Veeva Unveils Vault CRM, Next Generation of CRM for Life Sciences

Delivers significant innovations for the industry including AI-powered CRM Bot, integrated Service Center, and full functionality of Veeva CRM

SINGAPORE, May 8, 2023 /PRNewswire/ -- In a showcase demo kicking off Veeva's 2023 North America Commercial Summit to an audience of nearly 1,500 life science leaders last week, Veeva Systems (NYSE: VEEV) unveiled Vault CRM, the next generation of CRM for life sciences. Built on the Veeva Vault Platform, Vault CRM has the full functionality of Veeva CRM and significant new innovations including two new applications: CRM Bot and Service Center.

Integrated into Vault CRM, CRM Bot is an intelligent assistant to help sales and medical teams be more productive. The AI application leverages customer-specific CRM activity data combined with Veeva Link data in a private customer instance. Service Center is an integrated call center application for inside sales and hybrid reps. Service Center is included in Vault CRM at no additional charge and CRM Bot is a separately licensed product integrated with Vault CRM.

"We are excited to deliver the next generation of CRM for life sciences," said Veeva CEO Peter Gassner. "Vault CRM represents the most innovation ever from Veeva with an AI-powered CRM Bot, integrated call center, and the full functionality of Veeva CRM. "With significant advances in CRM and data applications, Veeva Commercial Cloud provides the industry with a solution built for today's complex treatments and engagement models."

All Veeva CLM and Veeva CRM Approved Email content will work seamlessly with Vault CRM and Vault CRM uses the same mobile and desktop applications as Veeva CRM. This approach ensures companies benefit from their current investments and future innovation since much of the migration can be automated and no retraining of end users is needed.

The first Vault CRM customers are expected to be live in 2024. The first migrations from Veeva CRM to Vault CRM are expected in 2025 and most companies will migrate in the 2026 to 2029 timeframe. Veeva also announced an expanded business partnership with Accenture to help customers optimize their processes and leverage new innovations as part of their migration to Vault CRM.

Vault CRM is part of Veeva Commercial Cloud, a family of software, data, and services to advance commercial excellence in life sciences. Veeva customers can learn more about Vault CRM and Commercial Cloud at VeevaConnect.com.

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/ap.

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 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-K for the fiscal year ended January 31, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.

SOURCE Veeva Systems