By creating additional features, it`s more about adding a competitive advantage to Veeva in the life sciences market than bypassing its reliance on Salesforce. The 10-year agreement between the two companies is explicitly limited to the sale of its distribution automation products “only to pharmaceutical and biotechnology pharmaceutical manufacturers.” In return, Salesforce waived direct competition in the same market, while Veeva would only change platforms if it broke the deal. Veeva Systems Inc. is a leading provider of cloud-based software for the global life sciences industry. Veeva is committed to innovation, product excellence and customer success and has more than 190 clients, from the world`s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in san Francisco Bay with branches in Europe, Asia and Latin America. For more information, see www.veeva.com. For more details on the agreement, see Form 8-K that Veeva submitted to the SEC today. And this potential $6 billion market is not all Veeva can do. Veeva`s agreement with Salesforce.com prevents it from selling CRM solutions on the salesforce platform to customers outside the life sciences industry.
Saleforce is also limited by selling to life sciences customers. However, the terms of the agreement do not limit Veeva to marketing applications that are not mounted on the Salesforce platform to other sectors. This means that Veeva can actively sell its Vault applications beyond its core market. According to Peter Gassner, CEO of Veeva, the company took a risk by relying on Salesforce.com even before the ISV model was fully realized. When the company started, salesforce didn`t even have an OEM (Original Equipment Manufacturing) program. Lisa Barbadora Veeva Systems 610-420-3413 email@example.com “Throughout our history, salesforce.com has been an excellent partner,” said Peter Gassner, CEO of Veeva Systems. “The Salesforce1 platform provides the ideal cloud infrastructure for our CRM product, so we can focus on marketing the industry applications and continuous innovations our customers need.” “In collaboration with salesforce.com, Veeva has launched huge innovations in the life sciences sector,” said Keith Block, President and Vice President, salesforce.com. “Salesforce.com is committed to partnering with industry leaders, such as Veeva, to achieve new levels of success.” From a partnership perspective, Salesforce and Veeva have reached an agreement providing that “subject to certain exceptions and specified corrective measures for violations salesforce.com no direct competing application of Veeva`s CRM application for distribution automation, which directly targets the pharmaceutical/biotech industry.” This agreement effectively prevents Salesforce from entering the life sciences sector.