In less than three months, more than a dozen small- to medium-sized (SMB) life science companies in the U.S. have selected multitenant, cloud-based Veeva customer relationship management (CRM), showing a steady rise in organizations outside “Pharma’s Top 50” turning to the cloud for enterprise solutions. Cloud CRM is any cloud-based technology that streamlines and harnesses a company’s customer data for improved customer service and overall revenue.
The pharmaceutical industry is facing more change and challenge than ever – the patent cliff, increased regulations, pricing pressures, and limited physician access, to name a few. These unprecedented changes are forcing companies to rapidly adapt their sales and marketing models to stay ahead.
In the last five years, more than 75 SMB life sciences companies have chosen Veeva CRM, offering companies an affordable per-seat pricing model, while still providing access to the same world-class hardware and software leveraged by the top pharmaceutical companies. Veeva is a provider of cloud-based business solutions for the global life sciences industry.
"Compared with other vendors, Veeva CRM seems to be the most logical -- meaning it's easy for users to figure out and fairly obvious how to do something new or different," said Hokan Ojert, vice president of sales for Valeritas. "Even the analytics aspect of Veeva CRM is painless -- what used to take multiple steps in and out of different applications with our previous system is now aggregated neatly within Veeva and accessible in a click or two. This streamlined technology approach allows us to focus on what we are supposed to be doing...supporting our physicians."
The cloud enables growing SMB life sciences organizations to quickly and efficiently scale up or down to meet demand. Changes can be made in mutes using simple point and click configuration without vendor intervention or the resulting expense, and system functionality can be easily extended through free integrations with outside applications and data sources.
"With Veeva CRM, we can make configuration changes, modify fields, add users or change territories anytime without ever calling Veeva or waiting for vendor support," said Heather Beaudoin, Questcor's director, commercial analytics and sales operations. "In fact, we can manage the entire system with just one-half of a full-time employee versus 5, 7 or even 10 FTEs if you have a complicated on-premise system. Veeva's technology leads to vendor independence, and it's proving a big advantage for us."
Enterprise-class CRM systems have proven cost-prohibitive for most SMB life sciences companies, but have found an alternative solution where they can access enterprise-class software and hardware at a much lower cost structure. The traditional client/server CRM applications are typically over the budget, especially when ongoing maintenance and upgrade costs are factored in.
"Many smaller pharmaceutical companies that together make up a large portion of the fabric of our industry are seeing the incredible value of an industry specific, cloud-based solution,” said John Dawley, VP of sales, Veeva. “They need a fast, nimble, cost-effective solution and Veeva is there to help them achieve their goals."
Edited by Allison Boccamazzo