COMPANY PROFILE -Veeva Systems Inc.
Business Sector :Software Technology
Operating Geography :United States, North America, Global
About Veeva Systems Inc. :
Veeva Systems Inc. is a cloud computing business specialising on pharmaceutical and life sciences applications. It was created in 2007 by Peter Gassner and Matt Wallach and is based in Pleasanton, California. It operates in the life-science industry using software as a service (SaaS). Enterprise applications, multichannel platform, customer relationship management, and content management are among the services provided by the company. The company works with clients all over the world and has over 875 customers, ranging from the world's top pharmaceutical firms to new biotechs. Customers ranging from small, growing biotechnology firms to divisions of multinational pharmaceutical manufacturers benefit from the company's best-of-breed offering, which addresses operating and regulatory needs. From R&D to commercial, its industry cloud solutions deliver data, software, services, and a broad network of partners to support the most critical tasks and assists businesses in bringing goods to market more quickly and efficiently while maintaining compliance. As of early 2023, Veeva Systems employed over 5,600 people.
Veeva System's USP lies in it being a leading provider of industry cloud solutions for the global life sciences industry. The mission statement of the company reads, "Committed to innovation, product excellence, and customer success".
Veeva Systems Inc. Revenue :
US$ 2,155.00 million - FY ending 31st January 2023 (y-o-y growth 16%)
US$ 1,851.00 million - FY ending 31st January 2022
Competitive Analysis of Veeva Systems Inc.
The SWOT analysis for Veeva Systems Inc. is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. 900+ Clienteles include 6 largest pharma and biotech companies globally
2. Robust technological upgradations and new launches
3. 50+ software and cloud products providing complete life-science industry solutions
4. Increasing R&D expense over the years
5. Consistent profits and revenue growth
| 1. Penalized for fraudulent practices of theft and misappropriation
2. Revenues are concentrated within a small number of key customers
3. Revenues are generated by sales to customers in the life sciences industry
|
| Opportunities | Threats |
1. Conversion to PBC can positively change company’s market image
2. Covid-19 research urgency might continue to increase company revenues
3. Collaboration with major corporations can lead to company growth
| 1. Reliance on third-party providers to a large extent increases business risk
2. Major competitor engaged in malpractices might harm company growth
|
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Detailed SWOT Analysis of Veeva Systems Inc.
Strength
1. 900+ Clienteles include 6 largest pharma and biotech companies globally: Veeva is considered as the global leader in the sphere of cloud software for the life sciences industry serving more than 975 customers stretching from the world’s largest pharmaceutical companies to emerging biotech. Six of the topmost twenty companies collaborated with Veeva Systems to systematize on Veeva Vault QMS for substantial efficacy and finer perceptibility across the business. With a rise in the number of organizations alongside 175 biopharma, generics, MedTech companies and contract manufacturers, Vault QMS recorded strong operational growth.
2. Robust technological upgradations and new launches: Veeva Systems reported launch of new innovative applications like Veeva Vault Product Surveillance and new modular content potential in Veeva Vault Promomats where the first one i.e., the Vault Product Surveillance proved to be an astute global reporting resolution tree consolidating censorious post market surveillance pursuits for the medical device and diagnostics empowering the companies to monitor and handle complaints proactively alongside acclimating the regulatory changes for betterment of overall quality upshots while the Vault Promomats supports life science marketers to accelerate with creation, distribution and review over channels permitting brands to deliver complaint content at a rapid speed. Veeva is also collaborating to come up with an extensive ecosphere of authority tools to enhance restate and content creation cost-effectively.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Veeva Systems Inc. is presented below in a table followed by the detailed analysis report:
| Political | Economic |
1. Investigation of US based cloud service providers by EU
2. Government regulations for cloud computing ambiguous in India
| 1. Spending on cloud services to reach $1 trillion by 2024 globally
2. Increasing costs to avail cloud-based services can affect company profits
|
| Social | Technological |
| 1. Ease of use and trust building important for attracting consumers to cloud computing | 1. Amazon’s launch of cloud based financial service platform is a future concern
2. Emergence of hybrid-cloud services brings new opportunities
|
| Legal | Environmental |
1. ECJ declaring US based cloud services incompatible with EU privacy laws
2. Complex data protection and privacy regulations are burdensome
| 1. Increasing carbon footprint of data centres needs urgent solutions |
Veeva Systems Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Veeva Systems Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Increasing carbon footprint of data centers needs urgent solutions: Communications industry is on the track to generate more carbon emissions than the aviation, automotive and energy sections causing the Earth temperature to escalate leading to global warming which brings about melting of the polar ice caps, the disturbance of the animals’ natural habitats, the rising of the sea levels, extreme weather events inviting a series of perilous effects. The bulk of energy consumed by the data centers endures to double in comprising four years which means that they have the fastest-growing carbon footprint within the IT sector alongside the amount of data that each person creates is broadening enormously with time. Veeva Systems must ponder on reduction of carbon emission by switching to alternative technologies that won’t lead to further damage, contributing to a safer environment.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
Major Brands :
- Veeva Vault
- Veeva OpenData
- Veeva Nitro
- Veeva CRM
- Veeva Crossix
Veeva Systems Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| Veeva Systems Inc. Covid-19 Impact Analysis |
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| Veeva Systems Inc. BCG Analysis |
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| Veeva Systems Inc. Segmentation, Targeting and Positioning (STP) Analysis |
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| Veeva Systems Inc. Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Veeva Systems Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://d18rn0p25nwr6d.cloudfront.net/CIK-0001393052/16622f8e-5390-4d16-8a73-73881acbcd64.pdf
2. U.S. District Court Issues Favorable Decision for IQVIA Against Veeva -
https://www.businesswire.com/news/home/20210510005448/en/
3. EU privacy body investigates use of American cloud services - https://cloudcomputing-news.net/news/2021/jun/08/eu-privacy-body-investigates-use-of-american-cloud-services/
4. India: Cloud Service Providers To Be Regulated By Industry - https://www.mondaq.com/india/telecoms-mobile-cable-communications/986568/cloud-service-providers-to-be-regulated-by-industry
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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