®2015 Veeva Systems veeva.com | Analyst & Investor Day September 30, 2015
®2015 Veeva Systems veeva.com |
Analyst & Investor Day September 30, 2015
®2015 Veeva Systems veeva.com |
Agenda
Cloud Innovation
Veeva 2020
Industry Dynamics
Break
Commercial Cloud
Vault R&D
Customer Chat
Q&A
Peter Gassner, Founder & CEO
Tim Cabral, CFO
Matt Wallach, Co-founder & President
Matt Wallach, Co-founder & President
Avril England, GM, Veeva Vault
Ed Gemo, VP & CIO, Halozyme
®2015 Veeva Systems veeva.com |
Safe Harbor Forward-looking Statements
This presentation contains forward-looking statements, including statements regarding Veeva's future financial outlook and financial performance,
market growth, the release dates for and benefits from the use of Veeva's solutions, our partnership plans, our strategies, and general business
conditions. Any forward-looking statements contained in this presentation are based upon Veeva's historical performance and its current plans,
estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking
statements represent Veeva's expectations as of the date of this presentation. Subsequent events may cause these expectations to change, and
Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements represent Veeva's
expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any
obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and
uncertainties that may cause actual results to differ materially, including (i) our limited operating history, which makes it difficult to predict future
results; (ii) our expectation that the future growth rate of our revenues will decline, and that as our costs increase, we may not be able to generate
sufficient revenues to sustain the level of profitability we have achieved in the past or achieve profitability in the future; (iii) breaches in our security
measures, unauthorized access to our customers’ data, or system availability or performance problems associated with our data centers or
computing infrastructure; (iv) dependence on revenues from our Veeva CRM solution, and the rate of adoption of our new products; (v) acceptance
of our applications and services by customers, including renewals of existing subscriptions and purchases of subscriptions for additional users and
solutions; (vi) loss of one or more key customers; (vii) adverse changes in general economic or market conditions, particularly in the life sciences
industry; (viii) delays or reductions in information technology spending, particularly in the life sciences industry, including as a result of mergers in
the life sciences industry; (ix) the development of the market for enterprise cloud services, particularly in the life sciences industry; (x) competitive
factors, including but not limited to pricing pressures, industry consolidation, difficulty securing rights to access, host or integrate with complementary
third party products or data used by our customers, entry of new competitors and new applications and marketing initiatives by our competitors; (xi)
our ability to manage our growth effectively; and (xii) changes in sales that may not be immediately reflected in our results due to the ratable
recognition of our subscription revenue.
Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s filing on Form 10-Q for the period ended July 31, 2015,
which is available on the company’s website at www.veeva.com under the Investors section and on the SEC’s website at www.sec.gov. Further
information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.
®2015 Veeva Systems veeva.com |
Cloud Innovation Peter Gassner, Co-founder & CEO
®2015 Veeva Systems veeva.com | ®2015 Veeva Systems – Company Confidential veeva.com |
The Leading Provider of
Cloud Solutions to the
Global Life Sciences
Industry
Founded in 2007
$313M FY15 Revenue
1400+ Employees
HQ in Pleasanton, CA
5
®2015 Veeva Systems veeva.com | ®2015 Veeva Systems – Company Confidential veeva.com |
Vision Become the Leading Cloud Solutions Provider to the
Global Life Sciences Industry
Values Customer Success
Employee Success
Speed
6
®2015 Veeva Systems veeva.com |
Key Highlights
7
Well positioned for long-term growth
Sustainable profitably and cash flow
Large Commercial Cloud opportunity
Vault established as second growth engine
Innovation DNA
®2015 Veeva Systems veeva.com |
Two Years Since Veeva’s IPO
8
Operating at scale
$98M revenue in Q2
More than doubled headcount to 1,400
Success across multiple product lines
Non-CRM revenue from ~5% to 23% in Q2
More products
Significant innovations in each product line
Five new products announced
Strategic partner to the industry
Driven by industry cloud
What’s changed…
®2015 Veeva Systems veeva.com |
Two years since Veeva’s IPO
9
Industry Cloud model
High growth
Non-GAAP operating margins in the 20’s
Consistent execution
Exceeded topline guidance every quarter as a public company
Customer success
World-class revenue retention rates consistently well above 100%
Rapid innovation
Three new releases each year across every product line
What hasn’t…
®2015 Veeva Systems veeva.com |
Industry Cloud Model
Services Data Software
10
®2015 Veeva Systems veeva.com |
“The real advantage of an industry-
specific solution is that it eliminates, or
significantly reduces, the need to
customize. We can deploy and
achieve business results faster.
It is about speed to value.”
