Veeva or Salesforce? We discuss Vendors Management, Digital transformation, MarTech & more!

This video directly addresses key areas such as Veeva CRM consulting, digital transformation in the pharmaceutical and life sciences industries, strategic vendor partnerships, data governance, regulatory compliance, and the effective adoption of technology solutions. The discussion around Veeva vs.

This video features Danielle Bateman, a Digital Transformation Pharma Executive, discussing crucial aspects of vendor management and digital strategy within the pharmaceutical and MedTech sectors. The conversation explores how to cultivate strategic, win-win partnerships with vendors, navigate the complexities of global versus local governance for technology solutions, and address the significant decision pharma companies face regarding their CRM platforms, particularly the ongoing shift from Veeva to Salesforce. Bateman underscores the unique regulatory and compliance challenges inherent in the pharma industry, the necessity of cost-effective solutions for emerging markets, and the paramount importance of change management and user adoption for successful digital transformation initiatives. The discussion also touches upon innovative concepts like value-based contracting for vendor arrangements and leveraging early adopters to champion digital tool adoption.

Key Takeaways:

• Strategic Vendor Partnerships & Trust: Building win-win relationships with vendors in pharma requires moving beyond RFPs to preferred vendor status, fostering shared outcomes, and establishing trust, especially given stringent compliance and regulatory requirements.
• Veeva vs. Salesforce CRM Migration: Pharma companies face a critical business decision regarding their CRM platform (Veeva or Salesforce) by 2030, with either path necessitating significant changes and impacting their technology ecosystems and partner networks.
• Global Governance vs. Local Empowerment in MarTech: A key challenge is balancing a global tech strategy with local market relevance and cost-effectiveness, particularly in emerging markets, while ensuring global providers meet high standards for data privacy and regulatory compliance (e.g., GDPR).
• Digital Transformation & Change Management: The biggest hurdles in digital transformation are change management and user adoption. Success hinges on identifying and empowering early adopters as internal champions to drive widespread acceptance of new solutions.
• Value-Based Contracting for Vendors: An innovative approach involves extending value-based contracting (common for medicines) to vendor arrangements, tying incentives to measurable outcomes like increased share of voice or improved patient outcomes, with AI and tech enabling better measurement.
• Regulatory Compliance as a Core Vendor Requirement: Any third-party vendor in the pharmaceutical sector must meet the most stringent compliance standards due to the high stakes of data breaches and the broad regulatory impact across global operations.