Stock Profile: Veeva Systems

Veeva Systems delivers cloud-based software solutions tailored for the life sciences industry. Veeva also extends its content and data management expertise to other sectors, including consumer products and chemicals. 

The company’s products fall into three main categories: Veeva Development Cloud, Veeva Commercial Cloud, and Veeva Data Cloud. Their growing and committed customer base includes major pharmaceutical and biotechnology companies worldwide.

In February 2021, Veeva’s shareholders voted for it to become the first public company to convert to a Public Benefit Corporation (PBC). As a PBC, Veeva became legally responsible for balancing the interests of multiple stakeholders, including customers, employees, partners, and shareholders, and broadened its certificate of incorporation to include a public benefit purpose.

Current Snapshot: Unparalleled Industry Expertise

Veeva Systems has built a strong competitive edge through a platform specifically designed for the life sciences industry and unparalleled industry expertise. Rather than a one-size-fits-all approach, it has developed specialized platforms that are deeply integrated into the sector, yielding high customer retention.

Veeva’s core offering is its cloud-based customer relationship management (CRM) platform. The platform, which has complementary applications, is built on Salesforce.com’s platform and designed specifically for pharmaceutical and biotech companies with established salesforces. Before Veeva, these companies relied on generic CRMs or legacy systems that were expensive, slow to update, and incapable of adapting quickly to business and regulatory changes. 

By 2022, Veeva CRM was used by over 80% of global pharmaceutical sales representatives, highlighting its deep industry integration.

Veeva CRM is complemented by Veeva Vault, the company’s unified content management system, which integrates a suite of applications and allows for significant operational efficiency. Veeva Vault supports life sciences companies across five critical areas: commercial, clinical trials, quality and manufacturing, regulatory, and pharmacovigilance (safety). 

With more than 15 years of experience, Veeva’s tailored solutions have made it the go-to provider across the life sciences industry, from top pharmaceutical and biotech companies to emerging growth firms. The company’s proven track record, combined with continued investment in new products and services, positions Veeva to remain the global standard in cloud-based solutions for life sciences.

Social and Environmental Impact Review

Veeva Systems is making a powerful societal impact by developing efficiencies for clinical trials, regulatory compliance, and data management that accelerate the development of life-saving drugs and treatments.

As a Public Benefit Corporation, Veeva produces an annual public impact report, outlining how it is meeting its goals and responsibilities to all stakeholders.

Veeva provides a more energy-efficient option compared to traditional on-site tech infrastructure, offering its clients cloud-based systems that help companies lower their environmental footprint. These solutions also help ensure transparency, accountability, and compliance with regulatory standards in the life sciences industry, directly supporting ethical governance in the sector.

In addition to these customer benefits, Veeva also creates positive social impact through its flexible employee policies designed to encourage work-life balance, and its philanthropy. Veeva integrates into its local communities, exemplified by its headquarters in Pleasanton, California, where it donates laptops, hosts youth coding events, and sponsors other school programs.

By offering technology solutions that help pharmaceutical and life sciences companies streamline operations while facilitating better health outcomes, reducing environmental impact, and promoting ethical governance in the industry, Veeva Systems stands out as a sustainable investment offering. Clean Yield is on cloud nine to offer it as part of our portfolio. 

Learn more about Veeva Systems.