European Survey Shows Quality Customer Reference Data Critical to Digital Engagement
9.11.2020 17:30:00 EET | Business Wire | Press release
According to new research from Veeva Systems (NYSE: VEEV), customer data is critical to digital transformation initiatives for European life sciences companies. Findings from the Veeva 2020 European Customer Data Survey reveal that commercial data leaders recognize the value in harmonizing data for a 360-degree view of customers, with 77% citing it as the main driver for better customer data. This is especially critical as more companies transition to digital engagement as a primary way to connect with healthcare professionals (HCPs).
Nearly all (91%) respondents say customer reference data is a global strategic asset. Given the importance of customer data, more than three-quarters have a data quality initiative underway or planned, signaling an industrywide move to improve their data.
“There is increasing urgency throughout the industry to improve the accuracy of customer reference data to better support digital transformation efforts,” said Rebecca Silver, general manager, Veeva OpenData. “Having a complete, full picture of the customer is key to getting the right insights and accelerating digital engagement.”
Barriers to Data Quality and Integration
The majority of respondents (90%) say that field teams are challenged with aging and incomplete data. In fact, most (89%) say that customer data quality is a significant challenge. Issues with poor data quality are likely driving data enhancement programs, with most respondents (88%) citing data improvement as a top priority for their organization.
Over two-thirds have data that exists in multiple, unintegrated systems. This lack of integration makes it harder to access customer data. More than three-quarters cite difficulty matching all channels of data to get a single view of their customer interactions. Majorities (55%) report dissatisfaction enabling reps to engage new HCPs with real-time access to customer data.
The Need for Better Governance
Respondents show a lack of confidence in their organizations’ ability to manage customer reference data and implement successful data management strategies. More than half (57%) say their organizations lack an efficient data governance model and only 10% of companies surveyed strongly agree they are satisfied with their data governance.
Quality data is key to field performance, which explains why the majority of respondents (77%) are focused on better data access to improve sales force effectiveness. Organizations with strong data governance and initiatives to improve data management are more likely to give their reps easy access to customer profiles and fast data change requests (71% vs. 53%).
In other news today, Veeva also announced the findings of the Veeva 2020 North America Customer Reference Data Survey Report revealing that accurate customer data is essential to digital transformation efforts. Read today’s press release to learn more.
The Veeva 2020 European Customer Data Survey examines the current state of data quality within life sciences companies across Europe. The findings represent the experiences and opinions of more than 90 commercial data owners and represent all of the major European markets, with the majority of respondents from France, Italy, the UK, and Spain. Download the full results at veeva.com/EUDataSurvey.
Additional Information
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
Follow @veeva_eu on Twitter: twitter.com/veeva_eu
Like Veeva on Facebook: facebook.com/veevasystems
About Veeva Systems
Veeva Systems Inc. is a leader in cloud solutions—including data, software, and services—for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 900 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. The company is headquartered in the San Francisco Bay Area, with offices throughout North America, Europe, Asia, and Latin America. For more information, visit veeva.com/eu.
Forward-looking Statements
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 (including the on-going impact of COVID-19), particularly within 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-Q for the period ended July 31, 2020. 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.
Research Highlights
Veeva 2020 European Customer Reference Data Survey
The Veeva 2020 European Customer Reference Data Survey examines the current state of customer reference data within life sciences across Europe through the opinions and experiences reported by commercial data owners. Findings indicate that the quality and integration of data need to be significantly improved.
Satisfaction with Customer Data
- Most (89%) say that customer data quality is a significant challenge for the businesses they support, with 41% in strong agreement with this statement.
- Over two-thirds of respondents (68%) report that their organization has customer data in multiple systems.
Importance of Customer Data and Data Governance
- The majority of respondents (91%) state that their organization views customer reference data as a global strategic asset.
- The importance of customer data to support life sciences strategic initiatives is well recognized, with 88% of respondents reporting that customer data is essential to launching new products or sales models.
- A minority (10%) of respondents strongly agree that they are satisfied with their data governance model.
Industrywide Move to Improve Customer Reference Data
- Organizations are changing their approach to customer data, with 78% of respondents reporting that they are undertaking or planning a customer data enhancement initiative.
- Top data enhancement initiatives include improving data access and field force effectiveness (77%), gaining a 360-degree view of customers (77%), and enhancing data quality for accurate reporting /analytics (71%).
® 2020 Veeva Systems Inc. All rights reserved. Veeva and the Veeva logo are trademarks of Veeva Systems Inc.