CIO, Top 30 Pharma
®2015 Veeva Systems veeva.com |
Largest Segment of the Software Market Total Worldwide Software Market Share, 2014
27%
8%
8%
7% 6%
6%
5%
5%
4%
4%
4%
4%
3%
9% Vertical Specific Software
Operating Systems
Database Management Systems
Other Application Software
ERP
App Infrastructure / Middleware
CRM
IT Operations
Security
Office Suites
Storage Management
Business Intelligence
Other Infrastructure Software
Other
Source: Gartner, Market Share: All Software Markets Worldwide 2014, March 2015
$115B
12
®2015 Veeva Systems veeva.com |
-2
-1
0
1
2
3
4
5
6
7
8V
ert
ical S
pecific
Oth
er
app
lica
tion
s
CR
M
Mid
dle
ware
DM
S
ER
P
IT O
ps
Secu
rity
Sup
ply
Cha
in M
gm
t
Sto
rag
e M
gm
t
BI &
Ana
lytics
Socia
l
Oth
er
Infr
astr
uctu
re
Virtu
aliz
atio
n In
frastr
uctu
re
EC
M
App
De
v
Data
Inte
gra
tio
n
Pro
ject
Mg
mt
Offic
e S
uite
s
Conte
nt C
rea
tion
Th
ou
sa
nd
s
OS
Source: Gartner, Market Share: All Software Markets Worldwide 2014, March 2015
Ch
an
ge
in
sp
en
din
g f
rom
20
13
($B
)
13
…and with the Most Growth Dollar Growth by Software Category, Worldwide Software Market 2014
®2015 Veeva Systems veeva.com |
Innovation DNA
14
Product Enhancements
New Applications
More Data
New Product Lines
Veeva Labs
®2015 Veeva Systems veeva.com |
Veeva Spans an Entire Life Sciences
Company
Regulatory Information
Management
Investigator
Portal eTMF QualityDocs MedComms PromoMats
Customer Master
Regulatory Clinical
Trials
Quality and
Manufacturing Marketing Sales
Research & Development Commercial
Medical
Affairs
Field
Medical
KOL Data
& Services
Medical
Data Services Email Services Customer &
Compliance Data
Approved
Email CLM CRM Engage CoBrowse Align Events
Management
15
®2015 Veeva Systems veeva.com |
Partner to the Industry
81 116
147
191 198 11
31
69
135
170
27
53
66
6
22
31
0
50
100
150
200
250
300
350
400
450
500
FY12 FY13 FY14 FY15
Major Product Releases
CRM
Vault
OpenData
Network
9 7
Q2’16
Q2’16
*Not Including Zinc Ahead
Customer Count by Product Line*
®2015 Veeva Systems veeva.com |
Product Evolution
Single
Product Line
Single Global
Product Line
Multiple Global
Product Lines
Integrated
Industry Cloud
17
®2015 Veeva Systems veeva.com |
Strategic Partner to the Industry From Nowhere to 3rd Most Preferred Life Sciences Software Vendor, IDC Health Insights
Source: IDC Health Insights' Top Preferred Life Sciences Technology Vendors for 2015, May 2015
Ranking 2015 2014 2013 2012
1 Oracle Oracle Oracle Oracle
2 SAP SAP SAP Apple
3 Veeva Symantec Symantec SAP
4 Medidata Veeva SAS SAS
5 SAS SAS IBM Microsoft
6 Microsoft IBM Microsoft Symantec
7 Dassault Microsoft Apple IBM
8 Apple Apple Veeva
18
®2015 Veeva Systems veeva.com |
Targeting $1B Revenue Run Rate in CY2020
Today CY2020e
Total Revenue ~$400M FY16 Guidance
$1B Revenue Run Rate
Non-CRM Revenue 20%+ ~50%
Eight-figure Customers 8 20
Customers 350 500+
19
Veeva
®2015 Veeva Systems veeva.com |
Veeva in 2020 Tim Cabral, CFO
®2015 Veeva Systems veeva.com |
History of Strong Revenue Growth
FY'11 FY'12 FY'13 FY'14 FY'15 FY'16
$210M
$130M
$61M
$29M
Subscription Services
$401M
$313M
Updated guidance for Zinc acquisition
Note: FY’16 revenue is based on the mid-point of most recently provided guidance
®2015 Veeva Systems veeva.com |
Targeting $1B Revenue Run Rate in CY2020
Today CY2020e
Total Revenue ~$400M FY16 Guidance
$1B Revenue Run Rate
Non-CRM Revenue 20%+ ~50%
Eight-figure Customers 8 20
Customers 350 500+
22
Veeva
®2015 Veeva Systems veeva.com |
Partner to the Industry
81 116
147
191 198 11
31
69
135
170
27
53
66
6
22
31
0
50
100
150
200
250
300
350
400
450
500
FY12 FY13 FY14 FY15
Major Product Releases
CRM
Vault
OpenData
Network
9 7
Q2’16
Q2’16
*Not Including Zinc Ahead
Customer Count by Product Line*
®2015 Veeva Systems veeva.com |
Product Line Contribution for $1B Target
2015 2020
$1B
~$400M
75%
20%
~50%
~35-40%
~10-15%
