The impending split between CRM giants Salesforce and Veeva has sent shockwaves through the pharmaceutical and biotech industries. With the official separation set for September 2030, companies are under pressure to choose a side sooner rather than later.
Both Salesforce and Veeva have been actively enhancing their offerings to entice drugmakers to commit to their respective platforms before the split. Veeva unveiled its Vault CRM Suite in April 2024, while Salesforce recently upgraded its Life Sciences Cloud with advanced AI capabilities.
Ernie Payne, a senior vice president at Conexus Solutions, emphasizes the importance of early decision-making in CRM migration. While the focus may currently be on attracting large pharmaceutical companies, Payne stresses the significance of considering the needs of the entire industry, including small and mid-sized companies.
Choosing between Salesforce and Veeva goes beyond brand loyalty – it’s about selecting a platform that aligns with a company’s specific requirements. Tim White, the U.S. chief digital and technology officer at GSK, highlights the critical role a CRM plays in managing customer relationships effectively. GSK’s early adoption of Veeva’s Vault reflects the company’s strategic approach to leveraging technology for growth.
According to Conexus customer polling, only a fraction of companies have fully migrated to a new CRM, with many still in the evaluation phase. Payne warns that smaller companies risk falling behind if they delay the decision-making process, potentially leading to challenges in meeting migration deadlines.
While Salesforce and Veeva offer unique strengths, such as AI capabilities and user-friendly interfaces, both providers are evolving to meet customer demands. Payne anticipates a convergence in features between the two platforms, driven by competition to deliver the best CRM solutions.
The rapid pace of innovation in AI and other technologies is transforming the CRM landscape, presenting exciting opportunities for companies. However, Payne urges caution in releasing new features, emphasizing the need for thorough testing to avoid negative impacts on users in the life sciences sector.
As the CRM industry prepares for a seismic shift, companies must carefully weigh their options and proactively plan for the future to ensure a smooth transition to a new platform. The countdown to 2030 is underway, and the choice between Salesforce and Veeva will shape the digital landscape of the pharmaceutical and biotech sectors for years to come.
