Veeva Systems Explainer Video [Illustrate It Video]

This video provides an in-depth exploration of the critical challenges associated with maintaining reliable customer reference data within pharmaceutical sales operations and introduces Veeva's solution suite designed to address data quality and compliance. The core premise is that outdated, untrustworthy, or slow-loading data directly impedes sales representatives' productivity and leads to missed opportunities for meaningful customer engagement. The video establishes the context that even standard vendor data refreshes are often too slow and insufficient to keep pace with the dynamic nature of healthcare professional (HCP) and organization data.

The presentation focuses on Veeva Open Data as the primary solution for delivering leading-edge innovation in customer and compliance data management. Open Data is positioned as a service that ensures data is "always right, right where you need it," specifically within the CRM system used by field teams. The mechanism for achieving this high standard of currency involves proactive updates and real-time signaling, leveraging insights gathered across the industry's largest CRM community. This community approach allows for continuous data validation and rapid identification of changes, minimizing data decay which is a persistent problem in life sciences commercial operations.

A significant value proposition highlighted is the service component, emphasizing that expert data stewards are available to resolve data inquiries quickly, with most resolutions occurring in less than a day. This rapid response capability is crucial for ensuring reps can engage with customers promptly and maintain compliance without being stalled by data quality issues. Furthermore, the video stresses the simplicity of predictable pricing and ongoing innovation, ensuring maximum value from the data investment. The narrative culminates by introducing the synergistic benefits of managing Veeva Open Data using Veeva Network. This combination eliminates complex, time-consuming data maintenance routines that typically burden IT or commercial operations teams. By integrating these two platforms, pharmaceutical companies gain the most reliable customer data, which is always up-to-date and instantly available in the CRM, ultimately driving better-informed representatives and more meaningful customer interactions.

Key Takeaways: • Data Decay Hinders Productivity: The primary challenge addressed is that quickly outdated and untrustworthy data directly results in missed opportunities for sales reps to engage effectively with healthcare professionals (HCPs), necessitating a real-time data management solution. • Veeva Open Data for Data Quality: Veeva Open Data is presented as a comprehensive service providing current and compliant customer reference data, ensuring the foundational data layer for commercial operations is robust and reliable. • Proactive and Community-Driven Updates: Data currency is maintained through proactive updates and real-time signaling derived from the industry's largest CRM community, establishing a collective intelligence model for data validation and maintenance. • Rapid Data Stewardship Service: A key service differentiator is the availability of expert data stewards who resolve customer data inquiries rapidly, with the majority of issues addressed in under 24 hours, minimizing downtime for field teams. • Compliance Assurance: The solution is designed to support compliance requirements, ensuring that reps are operating with accurate, validated information, which is critical for regulated interactions in the life sciences sector. • Synergy of Open Data and Network: Utilizing Veeva Open Data in conjunction with Veeva Network allows organizations to eliminate complex, manual data maintenance routines, automating the often-burdensome processes required to keep CRM data clean and current. • Instant Availability in CRM: The integrated solution ensures that the most reliable, up-to-date customer data is instantly available within the CRM system, directly supporting the field force's need for immediate, actionable intelligence. • Improved Commercial Outcomes: The ultimate goal of the data solution is to produce better-informed sales representatives, leading to higher quality, more meaningful customer interactions and optimizing commercial engagement strategies. • Predictable Investment: The service offers simple, predictable pricing, allowing companies to budget effectively while benefiting from continuous innovation in data management technology.

Tools/Resources Mentioned:

• Veeva Open Data
• Veeva Network
• Veeva CRM (Implied as the destination system for the data)

Key Concepts:

• Customer Reference Data: Foundational data pertaining to healthcare professionals (HCPs), organizations, and their affiliations, necessary for accurate targeting and interaction tracking within the CRM.
• Real-Time Signaling: The process of instantly detecting and communicating changes in customer data across the network, ensuring rapid data synchronization.
• Data Stewards: Expert personnel responsible for validating, cleaning, and resolving discrepancies in customer data, ensuring high quality and compliance standards.
• CRM Community: The collective user base of Veeva CRM products whose activity and feedback contribute to the validation and updating of the shared Open Data pool.