It’s been a prolific year for Verix! If I had to summarize 2013 with a single word, it would have to be ‘more’. We end this year with more analytical applications, more markets served, higher satisfaction among more users, and much more positive feedback that make all the hard work worthwhile. As 2014 kicks off, I’d like to share some highlights from the past year.
Life Sciences is our strongest and most established market and we have enjoyed considerable growth this year in both the Pharmaceutical and Medical Device industries. Our analytical applications, tailored to optimize day-to-day processes of commercial operations, are gaining popularity with leading Life Sciences companies. We are continuously measuring utilization of our solution as a benchmark to value for customers, and are proud to find utilization as high as 80% – unprecedented in the Business Intelligence market.
Our most popular new analytical application for Life Sciences is the “New Product Launch”, which encompasses all aspects of commercial operations. The application analyzes Sales, Marketing, Managed Markets, Procurement, Financials, and Brand as well as interdependencies between them. Bayer U.S. Pharma kicked it off, with the successful launch of two high profile oncology drugs. The company’s acclaim for our application, and how it simplified their launch was truly heartwarming. Before Verix, Bayer used 11 different reporting platforms, producing hundreds of fragmented, often conflicting reports, which made it hard to get effective results. Verix delivers clear actionable insights based on a single version of the truth across commercial operations. The results speak for themselves – Bayer saved over $2.5M with the launch and decided to make Verix their platform of choice for commercial operations analytics.
In February we announced our strategic partnership with Procter and Gamble. Verix is developing analytical applications customized for CPG commercial operations. Filippo Passerini, P&G’s President of Global Business Services & CIO, praised Verix for giving P&G “a significant business edge” with substantial improvement in productivity and speed of decision making.
My favorite application for Consumer Goods is “out of stock”, which gives early warnings for nearly out of stock items in thousands of retail stores (over 4000 Wal-Mart stores) across the country. The application crunches as many as 4 billion records per day in less than 3 hours!
We’re looking forward to 2014 and plan to launch even more analytical applications for both Life Sciences and Consumer Goods markets. In early 2014 we will address our customers’ request and release a Mobile suite of applications, designed for quick, focused, analytics on the road. More exciting applications are in the pipeline and we can’t wait to share them with you.