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Veeva's Technology Partner Joins Verix to Boost CRM Platform

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Veeva Systems Inc.’s (VEEV - Free Report) Technology Partner Program recently collaborated with Verix to integrate insights and suggestions into the Veeva CRM (Customer Relationship Management) platform, based on its AI (Artificial Intelligence)-driven analytical engine. Notably, this will help Veeva CRM boost its performance and fortify Veeva Systems’ foothold in cloud-based services in the healthcare space.

In fact, Veeva Technology Partner Program includes software providers that offer the best AI-based solutions for Veeva Systems’ suite of products. The program thus allows the company to provide customers with quality healthcare services in the industry.

Shares of Veeva Systems inched up 2.1% to $108.87 at close, following the announcement.

Notably, California-based Verix offers innovative cloud-based analytic applications to streamline commercial operations in the healthcare industry. It can thus enable Veeva CRM to identify pressing issues and respond promptly, enhancing business opportunities.

About Veeva CRM

The Veeva CRM suite is designed to deliver intelligent customer engagement, using the right customer data with a view to deliver seamless customer experience. Notably, it is an integral part of Veeva Commercial Cloud, an analytics and AI-ready commercial data warehouse of the healthcare industry. It includes other products like Veeva Events Management, Veeva Align and Veeva OpenData.

Recently, Veeva System’s CRM team released a major user interface refresh called the Sunrise.

In fact, in the last reported quarter, a top pharmaceutical company selected Veeva CRM for a global rollout.

AI & Cloud-Based Services — Popular in Healthcare

AI and cloud-based computing are being used ubiquitously by U.S. healthcare companies. AI provides the industry with robotics, IoT (Internet of Things) and 3D printing.

Meanwhile, cloud-based applications are cost effective and help streamline operations through the use of electronic health records, electronic medical records and predictive analytics.

Some other bigwigs that offer cloud-based healthcare services are Cerner Corporation (CERN - Free Report) and athenahealth (ATHN - Free Report) . Cerner’s HealtheIntent and athenahealth’s cloud-based big data network athenaNet deserve a special mention here.

Market Prospects

BCC Research says that the global market for cloud technologies in healthcare is expected to reach $35 billion by 2022, at a CAGR of 11.6%.

Despite bright market prospects, we believe Veeva Systems is likely to face intense competition from HMS Holdings Corp (HMSY - Free Report) , which is a leading provider of data services to the U.S. healthcare industry.

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