By Cassandra Balentine
Many industries increasingly look to cloud-based solutions to pursue the next generation of business technology. Veeva Systems provides cloud-based software for the global life sciences industry.
Founded in 2007, Veeva is headquartered in the San Francisco Bay Area with offices throughout Asia, Australia, Europe, Latin America, and North America. The company launched its initial public offering in 2013.
Today, it has more than 950 employees and reported 2014 revenues just over $210 million. The company ranked number 212 in the 2014 Software 500.
Veeva’s continued success is fueled by its innovative cloud-based technology solutions. Most recently, the company introduced Veeva OpenKey. The company describes it as a new approach to providing customer data for all healthcare professionals, healthcare organizations, and affiliations across all major life sciences markets with consistent standards.
“For the life sciences industry to continue to be successful, as well as trusted by both governments and patients, it requires accurate data and real insights on all of it affiliations, interactions, and outcomes,” says Robert Bryant, partner, Deloitte LLP.
Veeva OpenKey is designed to provide a faster, more responsive service, making it easier for companies to use the data they need wherever, whenever, and however they need it—without the contractual restrictions that exist in the customer data market today.
To eliminate the burden of managing multiple data feeds and duplication of healthcare providers and healthcare organizations records across European markets, Veeva OpenKey Customer Data is sourced locally and consolidated into a single, global reference database.
Tim Slevin, SVP, global data solutions, Veeva Systems, describes OpenKey as a new approach to customer reference and compliance data, in which quality is ensured through rigorous, automated, and steward-led validation. Data is continuously updated in the cloud from authoritative industry sources for timely, accurate information. Digital profile data is included to support multi-channel customer engagement in the life sciences industry.
OpenKey builds on the company’s growing presence in the data business, which began with the purchase of AdvantageMS in May 2013. “The acquisition brought a database of more than seven million healthcare providers, healthcare organizations, and affiliations across the U.S. that was nearly ten years in the making,” notes Slevin.
In addition to the announcement of OpenKey, the company introduced the Veeva OpenKey Partner Program, establishing a partner ecosystem to enable its target base to maximize customer data.
The Partner Program is critical to OpenKey, as it establishes an ecosystem of data partners so that life sciences companies can easily access and maximize customer data investments. “Restrictive vendor contracts limit data usage and access, hampering a company’s ability to fully leverage licensed customer data,” explains Slevin. “Veeva OpenKey eliminates those complications by establishing open partner agreements with third-party providers. In addition, the solution’s fair pricing is free of conditions and surprises.”
A number of organizations have already become Veeva OpenKey partners, including Axtria, BMI System, Crossix Solutions, Decision Resources Group, LiquidHub, OpenQ, Symphony Health Solutions, Qlik, and Zephlyr Health.
Life sciences organizations have a need for data that is easily accessible and simply priced.
“Veeva OpenKey solves the life sciences industry’s data challenges with a solution that is open, allowing companies to use data however, whenever, and wherever they need it; easy—in its customer-centric approach that makes purchase, use, and ongoing data maintenances simple and global for a complete customer view,” concludes Slevin.
Veeva OpenKey Customer Data and services are currently available in Australia, China, the U.K., and the U.S. Availability for other major European countries is expected later this year, and other regions will follow in 2016.
Veeva has more than 275 customers, from leading pharmaceutical companies to emerging biotechs. SW