CRM Vault Network / OpenData / Other
(FY16 Guidance) (CY Revenue Run Rate)
®2015 Veeva Systems veeva.com |
Vault Tracking Ahead vs. Early Days of CRM
Vault
CRM
Note: First quarter of sales was Q2’08 for CRM and Q2’12 for Vault
Quarters after product line launch
Total revenue through first ~4 years of sales by product line
®2015 Veeva Systems veeva.com |
Current CRM & Vault Revenue Trends
Quarters after product line launch
Vault
CRM
Total revenue by product line
®2015 Veeva Systems veeva.com |
2020 Target Implies Trajectory for Vault
Similar to CRM
Quarters after product line launch
Vault
CRM
Implied trajectory of Vault revenue in $1B target
®2015 Veeva Systems veeva.com |
Vault Customers Expand Over Time
First year Q2'16
2013 2014 2015
1.2x
3.0x
9.6x
1.3
Avg. Vaults per
customer
2.0
2.2
Annualized Vault subscription revenue by annual cohort
®2015 Veeva Systems veeva.com |
Adding Value to Customers
Seven-figure and eight-figure customer count
Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16
Major Product Releases
4
25
28
34 35
39 40 42
45
5
6 7
7 7
7 8
>7-fig. customers
>8-fig. customers
20 in
2020
37 35 33 32
28 28 23
21
®2015 Veeva Systems veeva.com |
Lots of White Space Remaining
Dollar penetration within large enterprise customers with current products
14%
CRM
Network/OpenData
Vault
33%
2%
5%
®2015 Veeva Systems veeva.com |
Customer Count Penetration
147
27
191 198
116 81
Commercial R&D Only Total
Life sciences
companies 500 2,000 2,500
Customer count
today 238* 113 351
Penetration 48% 6% 14%
New customers -
last 4 quarters 70 51 121
Projected adds for
2020 goal ~50 ~125 +175
Annual target adds 10 25
*Includes net new customers from Zinc acquisition
®2015 Veeva Systems veeva.com |
Well Positioned for $1B in CY2020
TODAY
Total Revenue $1B
Revenue Run Rate
Non-CRM Revenue ~50%
Eight-figure Customers 20
Customers 500+
CY2020e
®2015 Veeva Systems veeva.com |
Long-term Operating Model
2020
(FY’21)
Gross margin 72-73%
17-18%
17-18%
7-8%
2015
(FY’16)
67-68%
17-18%
14-15%
8-9%
S&M % of revenue
R&D % of revenue
G&A % of revenue
28-32%¹ 26-27% Operating margin
Improved revenue mix Greater non-CRM contribution to revenue
Scaling of R&D sales team & support Geographic expansion
New product innovation Investments for future product lines
Continued scale
1 Implies an operating cash flow margin of roughly 20-25%
®2015 Veeva Systems veeva.com |
Billings Deep Dive
®2015 Veeva Systems veeva.com |
New Orders are Billed with Varying Terms
35
Annual
12 months paid up-front
Quarterly
3 months paid up front
Coterminous
1-11 months paid up front, depending on pre-existing renewal date
Followed by a 12-month renewal bill at pre-existing renewal date
®2015 Veeva Systems veeva.com |
Illustrative Coterminous Order
36
MSA
Existing business
$100 ACV
$100 invoice Jan 1
Indefinite →
Jan Jan Jul
100
users
Apr
Renewal/Bill
New business
$100 ACV
$50 invoice Jul 1
Combined business
$200 ACV
$200 invoice Jan 1
®2015 Veeva Systems veeva.com |
Illustrative Impact on Billings
Notes
Annual 12 months paid up front
Two quarterly invoices of $25 each
One stub invoice of $50 followed by an annual bill
of $100 on Jan 1
Billings in fiscal
year
$100
$150
Annual Contract
Value (ACV)
$100
$100
$100 Coterminous¹
¹Coterminous scenario assumes a pre-existing renewal date of Jan 1
Example: $100 order is signed on July 1st…
$50 Quarterly
®2015 Veeva Systems veeva.com |
FY2016 Billings Growth is Impacted by Two
Things
38
Unusually high billings in FY2015 relative to
new ACV booked
Realignment of two large customer orders
1
2
®2015 Veeva Systems veeva.com |
FY2015 was an Unusual Billings Year
39
Historically, Veeva has billed an average of 70-80
cents for each dollar of ACV booked in a given fiscal
year
In FY2015 the average was just over one dollar
As previously discussed, the difference between
these two was approximately $30M less
1
