Veeva Announces First Customer Win and April 2024 Availability for Vault CRM – the Next Generation of CRM for Life Sciences
Major product and customer milestones signal progress toward the future of CRM for life sciences
SINGAPORE - Media OutReach - 29 August 2023 - Veeva Systems (NYSE: VEEV) today announced two major milestones as it advances Vault CRM – the next generation of CRM for the life sciences industry.Vault CRM had its first customer win with an innovative oncology biotech. The early adopter plans to go live starting with their field medical team in Q4 2023. Veeva also announced plans for the general release of Vault CRM in April 2024.
"The Veeva product team has made remarkable progress since we announced Vault CRM less than a year ago," said Tom Schwenger, Veeva president and COO. "By focusing on product excellence, innovation, and customer success, Vault CRM will have its first customer live in Q4 2023, an important milestone as we look ahead to the future of CRM for the industry."
Built on the Veeva Vault Platform for the unique needs of life sciences, Vault CRM will include all the functionality of market-leading Veeva CRM and new omnichannel capabilities. Vault CRM Service Center – included with Vault CRM at no additional charge – provides new call center capabilities inside sales and hybrid reps can use to support the service-centric engagement necessary for today's more complex therapies.
Vault CRM is planned for general availability in April 2024 and will then be sold as the go-forward product for all new customers. The current Veeva CRM solution built on the Salesforce platform will enter stability mode after its final functional release in December 2023 to minimize change and provide a smooth migration path to Vault CRM for existing Veeva CRM customers. During stability mode, Veeva CRM releases will include fixes for significant defects, compliance, platform compatibility, and security updates. Veeva CRM will be supported until September 2030.
Additional Information
For more on Vault CRM, visit: veeva.com/VaultCRM
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
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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, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 37 and 38), and in our subsequent SEC filings, which you can access at sec.gov.
