One analyst thinks Salesforce won't be able to compete well with Veeva in life sciences after their broad-based agreement that bans competition ends in 2025.
, will transition its customer-relationship management software to its own Vault platform. The plan is to provide tools to help clients move over, although they have until September 2030 thanks to a five-year wind-down period specified in the agreement.
Veeva will demonstrate its software using Vault at its Commercial Summit conference in Boston in May, Paul Shawah, Veeva's executive vice president of strategy, said on a Wednesday call with analysts. Jaluria said he doesn't think Salesforce will be able to compete effectively against Veeva after the agreement ends in 2025. Salesforce's push toward increasing profits, which came about as activist investors asked questions about Salesforce's balance of growth and margins, might not help, he said. "But even before that, Salesforce hasn't shown us their ability to develop industry cloud organically.
Under Benioff, Salesforce has fueled a lot of its growth through acquisitions, and there was once a time when Gassner could have ended up back at Salesforce. A Salesforce presentation thatToday that looks unlikely. Gassner is directing Veeva to move off Salesforce, and on Wednesday Benioff said that the Salesforce board has disbanded its committee on mergers and acquisitions.
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