®2015 Veeva Systems veeva.com |
Two Large Customer Orders Recently
Realigned Their Renewal Dates
40
A ~$14M annual renewal was moved from mid-
January to early February
In January, we billed that customer for 12 ½ months and will bill
them again in February for 12 months as normal
This means that ~$14M of billings came out of FY2016
A ~$10M annual renewal was moved from September
to February
In September, we billed that customer for 5 months and will bill
them again in February for 12 months as normal
This means that ~$6M of billings came out of FY2016
In both cases, the impact to revenue was zero
2
®2015 Veeva Systems veeva.com |
Expect Adjusted Billings Growth of ~30% in
FY2016 (organic only¹)
41
¹Excludes the impact of the just announced Zinc acquisition which we expect to add an incremental
$13-14 million in billings to FY2016
($M) FY2015 ($M) FY2016
Calculated billings in FY2015 359 Expected actual billings in FY2016 406
% growth 13%
Impact of unusually high billings (30) Impact of renewal date realignments 20
Adjusted billings in FY2015 329 Adjusted billings in FY2015 426
% growth 30%
®2015 Veeva Systems veeva.com |
Billings Growth can be Misleading Comparative y-o-y growth: annualized subscription revenue vs. subscription billings
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16
Major Product Releases
% annualized subscription revenue growth % subscription billings growth¹
147
69
27
191
135
53
22
62%
198
170
66
31
xxx xxx
11 31
¹Subscription billings = change in subscription revenue plus change in deferred revenue
68%
49%
38% 42%
59%
39%
20%
31%
10%
63%
76%
®2015 Veeva Systems veeva.com |
Investment Highlights
43
Industry leading growth and profitability
Multiple product lines with several complementary growth vectors
Blue chip global customer base
Massive white space remaining for current products
Sustained strong operating model as we continue to innovate and scale
Well positioned to reach $1B run rate in CY2020
®2015 Veeva Systems veeva.com |
Life Sciences Industry Cloud Market Opportunity Matt Wallach, Co-founder and President
®2015 Veeva Systems veeva.com |
Sources: MarketLine Industry Profile Global Health Care Equipment & Supplies, June 2013, Reference Code: 0199-2067 was published July 2013 (Table 4). MarketLine Industry Profile Global Pharmaceuticals, Biotechnology & Life Sciences, June 2013, Reference Code: 0199-2357 was published May 2012 (Table 5).
Life Sciences Industry is Large
and Growing
Pharma
Biotech
Medical Products
Life Sciences Tools 6% CAGR
45
®2015 Veeva Systems veeva.com |
Annual Life Sciences Spending
Sources: thepharmaletter, “Worldwide pharma industry marketing investment flat in 2013,” April 2014
Battelle/R&D Magazine, 2014 Global R&D Funding Forecast, December 2013
$116B Sales &
Marketing
$195B Research &
Development
46
®2015 Veeva Systems veeva.com |
Significant IT Spend and Large Market
Opportunity
Sources: IDC, Worldwide IT Spending Guide – Life Science, March 2015; Veeva Systems estimates
$19B Infrastructure
$33B Software & Services
Annual Life Sciences IT Spending
$52B $5B+ Current Addressable Market
$2B Content Management (Vault)
$1B Master Data Management & Data (Network & OpenData)
$2B Sales Productivity &
Compliance Tools (CRM)
47
®2015 Veeva Systems veeva.com |
Annual Sales & Marketing IT Spending Best Practices: 2015 Life Science Sales and Marketing IT Benchmark Guide
$3.3B Sales & Marketing
IT Spending 2014
5% CAGR
Does Not
Include Data
Source: IDC, Best Practices: 2015 Life Science Sales and Marketing IT Benchmark Guide, July 2015
48
®2015 Veeva Systems veeva.com |
2015 Sales and Marketing IT Spending
49
Source: IDC, Best Practices: 2015 Life Science Sales and Marketing IT Benchmark Guide, July 2015
Looking forward over the next 12 months, do you anticipate your
organization-wide sales and marketing IT budget will increase, stay the
same, or decrease?
