Salesforce’s former VP of technology, Peter Gassner, co-founded Veeva in 2007 after spotting an unmet need for dedicated CRM
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Customer relationship management
Customer relationship management (CRM) is an approach to managing a company’s interaction with current and future customers. The CRM approach tries to analyze data about customers’ history with a company, in order to better improve business relationships with customers, specifically focusing on retaining customers, in order to drive sales growth.
services in the life sciences industry. Veeva built its CRM platform on top of Salesforce’s cloud platform, and it will likely renew that partnership after it expires in 2025.
Is Veeva a better buy than Salesforce right now?
Choosing a better buy here is tough. But for investors looking for the most upside potential over the next decade, Veeva is a great pick as the younger company, even with an incredibly high valuation and more focused (and smaller) industry. That’s not to say Salesforce should be ignored, though.
How many customers does Veeva have?
Committed to innovation, product excellence, and customer success, Veeva has more than 500 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.
What does the Veeva-Salesforce agreement mean for the pharmaceutical and biotech industry?
Veeva continues as salesforce.com’s preferred worldwide partner for the pharmaceutical and biotech industry. The agreement includes minimum payment commitments from Veeva over the term of the extension. Otherwise, the commercial terms of the agreement remain largely unchanged and Veeva expects the renewal to have no impact on its financial model.
What did Marc Benioff say about the Veeva-Salesforce partnership?
“Veeva has been an outstanding partner over the past decade, and Peter has been an outstanding CEO,” said Marc Benioff, chairman and CEO at Salesforce. “Our expanded collaboration is a great next step for our joint customers and we look forward to working with Veeva into the next decade to help move the life sciences industry forward.”
What is the difference between Veeva and Salesforce?
Salesforce Sales Cloud is a cloud-based Customer Relationship Management (CRM) application from Salesforce. Sales Cloud helps… Veeva CRM is a cloud-based CRM system for the life sciences industry.
Does Veeva integrate with Salesforce?
Veeva CRM is now integrated with Salesforce Marketing Cloud, a digital marketing automation and campaign management tool helping marketers track a customer’s online activity.
Which is better Veeva or Salesforce?
The winner: Salesforce Its business is better diversified, its stock is cheaper, and its takeover of Slack — like its purchases of MuleSoft and Tableau — should improve its ecosystem, lock in its customers, and widen its moat against its smaller rivals.
Who owns Veeva Vault?
Peter GassnerFounder, CEO. Peter Gassner is the visionary behind Veeva, one of the world’s most successful and innovative cloud software companies. He pioneered the industry cloud category when he founded Veeva in 2007 with the belief that vertical cloud software would be the next wave of cloud innovation.
How does Veeva and Salesforce work together?
As of version 28, Veeva CRM supports integration with Salesforce Marketing Cloud and imports marketing activities. This allows field users to get a complete view of all interactions with an Account.
How does veeva work with Salesforce?
Through the Veeva Vault API, teams can author, search, and access compliant documents without ever leaving Salesforce Service Cloud. Additionally, all doctor interactions are logged so that customer service and support can track progress through analytics tools in Salesforce Service Cloud and Veeva Vault.
Is veeva any good?
Veeva Vault is an Excellent cloud based platform that provide an excellent user experience to manage documents. Implementation was easy and users like it. Fast and easy implementation. Users love the product as the user experience is very good.
Is veeva a SaaS company?
Veeva Systems Inc. is an American cloud-computing company focused on pharmaceutical and life sciences industry applications. Headquartered in Pleasanton, California, it was founded in 2007 by Peter Gassner and Matt Wallach. It works with software as a service (SaaS) in the life-science industry.
Is Salesforce a good long term investment?
The CRM software market is expected to grow at a sturdy 11.1% compound annual growth rate (CAGR) through 2027, reaching $96 billion. By comparison, that is more than double the $41 billion in 2019.
What exactly does Veeva do?
Founded in 2007, Veeva NYSE (VEEV), is a leading global provider of cloud-based software solutions for regulated industries such as consumer goods, chemical, cosmetics, and life sciences.
What is Veeva known for?
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 pharmaceutical companies to emerging biotechs.
Who created Veeva?
Peter GassnerVeeva Systems / FounderPeter P. Gassner is the CEO and co-founder of Veeva, a company supporting processes in the pharmaceutical industry. With a net worth of US $5.25 billion, he is ranked 494th by Bloomberg on the list of billionaires worldwide. He is a member of the board of directors of Zoom Video Communications. Wikipedia
These two “digital transformation” businesses are on a tear this year
Nicholas has been a writer for the Motley Fool since 2015, covering companies primarily in the consumer goods and technology sectors. He is also the founder and president of Concinnus Financial, a Registered Investment Advisor based in Spokane, WA. He enjoys the outdoors up and down the West Coast with his wife and their Humane Society-rescued dog.
A life sciences technology pure play
Over the last five years, Veeva stock has been a 10-bagger, returning shareholders over 1,000%. While trailing-12-month revenue is up “only” about 200% over that span of time, the company’s free cash flow (revenue less cash operating and capital expenses) per share is up over 700%.
A massive digital transformation ecosystem
Salesforce is a good example of why I wouldn’t bet against Veeva even though it’s currently at sky-high valuations. Salesforce was once a small-ish but scrappy cloud software company developing services in the customer relationship management (CRM) niche.
Which is the better buy?
Choosing a better buy here is tough. But for investors looking for the most upside potential over the next decade, Veeva is a great pick as the younger company, even with an incredibly high valuation and more focused (and smaller) industry. That’s not to say Salesforce should be ignored, though.
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What is Veeva software?
Veeva’s software helps life sciences companies develop, manufacture, and maintain compliance in this highly regulated industry. Its industry-focused platform was built by collaborating with customers to develop a deep understanding of industry requirements and implementing best practices into its products.
Is Veeva profitable?
One highlight for investors is that Veeva is highly profitable, unlike many of its peers, which are foregoing profits to invest in growth. In fact, last quarter, its net income grew 28.2% year over year and is now an impressive 29% of the top line.
Is Salesforce a software company?
Salesforce started with a software product to better manage customer relationships, but has expanded its offerings to include tools for sales, marketing, service, and analytics. Its history of growth has been amazing. It’s the only U.S. company to exceed 20 years of 20%-plus consecutive annual revenue growth, and it’s planning on continuing the streak. At its recent Dreamforce conference, where it hosts customers, partners, and investors to interact with the company, it shared its goal to double its revenue over the next four years .