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TCS Named a Leader in Veeva Services by Everest Group

Posted On: 2021-08-04 12:18:24 (Time Zone: UTC)

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader in the Everest Group Peak Matrix® for Veeva Services1.

According to the report, TCS' Veeva practice has a well-defined vision and future roadmap that strongly aligns with Veeva's expectations from service partners, positioning it for further growth in coming years. It went on to say that TCS has one of the largest portfolios of custom solutions and accelerators to expedite implementation time, ease data migration complexities, and guide change management for seamless adoption by clients. Highlighted as a key strength is TCS' investment in certifying its Veeva talent pool - with focus on both Vault and Commercial cloud products.

"We leverage our Business 4.0™ thought leadership framework, expertise in next-gen technologies and comprehensive portfolio of services and solutions in the commercial and R&D domains around Veeva products, to help life sciences customers speed-up and scale drug development and clinical trials, as well as ensure superior business outcomes," said Vikram Karakoti, Business Unit Head, Life Sciences - North America, TCS. "This leadership position is a reflection of our vision, capability, innovation efforts and the resultant market success."

TCS collaborates with leading life sciences companies to enable their digital transformation journey with a full set of advisory and digital transformation services and solutions including data and analytics, predictive and prescriptive analytics, advanced cloud-based platform solutions, genomics research, cognitive search, and digital labs. Early investments in research and innovation around key trends and intellectual property, have helped TCS gain significant scale and depth across the life sciences value chain.

TCS is a certified Veeva Service Partner for all the Veeva Systems products and offers consulting, data migration, integration, implementation, and application support services. TCS has developed a comprehensive portfolio of solutions, tools, and frameworks to accelerate the adoption of Veeva Systems.

TCS' Pharma Industry Reference Architecture in commercial and R&D domain, includes integration and application architecture for business functions and applications that are being supported by Veeva modules. TCS' proven and validated data migration tool help customers migrate documents and metadata from legacy ECM products to Veeva Vault. TCS offers a chatbot solution for the Veeva CRM application that enables self-help for medical sales representatives to perform various activities such as functional enquiries, user management, and incident reports. The administration tool for Veeva CRM and Veeva Vault helps create /modify user profiles in Veeva CRM and Veeva Vault automatically.

TCS has established a dedicated Veeva Centre of Excellence to focus on solutioning, competency development, alliance connect, sales and account support, and delivery assurance for Veeva products. Additionally, TCS' life sciences innovation lab drives various new solutions to accelerate the deployment of new business capabilities around the Veeva product suites.

"Veeva has seen massive growth since 2017 and is expected to triple its annual revenues in coming five years. With its expansion within the life sciences industry and across newer industries such as consumer goods, Veeva-specific IT services is estimated to be around US$2 billion market opportunity by 2025," said Chunky Satija, Practice Director, Everest Group. "Over the years, TCS has built a well-established Veeva practice with a vision that strongly aligns with Veeva's expectations from its service partners. Clients' appreciation of the value TCS brings with its large, certified talent pool and portfolio of accelerators to expedite implementation time and guide large-scale change management has contributed to its positioning as a Leader on Everest Group's Veeva Services PEAK Matrix®."

Shares of Tata Consultancy Services Ltd. was last trading in BSE at Rs. 3273.45 as compared to the previous close of Rs. 3284.15. The total number of shares traded during the day was 126809 in over 7170 trades.

The stock hit an intraday high of Rs. 3305 and intraday low of 3261.65. The net turnover during the day was Rs. 414917574.

1 Veeva Services Peak Matrix® Assessment 2021, Nitish Mittal, Chunky Satija, Sonal Singh, Everest Group, March 31, 2021

Source: Equity Bulls

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