64%
21%
15%
# of Companies
Decrease
Constant
Increase
®2015 Veeva Systems veeva.com |
Veeva TAM in 2007
Core SFA Potential add-ons
$2B
Aggregate Spend
Alignments
Analytics/BI
Closed Loop Marketing
Compliance Management
Consent Management
eDetailing
Events Management
Expense Reporting
Field Email
eLearning
Incentive Compensation
Predictive Modeling
Route Planning
Sample Management
Potential Future Add-ons
CRM
7
®2015 Veeva Systems veeva.com |
Com
merc
ial
R&
D
Veeva TAM in Fall 2013
Core SFA Potential add-ons Current
add-ons
$2B
Content Management
MDM / Data
$1B $2B
CRM
8
®2015 Veeva Systems veeva.com |
Com
merc
ial
R&
D
Veeva TAM in September 2015
Core SFA Potential add-ons Current
add-ons
$2B
Content Management
MDM / Data
$1B
Registrations Tracking & Submissions Archive
$2B
CRM
9
®2015 Veeva Systems veeva.com |
New Data
Products
Com
merc
ial
R&
D
Potential Areas for TAM Expansion
Core SFA Potential add-ons Current
add-ons
$2B
Content Management
MDM / Data
$1B
Registrations Tracking & Submissions Archive
New Vault Products
$2B
CRM
10
New Product Lines
®2015 Veeva Systems veeva.com |
The Life Sciences Industry
Cloud
®2015 Veeva Systems veeva.com |
Life Sciences Industry Dynamics
Margin
Pressure
Continued
Consolidation
Multichannel
Sales &
Marketing
Increasing
Regulation
Legacy
Technology
55
®2015 Veeva Systems veeva.com |
Focused on the Industry’s
Highest Priorities
Regulatory Compliance
Research &
Development Commercial
56
®2015 Veeva Systems veeva.com |
Veeva Spans an Entire Life Sciences
Company
Regulatory
Information
Management
Investigator
Portal eTMF QualityDocs MedComms PromoMats
Customer Master
Regulatory Clinical
Trials
Quality and
Manufacturing Marketing Sales
Research & Development Commercial
Medical
Affairs
Field
Medical
KOL Data
& Services
Medical
Data Services Email Services Customer &
Compliance Data
Approved
Email CLM CRM Engage CoBrowse Align Events
Management
57
®2015 Veeva Systems veeva.com |
Integrated and Best-of-Breed
58
Regulatory Clinical Quality
SINGLE
SOURCE
OF TRUTH
VEEVA COMMERCIAL CLOUD VEEVA R&D CLOUD
®2015 Veeva Systems veeva.com |
Select Veeva Customers 300+ customers with users in over 80 countries
Enterprise Emerging Growth
59
®2015 Veeva Systems veeva.com |
Continued Cloud Innovation Major Veeva Product Releases
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 242007 2015
Major Product Releases
60
®2015 Veeva Systems veeva.com |
Large and Growing Industry
Partner Ecosystem
Software Content & Data
Implementation
& Support
61
®2015 Veeva Systems veeva.com |
Competitive Advantage
Deep
Industry-Specific
Functionality
Large Installed
Base with Strong
Customer
Success
Regulatory
Compliance in
the Cloud
Industry Expertise
Coupled with
Cloud Talent
62
®2015 Veeva Systems veeva.com |
Veeva Commercial Cloud
®2015 Veeva Systems veeva.com |
2014 New Drug Approvals Hit 18-year High
Product approvals
2014 Product approvals
2015
44 2 5 + Sources: Forbes: 2014 New Drug Approvals Hit 18-Year High. Jan 2, 2015
Forbes: The FDA Is Basically Approving Everything. Here’s the Data to Prove It. Aug 20, 2015
64
®2015 Veeva Systems veeva.com |
72%
Multichannel is Now
Want More Channels
Prefer Emails
66% Cost of Non-compliance
‘What Physicians Want,’ Publicis Touchpoint Solutions, 2012.
‘Email or snail mail from pharma?’ FiercePharma, 2012.
‘Pharmaceutical Industry Criminal and Civil Penalties.’ Public Citizen, 2012.
