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New Approach to Delivering 'Single Source of Truth' Bridges Content Gaps across the Life Sciences EnterprisePLEASANTON, Calif. --(Business Wire)-- Veeva Systems introduces a breakthrough in regulated content management for life sciences with recent Veeva Vault innovations. Vault now delivers a single source of truth across the enterprise, uniting teams from research and development to commercial, to enable global harmonization. Individuals throughout the organization can share and reuse approved content, eliminating manual hand-offs and duplicate work. At the same time, Vault provides local autonomy and flexibility for each department or region to manage its own content to reflect its unique business processes. Vault maintains one authoritative source document in the cloud to bridge content gaps, increasing efficiency, visibility, and compliance. This new Vault release brings the global life sciences organization together, including therapeutic areas, regional affiliates, investigator sites, and sales and marketing groups worldwide, which were historically served by separate solutions that don't interoperate. Most life sciences companies struggle to manage multiple, isolated legacy systems - resulting in manual document handoffs, gross inefficiencies, and compliance risk. Conservative estimates show these inefficiencies contribute to an average of 21% loss in productivity. 1 "A simple protocol change in today's siloed environment may involve more than 25 steps leveraging multiple copies of a document across multiple systems," explained Jennifer Goldsmith, vice president of Veeva Vault. "With Vault, we decrease this to one single source, just eight steps, and the time required to execute the update goes from weeks to minutes, dramatically reducing cost and compliance risk." One Document, Multiple Uses - Enterprise-wide Harmonization Documents are cross-linked across Vault applications, so the same content is used in a different context - whether in a submission, trial master file, or promotional piece - making the document easier to organize and access for different users but traceable to ensure a controlled, single source of truth. For example, a protocol may be authored by the regulatory team, incorporated into a clinical trial master file, and then distributed to investigator sites, so it's needed in three different contexts. With Vault, one document is used across all areas, upholding a clear chain of custody. Teams reuse materials with confidence, knowing that they're always working with the right version. In another scenario, regional brand teams leverage assets from corporate in new product packaging, certain the information is up-to-date without wasting time tracking down or re-entering the same details. As the single source of compliant content for Veeva's multichannel offerings, Vault extends document reuse for medical, marketing, and sales teams to websites, self-directed digital details, email, mobile, and even face-to-face interactions between field sales reps and healthcare professionals (HCPs). Vault enables direct content sharing across teams while preserving the independence that is so vital to each group's needs and regulatory requirements. "Traditionally, life sciences companies have had to choose between an inflexible centralized repository that supports content sharing and corporate control, but adds enormous complexity - and decentralized solutions that meet local or departmental requirements but limit content reuse and tracking. Either the business process was compromised or efficiency was impacted since there was no ability to address process, efficiency, and compliance across the board," added Goldsmith. "Not anymore; Vault delivers to the needs of lines-of-business and corporate compliance teams." Veeva previewed Vault's ability to now deliver a single source of truth to customers at its recent R&D Summit in Philadelphia, where more than 300 industry leaders representing 80 life sciences companies converged to share best practices for moving content to the cloud. These new Vault capabilities will be generally available in early Dec. 2014. In Other Veeva News… In addition to its newest Vault innovations, Veeva today launched Veeva CRM CoBrowse, a new, remote detailing solution that enables real-time online customer engagement and integrates seamlessly with multichannel Veeva CRM. Veeva CRM is part of Veeva Commercial Cloud, a unified set of commercial applications that marries multichannel interactions, customer data, and compliant content. Read the full announcement. Additional Information
About Veeva Systems Veeva Systems Inc. (NYSE:VEEV) 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 200 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 statements regarding benefits from the use of Veeva's solutions, demand for Veeva's solutions, and general business conditions. 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, 2014, which is available on the company's website at www.veeva.com under the Investors section and on the SEC's (News - Alert) 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. Sources: 1. Webster, Melissa, "Bridging the Information Worker Productivity Gap: New Challenges and Opportunities for IT," IDC (News - Alert) Health Insights, September 2012. For more, visit http://adobe.ly/Ul7ZZp
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