Veeva Systems today introduced Veeva Network Product Master, the latest addition to the Veeva Network suite of master data management (MDM) applications built specifically for life sciences. Veeva Network Product Master is a cloud-based solution that provides a flexible global view of product information. Alongside Veeva Network Customer Master for customer data, Veeva Network Product Master signals the company’s expansion into multi-domain MDM for life sciences.
Managing pharmaceutical products through their lifecycle can be difficult, costly, and complex across multiple teams, stakeholders, and geographies. Elements such as brand information, trade names, groupings, and configurations can vary by country, system, and business area. Consequently, life sciences organizations cannot easily understand markets, launch new products, analyze market performance, or ensure coordinated global branding and messaging.
Veeva Network Product Master solves this by helping enterprise teams manage, use, and access accurate product information across geographies. Now life sciences companies can have a clear view into product definitions, groupings, and hierarchies for effective product management and better enterprise visibility wherever the product is used worldwide.
Veeva Network Product Master can be used as a commercial product master or as a R&D product master. With a central and authoritative product view, life sciences can achieve many benefits, including, for example, the ability to accurately calculate the global market potential and market share of a drug or comply with reporting requirements.
“Veeva Network Product Master provides a better approach to managing product data and establishing consistency in global branding, product launches, and competitive analysis,” said Harte Nielson, director of Veeva Network Strategy. “Life sciences can move beyond spreadsheets and legacy MDM systems with a trusted product master reference to scale go-to-market programs globally and streamline local execution in every country.”
Veeva’s continued innovation in industry-specific MDM is informed by the requirements of leading life sciences companies worldwide. With more than 40 customers, Veeva Network is steadily replacing legacy toolkits as a multi-domain MDM solution built specifically for life sciences.
About Veeva Systems
Veeva Systems, Inc. (veeva.com) is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 400 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.
This release contains forward-looking statements, including the market demand for and acceptance of Veeva’s products and services, the results from use of Veeva’s products and services, and general business conditions, particularly in the life sciences industry. Any forward-looking statements contained in this press release 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 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. 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-K for the period ended January 31, 2016. This is available on the company’s website at veeva.com under the Investors section and on the SEC’s website at 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.