$247 MILLION
65
®2015 Veeva Systems veeva.com |
Face-to-face
Field-guided
Online
Self-guided
Remote
Field-guided
Field
Event
Management
Interact at Customer’s Convenience
66
®2015 Veeva Systems veeva.com |
Orchestrated Customer Journey Sales
Marketing
Digital
67
®2015 Veeva Systems veeva.com |
Today’s Life Sciences Siloes Sales
Marketing
Digital
68
®2015 Veeva Systems veeva.com |
Veeva Commercial Cloud D
ATA
C
ON
TE
NT
IN
TE
RA
CT
ION
S
Customer Master
Customer Data
KOL Data
PromoMats
MedComms
Approved
Engage
CoBrowse
Service Cloud
CLM
Events Management
Align
Multichannel Sales &
Marketing
69
®2015 Veeva Systems veeva.com |
Commercial Evolution
Field Rep Face-to-face
Digitally Enabled Rep
Multichannel Execution
Coordinated Multichannel
70
®2015 Veeva Systems veeva.com |
Enable Compliance
On-label Messaging
Sunshine Expense Capture
Electronic Signatures
Compliant Interactions
MLR Approvals
Auto Update
Auto Withdrawals
Consumption Tracking
Compliant Content
Pre-validated
Opt-in & Approvals
Samples Tracking
Sample Limits
Spend Reporting
Compliant Operations
71
®2015 Veeva Systems veeva.com |
Veeva CRM & CLM
Approved Email & Events
Veeva Network & OpenData
Vault PromoMats
Commercial Cloud Demo
29
®2015 Veeva Systems veeva.com |
Veeva Commercial Cloud Benefits
73
Multitenant cloud computing
Reduces the integration burden
Speeds acquisition payback
Improves product launches
Enables move to multichannel Improves
Compliance
®2015 Veeva Systems veeva.com |
Commercial Content Management
Market
Vault PromoMats
Vault MedComms
®2015 Veeva Systems veeva.com |
Commercial Content Management
75
Medical, Legal and Regulatory Reviews
Agency Collaboration
Distribute to CRM and other Channels
Global Searching
Apps Contracts TV Ads
Correspon-
dence
Labeling
Brochures Websites Radio Ads Medical
Letters
Print Ads
Creation Review & Approval
Distribution Storage
®2015 Veeva Systems veeva.com |
Challenges with Commercial Content
Ownership &
Control
Regulatory
Risk
Multichannel
Distribution Tracking &
Visibility
Inefficient manual
processes
Multichannel,
claims tracking
Internal & agency
collaboration
Use of outdated
materials
76
®2015 Veeva Systems veeva.com |
Content Drives Competitive Advantage
Create Approve Distribute
Analyze
Review
Consume
Optimize
77
®2015 Veeva Systems veeva.com |
Powerful Combination
• Cements leadership in life sciences commercial
content management
• Improves position to capture more of the Commercial
Cloud opportunity
• Speeds Veeva’s move to become industry standard for
enterprise content management
78
®2015 Veeva Systems veeva.com |
Veeva CRM Approved Email
®2015 Veeva Systems veeva.com |
Veeva Approved Email Productive reps, without the risk
Activity Insights Personalized Extends Value of
In-person Meeting Compliant
80
®2015 Veeva Systems veeva.com | ®2015 Veeva Systems – Company Confidential veeva.com |
57% Desktop
32% Phone
11% Tablet
Customers
50+
Number
Approved Email Success
Regions
6 Avg Open Rate
40%
Avg Unsubscribe Rate
.1%
Avg Click-through Rate
18%
‹#›
®2015 Veeva Systems veeva.com |
Veeva OpenData
®2015 Veeva Systems veeva.com |
Every Healthcare Professional
Demographic Identifiers
Credentials
Contact & Preference
Affiliations
Name
Gender
Age
Status
Specialties
Primary Practice Address
Additional Addresses
Phone & Fax
Local identifiers
HCP – HCO
RPPS, BIG, INAMI, GMC
Degrees
Certifications
Medical School
Graduation Dates
Residency
Private Practices
Hospitals
Market Access
Physicians
Pharmacists
Market Access
Physician Assistants
Dentists
Nurses
Compliance Data Privacy
Opt-in
83
®2015 Veeva Systems veeva.com |
HCP in Veeva CRM
84
®2015 Veeva Systems veeva.com |
Every Healthcare Organization
Life Sciences centric
data model reflecting
every local
Healthcare System
and organisational
structure
Hospitals
Pharmacies Health Systems
Private Practice
Locations
85
®2015 Veeva Systems veeva.com |
HCO in Veeva CRM
86
®2015 Veeva Systems veeva.com |
Data Quality Remains a Challenge
Source: Veeva Systems, “European Life Sciences Industry Survey on Customer Data”
March 2015.
87
®2015 Veeva Systems veeva.com |
Veeva OpenData Global Roadmap
AVAILABLE END of 2015 2016
Pleasanton Philadelphia
Shanghai
Sydney
Budapest Paris
OpenData Offices
88
®2015 Veeva Systems veeva.com |
OpenData KOL – Key Opinion Leader Data
Roles &
affiliations
Channel
relevance
Relationship
mapping
Content
analytics
Sentiment
analytics
Reach of
the KOL
46
®2015 Veeva Systems veeva.com |
Veeva CRM Events
Management
®2015 Veeva Systems veeva.com |
Events Management in Life Sciences
Marketing Medical Sales Outsourced Partners
Source: IMPACT: MPI, Healthcare Meeting Compliance Certificate, June 2015
$3.5B annually
1,000,000 events
Hard Coordination
91
®2015 Veeva Systems veeva.com |
The Need for a Coordinated Approach
KOL engagement
is a high priority x
Sunshine Act
focused the value
Events are a high
value element of
multichannel
strategy
Staff and external
partners need a
collaborative
process
Lack of Visibility Hinders Collaboration
92
®2015 Veeva Systems veeva.com |
Event Lifecycle
Better Events with Improved Compliance
Request
Approvals
Planning Manage
Closeout
93
®2015 Veeva Systems veeva.com |
Commercial Cloud – Growth
Opportunities
®2015 Veeva Systems veeva.com |
Commercial Cloud Growth Areas
Winning more SFA seats Sell existing CRM add-ons to
existing and new customers
Increase market share with
Veeva Network
New Comm’l Products
Develop new CRM add-ons, new
data products, new areas
Increase market share in
Commercial Content
Management
Increase market share with
Veeva OpenData
50+% 10% <5%
<5% ~15%
95
®2015 Veeva Systems veeva.com |
Veeva Vault R&D Avril England, GM Vault
Steve Harper, Director Vault Product Management
®2015 Veeva Systems veeva.com | ®2015 Veeva Systems – Company Confidential veeva.com |
What Life Sciences Industry Wants
Decrease time to commercialization
Ensure regulatory compliance
®2015 Veeva Systems veeva.com |
The Industry is Changing. Fast.