Veeva Systems Inc. owns other registered and unregistered trademarks.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201109005399/en/
Contact information
Roger Villareal
Veeva Systems
925-264-8885
roger.villareal@veeva.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Fortegra Appoints Guy House as SVP, Treaty Reinsurance27.10.2026 11:00:00 EET | Press release
The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and part of DB Insurance Co., Ltd., has appointed Guy House as Senior Vice President, Treaty Reinsurance. In this role, he will lead Fortegra’s treaty reinsurance underwriting strategy from the Company’s UK office. Mr. House brings more than 18 years of London market experience. He has written and bought reinsurance across multiple product lines and tiers, including property, marine, energy, terrorism and aviation. His expertise spans treaty and retrocession reinsurance, direct and facultative (D&F) insurance, exposure management, alongside capital raising and management. Previously, Mr. House was Head of Property at Tamesis Dual, having joined from Markel International where he worked as the Senior Property D&F Underwriter. He is ACII qualified and holds a degree in Economics from Durham University. About Fortegra For more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management s
TetraMem Advances Analog In-Memory Computing with Tapeout of New 12nm AI SoC27.10.2026 10:41:00 EET | Press release
TetraMem, a Silicon Valley-based pioneer in analog in-memory computing (A-IMC), announced the successful tapeout of MLX300, the world’s first 12nm A-IMC system-on-chip (SoC) based on multi-level RRAM technology. The SoC was developed using industry-leading EDA solutions enabled through Synopsys Cloud FlexEDA, and this milestone represents a major step in bringing this architecture toward advanced-node, production-ready computing. “TetraMem’s architecture represents a fundamentally new approach to AI computing by converging memory and compute together,” said Glenn Ge, CEO and Co-founder of TetraMem. “Leveraging Synopsys EDA solutions through Synopsys Cloud have been instrumental in enabling efficient global collaboration and accelerating our path from research innovation to manufacturable silicon.” The MLX300 tapeout follows TetraMem’s recently announced MLX200/MLX200M multi-level RRAM A-IMC SoC implemented on a commercial 22nm process, marking two successful full-mask tapeouts achieved
Exeon Analytics Introduces AgentGuard for Visibility and Threat Detection Across AI Use and Agent Activity27.10.2026 10:30:00 EET | Press release
Exeon Analytics today introduced Exeon.AgentGuard, a new AI security solution designed to give organizations visibility into approved and shadow AI use, autonomous agent activity and the data flows created through connected tools and external services. Building on its expertise in AI-driven behavioral analytics and threat detection, Exeon expands its cybersecurity capabilities to address emerging risks associated with the rapid adoption of agentic AI. Bringing visibility, addressing data leakage and rogue AI agent behavior As enterprises increasingly adopt AI agents, maintaining visibility into their activities becomes critical. Whether operating autonomously or on behalf of employees, organizations need to understand what AI agents are doing, which systems and data they access, and how they interact with external services. Exeon.AgentGuard provides security teams with visibility into AI agent activities by leveraging existing data sources, without requiring additional agents or comple
Former Nokia Technologies C-suite Executive Joins Sisvel to Lead Creation of New Ventures Unit27.10.2026 10:04:00 EET | Press release
Stavros Kyris has joined Sisvel to lead the formation of Sisvel Ventures, which has a wide-ranging remit to explore opportunities outside of Sisvel’s core areas of business. Kyris previously held a number of senior roles at Nokia and from 2019 until earlier this year was Chief Strategy, Financial and Operating Officer of Nokia Technologies. Before that, he spent five years as Chief of Staff to Nokia’s CEO, having formerly worked in corporate business development, strategy and M&A at the company. Sisvel Ventures will identify and develop IP-based business projects that do not sit within Sisvel’s established standard essential patent (SEP) pool licensing operation. It will draw on expertise within the broader company while functioning separately from it. Senior Sisvel executives Matteo Sabattini and Leonardo Saroni will join Kyris in building the new unit. “Sisvel Ventures is an exciting endeavour that I am delighted to help launch,” says Kyris. “Sisvel has a reputation for its bold, ent
Institutional Investors and Wealth Advisors Remain Bullish on Private Markets, With a Sharpened Focus on Liquidity: New Report From BBH Investor Services27.10.2026 10:00:00 EET | Press release
Private markets are growing in importance to investors’ overall portfolios, according to new research from Brown Brothers Harriman (BBH) Investor Services today. In BBH’s second annual Private Markets Investor Survey, over a quarter of investors say more than 30% of their investments will be allocated to private markets strategies in the next five years. Most investors (84%) plan to increase their private markets investments within the next two years, with private equity ranking as the top target for new investment (54%), up 16 points from last year, followed by private credit (44%), up 20 points year-over-year. The survey captures the views of 500 institutional investors and wealth advisors in the United States, the United Kingdom, Germany, Switzerland, and Japan. Liquidity emerges as a top priority for investors in this year’s report. Investors signaled that their preferred window for capital deployment in private markets is four to six years, followed by preference for an even short
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom