces the development of its own Cloud Platform and new capabilities for managing life sciences sales and marketing. This announcement of Vault CRM also comprised of expanded business partnership with Accenture.
- 2023 – Veeva introduces Vault CRM for Life Sciences. Contract Pharma highlights the launch of Vault CRM as the next generation of CRM for life sciences.
- UCB and Veeva Collaborate to Advance the Patient Experience in Clinical Trials (2023)
- New Veeva Link MedTech Provides Real-Time Data to Optimize Scientific Engagement (2023)
- Veeva Becomes First Life Sciences Training Solutions Provider to Gain IACET Accreditation (2023)
News and Press Releases
- May 24, 2023 – Minaris Regenerative Medicine Streamlining Contract Manufacturing with Veeva Vault Quality Suite Applications (Read)
- May 16, 2023 – Biopharmas Boost Marketing Effectiveness by 23% by Synchronizing Digital Media with Field Engagement (Read)
- May 2, 2023 – Veeva Compass Modernizes Prescriber Data with New Approach Designed for Today’s Complex Therapies (Read)
- May 2, 2023: Veeva Expands Relationship with Accenture to Help Customers Transition to Vault CRM (Read)
Pepper Flow offers cloud-based promotional review software specifically designed for the life sciences industry. It enables pharmaceutical, biotechnology, medical device, and diagnostic companies to streamline their content review and approval processes. The software provides parallel and sequential reviews, automated claim linkage, compliance with regulatory requirements, and integration with Pepper Folio for sales enablement. Pepper Flow stands out for its intuitive interface, industry-specific features, and strong customer support.
Scilife focuses on transforming quality management into a competitive advantage for organizations in the life sciences sector. Their Smart Quality Platform combines quality management solutions with analytics, augmented learning, and gamification. Scilife helps companies improve efficiency, transparency, and compliance while reducing costs. The platform offers a range of modules such as document control, record management, training, audits, and risk management. Scilife’s customer support team is known for its expertise and industry knowledge.
TrackWise is an on-premises Quality Management System (QMS) software widely used across industries. It consolidates quality processes and provides a comprehensive view of compliance and operational effectiveness. TrackWise offers industry-standard workflows and can be customized to fit existing processes. Its main benefits include increased efficiency, improved quality, compliance, and risk reduction. Although not specifically tailored for life sciences, TrackWise is a popular choice for organizations seeking a centralized QMS solution.
RegDesk is an AI-enabled Regulatory Information Management System (RIMS) platform designed for medical device, pharmaceutical, and IVD companies. It offers comprehensive regulatory information management, helping organizations navigate complex compliance requirements. RegDesk’s AI capabilities provide enhanced performance and consistent results. The platform assists companies in achieving regulatory compliance more efficiently and effectively than traditional solutions.
Inception CRM is a CRM solution tailored for life science sales teams. It provides end-to-end support for medical, pharmacy, and account-based representatives, both remotely and in the field. Inception CRM’s features include customer data management, cycle and activity planning, call reporting, virtual engagements, and sales analysis. The platform’s native apps for iOS, Android, and Windows PCs ensure smooth and efficient workflows. Inception CRM stands out for its user-friendly interface and comprehensive support for various sales processes.
Veeva, a company committed to fostering a culture of inclusion and diversity, recognizes the importance of these values in driving innovation and creating an engaging work environment. Veeva understands that diversity comes in many forms, including gender, race, ethnicity, religion, politics, sexual orientation, age, and life experience. By respecting individuals and valuing their unique contributions, Veeva embraces a culture where everyone feels comfortable being their true selves and can perform at their best.
Employee fairness is a core principle at Veeva, where individuals are encouraged to take control of their own lives and careers. The company supports the idea of “captaining your own ship,” allowing employees to pursue opportunities of their choice within ethical boundaries. Veeva does not restrict internal or external mobility, enabling employees to pursue any job at any time without requiring managerial approval.
Veeva recognizes its role in the community and encourages employees to actively participate in giving back. Through programs like laptop donations to local schools, youth coding education events, and support for young entrepreneur programs, Veeva aims to make a positive impact in the communities where it operates. Charitable giving is also a priority, with Veeva’s 1% Veeva Giving program empowering employees to direct 1% of their base salary annually to support non-profit organizations of their choice. Veeva does not favor specific causes or expect donations for commercial advantage.
Respecting diverse political viewpoints is another aspect of Veeva’s corporate responsibility. The company supports the rights of its employees to hold varying political beliefs and encourages them to engage in the political process, including voting and supporting causes or candidates of their choice.
Ethical behavior is a fundamental principle at Veeva, emphasizing honesty, integrity, and common sense in all business practices. The company has a comprehensive code of conduct that applies to all employees, officers, directors, and suppliers, reflecting a commitment to upholding the law and respecting human rights. Veeva strives to be an environmentally responsible organization, implementing an environmental management system aligned with ISO 14001 standards.