Real-time
Compliance
External Partners
& Vendors
Global
Markets
®2015 Veeva Systems veeva.com |
Trapped by Legacy Applications
Core Function Focus
Local/Departmental Long,
Complex Implementations &
Upgrades
Significant Customization or
Configuration
Costly to Support
Nearly Impossible to Upgrade On Premise
Departmental
Solutions
Regulatory
Compliance
Globalization
Collaboration
®2015 Veeva Systems veeva.com |
Disaster Recovery QA
Legacy Solutions are Complicated
Production Environment
Application Server
Documentum ECM
Oracle Database
Server Monitoring
Server Virus Protection
File Storage
Server Operating System
Content Accelerators
Enterprise Search
Annotation Server
Rendition Server
Custom Application
Server Hardware
Integration Maintenance Svcs.
Software Maintenance Svcs.
Hardware Maintenance Svcs.
Development
®2015 Veeva Systems veeva.com |
Legacy Solutions…
Proliferated Across the Enterprise
Submissions Quality eTMF
Promotional Materials Medical
®2015 Veeva Systems veeva.com |
Millions spent on
maintenance
Technology Landscape:
Costly and Complex
Multiple data centers
Numerous vendors
Multiple systems for the same
function across geographies
Countless software versions
®2015 Veeva Systems veeva.com |
Business Impact:
Slow and Inherently Risky
Greater Compliance Risk
Extended Timelines
Increased Costs
More Time Wasted on:
Searching
Reporting
Updating
Preparing for Audits
21.3% Productivity Loss
$19,000 lost per worker
213 excess employees!
IDC Bridging the Information Worker Productivity Gap 09/12
®2015 Veeva Systems veeva.com |
A New Solution is Needed ….
System
Integration
Content
Replication
Monolithic
Repository
The Answer
®2015 Veeva Systems veeva.com |
Veeva Vault:
Simplifying Technology, Streamlining Business
Applications & Platform
®2015 Veeva Systems veeva.com | ®2015 Veeva Systems – Company Confidential veeva.com |
What Makes Vault Unique
World-class
Cloud
Platform
Deep
Industry
Apps
Built-in
Regulatory
Compliance
®2015 Veeva Systems veeva.com |
Veeva Vault Enterprise Suite
Collect Manage
Archive
Publish
Clinical Regulatory
Quality
Track Submit
Platform
Sell
Market
Commercial
®2015 Veeva Systems veeva.com |
A Single Source of the Truth
Single Authoritative
Source
Increase
Internal &
External
Collaboration
Decrease
Time to
Market
Decrease Cost
of Compliance
End-to-End
Process
Visibility
Single Global
Authoritative Source
®2015 Veeva Systems veeva.com |
Process Transparency
ACROSS
REGIONS
ACROSS
PARTNERS
ACROSS
DEPARTMENTS
®2015 Veeva Systems veeva.com |
Global vs. Decentralized
Traditional
decentralized
Meets local requirements
Speed at local level
Costly, no sharing across regions
Traditional
global
Easier to maintain
Lower cost to operate
Does not meet local requirements
Act Local
Be Global
Easy to maintain
Low cost to operate
Fast to implement
Meets local requirements
Best of Both Worlds
®2015 Veeva Systems veeva.com |
Veeva R&D Suite
Collect Manage
Archive
Publish
Vault Clinical Vault Regulatory
Vault Quality
Track Submit
Vault Platform
®2015 Veeva Systems veeva.com |
Veeva Vault Clinical
Faster study start-up
Cost Savings
Inspection Ready
Remove Bottlenecks
Investigator Portal eTMF
Vault Clinical
Site Collaboration
Document Collection
Study Analytics
Built-in
Standards
®2015 Veeva Systems veeva.com |
Pro
ble
m
• Four disparate systems with manual paper processes
• No global standards or coordination
• Fractured business processes
• Limited visibility introduced compliance and audit risk
• Delays in clinical trial completion
So
lution
• Implemented Vault eTMF across all business lines
• Single global Vault in use on all continents by over 3,000 users
• 25,000 active sites in over 700 active trials
• 4M documents migrated
• Initial implementation in 12 weeks
Benefit • Reduced compliance
risk through standardized global processes
• Streamlined document collection process saving time and money
• Improved monitoring removed bottlenecks to speed doc collection
• Reduced audit findings with an inspection-ready eTMF
Top 10 Pharma Company 100% standardized on Vault eTMF globally
®2015 Veeva Systems veeva.com |
Veeva Vault Regulatory
Faster Submissions
