Veeva Systems Announces New DAM Solution For Life Sciences

Veeva Systems (NYSE:VEEV) recently introduced Veeva Vault Digital Publishing, a digital asset management (“DAM”) solution for life sciences companies. The platform allows users to update digital content using Vault PromoMats or Vault MedComms to any channel.

Vault Digital Publishing is expected to be available by the end of 2018.

Per management, this DAM solution provides an innovative way for the life sciences companies to publish or withdraw any digital channel. The platform leverages on Amazon (NASDAQ:AMZN) CloudFront.

What is DAM?

DAM is a business phenomenon used for organizing rich media, which includes photos, music, videos, animations, podcasts and other multimedia content. It is also used for managing digital rights and permissions.

Per Markets And Markets, the DAM market is projected to see a CAGR of 18.3% from $2.44 billion in 2017 to $5.66 Billion in 2022. Given the strong prospects, Veeva Systems’ latest initiative is likely to provide it with a competitive edge in the niche space.

For investors’ notice, apart from Vault Digital Publishing, Veeva Vault PromoMats is also a DAM capability that helps brand managers create portals, and organize and showcase digital content. Recently, Veeva Vault PromoMats was adopted by Roche, a research-based healthcare company.

Shares Up

Veeva Systems has outperformed its industry in a year’s time. The stock has rallied 61% compared with the industry’s 6.6% growth. The current level also compares favorably with the S&P 500's return of 2.8%.

Growing demand for cloud-based vault applications, product launches, an industry-focus approach, need-oriented products and international expansion are key drivers for Veeva Systems. The stock has a Zacks Rank #1 (Strong Buy).

Veeva Systems Inc. Price and Consensus

Products Portfolio Strong

Veeva Systems’ industry-specific focus gives it a significant leverage. The company recently introduced Veeva Nitro, a next-generation commercial data warehouse for the life sciences industry. Veeva Systems has also released its advanced Veeva Commercial Cloud offering and Veeva CRM Engage Webinar.

Veeva Systems’ unique solutions include Veeva Vault, Veeva CRM, Veeva Network and VeevaOpenData. Veeva Vault is the first cloud-based content management system built specifically for the life sciences. Veeva CRM is a customer relationship management platform that offers cloud-based solutions to reach customers on any channel.

Another new cloud application of the company is Veeva Vault Training, designed to simplify role-based training across life sciences organizations and help quality teams remain audit-ready and compliant.

Other Key Picks

Other top-ranked stocks in the broader medical space are Quidel Corporation (NASDAQ:QDEL) , STAAR Surgical Company (NASDAQ:STAA) and Illumina, Inc. (NASDAQ:ILMN) .

Quidel Corporation has long-term expected earnings growth rate of 25% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

With a Zacks Rank #1, STAAR Surgical delivered average four-quarter positive earnings surprise of 400%.

Illumina’s long-term earnings growth rate is projected at 23.4%. The stock carries a Zacks Rank of 2 (Buy).

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