Assembly
Integration Ready
Improve Local
Compliance
Decrease Approval
Times
Publish
Vault Regulatory
Registrations Submissions Archive
Built in Standards
Complete Traceability
Track & Manage Registrations
®2015 Veeva Systems veeva.com |
Pro
ble
m
• Legacy Documentum/FirstDoc system
• Growing cost to maintain legacy applications
• Faced a major upgrade to address regulatory findings
So
lution
• Implemented Vault Submissions live with 150 users
• Successful migration of historical content
• Early adopter expanding to use entire regulatory suite
Benefit • Addressed key findings
with standard workflows
• Reduced time to assemble submissions
• Ease of use ensured limited disruption to on-going submissions
• Lowered total cost of support and maintenance
Innovative Biotech Vault Submissions implementation with migration from Documentum
®2015 Veeva Systems veeva.com |
Veeva Vault Quality
Track Standardize Train
Vault QualityDocs
Built-in Change Control
SOP Access & Management
R&U Compliance
Lifecycle Auditing
Control
Reduced Compliance
Risk
Improved Productivity &
Oversight
Globally Enforced Best
Practices
Always inspection-
ready
®2015 Veeva Systems veeva.com |
Pro
ble
m
•Managing controlled quality documentation across four global sites and two electronic systems
•Disparate processes introduced compliance risk
•Four document controllers could not share work across sites
•Very difficult to find documents, assess their current status, and reduce document cycle time
So
lution
•Implemented Vault QualityDocs globally and replaced two systems in six weeks
•Manages manufacturing documentation including batch records, specs and test methods
•Added support for Quality & Supplier Agreements
•Integration with Single Sign On (Okta) and LMS (ComplianceWire)
Benefit •Decreased compliance risk
with global content & process oversight
•Increased efficiency by sharing work across document controllers
•Reduced document cycle time through improved visibility
•Improved user adoption, and reduced support costs
•Reduced cost and time associated to document audits
EU Midsized BioPharma Vault QualityDocs for globally distributed manufacturing documentation
®2015 Veeva Systems veeva.com |
Using the Entire Veeva R&D Suite
Collect Manage
Archive
Publish
Vault Clinical Vault Regulatory
Vault Quality
Track Submit
Vault Platform
®2015 Veeva Systems veeva.com |
Pro
ble
m
•Archaic paper, file share, and homegrown systems caused significant business challenges across the drug development lifecycle
•Costly to maintain and difficult to support
•Lost productivity locating, or recreating content
•New regulatory requirements could not be easily met
So
lution
•Implemented eTMF for Clinical live with nearly 1400 global active sites, 780 global users across US, EU, and Japan
•Added a Platform Model Repository & QualityDocs
•Enterprise Integration with Single Sign On (Okta) and LMS (ComplianceWire)
•Also using Vault PromoMats and MedComms. Currently evaluating Vault Regulatory
Benefit •Reduced risk and increased
productivity by using Vault across departments
•Streamlined cross departmental business processes
•Improved team productivity with centrally shared work product
•Reduced IT cost for support and administration by centralizing on Vault
•Met regulatory requirement for complete and available documentation
Top 20 Pharma Standardizing on Vault Across the Enterprise
®2015 Veeva Systems veeva.com |
Vault Demonstration
®2015 Veeva Systems veeva.com |
Vault Momentum Since IPO
Vaults Documents Doc Views
7x 8x 10 0 x
®2015 Veeva Systems veeva.com |
World Class Platform:
Performance Improvements
0
0.5
1
1.5
2
2.5
3
3.5
V7 V8 V9 V10 V11 V12
Avg
Tim
e (
Se
co
nd
s)
Doc View
Search
Library
®2015 Veeva Systems veeva.com |
Vault Delivers Significant Benefits
Faster Time to Market
Lower Compliance Risk
Lower Costs
Improve Global
Visibility and Control
®2015 Veeva Systems veeva.com |
Ed Gemo Vice President and Chief Information Officer –
Halozyme Therapeutics
Customer Fireside Chat
®2015 Veeva Systems veeva.com |
Building a $1B+ Growth Company
Scale Products Customers
125
®2015 Veeva Systems veeva.com |
Questions