CRM: Creating a plan for the unknown
Commercial
The recent developments in the life science CRM landscape, particularly with the announcements by Veeva, Salesforce, and IQVIA, have impacted more than 1000 life science companies [1] [2] [3] who currently use CRM platforms. Life science companies using Veeva CRM and IQVIA OCE will need to change CRM platforms before the end of 2028 and 2029, respectively.
Assuming 1,000 life science companies are impacted by these necessitated CRM changes, and each CRM transition project lasts on average one year, this equates to around 1,000 years of project work that needs to be completed by the end of 2029 and a staggering 2,500 full-time equivalents (FTEs) needed to support this work (more details below).
While 2029 may seem distant, it is critical for life science companies to realize that time is not on their side. In addition, those life science companies with market events, such as launches (or those who need to migrate prior to 2029) have additional time constraints. To meet the deadline, companies must start backward planning now.
The entire industry is facing a condensed timeframe, which will place immense pressure on the already limited pool of skilled resources. Those life science companies who act early will have the advantage of securing these scarce resources, increasing their chances of a smooth transition and a successful CRM implementation.
Advanced planning is essential, and 2025 is a critical year to ensure you are prepared.
Don’t wait until it’s too late
Life science companies need to act now to stay ahead of the curve and that means securing the right resources.
The urgency cannot be overstated. A well-executed CRM transition is not just about meeting a deadline; it is about future-proofing your business and maintaining a competitive advantage in an evolving landscape.
A successful CRM implementation starts with high-quality and timely CRM planning.
How to initiate CRM planning
Companies need to act in 2025 to ensure a smooth transition:
Begin developing a migration strategy
Initiate discussions with CRM vendors
Secure skilled resources
This may seem like a standard approach, but not so in the current environment. There is an unprecedented need for more critical advanced planning for your desired timeline and business needs, as well as the skilled resources to support your successful CRM transition.
The resource crunch: why acting now is critical
Delaying the CRM transition process carries significant risks, particularly around resource availability to support many life science companies in a small window leading up to 2029.
Those who heed to call to urgency will be rewarded.
With a typical CRM project requiring 2-3 FTEs [4] [5], and larger projects needing more FTEs, we estimate that 2,500 FTEs will be required to support life science CRM migrations over the next five years.
If we spread this evenly, that means about 500 FTEs will be needed each year, and the pool of skilled resources is already limited.
BASE life science’s current pool of Veeva white belt certified FTEs can cover approximately 270 qualified resources, meeting only a fraction of the industry demand, and even our qualified resources cannot be fully allocated to only these types of projects.
Qualified, skilled resources are defined as consultants who hold technology certifications and have participated in at least three life science CRM projects. With these stringent qualifications, the pool of available talent is even smaller. The longer life science companies wait, the harder it will be to secure experienced professionals, leading to increased costs, longer project timelines, or lower-quality implementations.
This, in turn, can negatively impact HCP (Healthcare Professionals) engagement, resulting in customer dissatisfaction and potential revenue loss. This is obviously to be avoided at all costs, and planning now is the straightforward way to alleviate these concerns and best support your ongoing business goals.
Planning phases: How to approach the CRM transition
Imagine you start planning now and follow the standard process. Based on our years working across life science implementations, the timeline would look like the one below. Given the complexity of the transition, companies should aim to go live with the new Generation CRM no later than mid-2029, leaving at least six months for hypercare.
This would already be risky for some of the life science companies since some of the systems may not be supported entirely in 2029.
Nevertheless, the following breakdown summarizes the plan for a company accepting the risks of a mid-2029 go-live:
2024
In 2024, information gathering started as life science customers on Veeva CRM started to plan for the Veeva CRM/ Salesforce separation. Similarly, IQVIA OCE CRM customers have a new partner to take into consideration, Salesforce.
2025
Much more is known as we enter 2025. Veeva CRM customers can choose Veeva Vault, and more than 30 companies have already committed to Vault CRM. Salesforce will be offering the Life Science Cloud CRM. Planning your CRM needs for today and the next ten years is essential.
In 2025, companies will need to secure and contract with a business partner who understands the involved technologies: technology implementation without business support is a critical mistake to be avoided. The right business and technology partner can help you to create and execute a validated CRM strategy and options assessment that moves the business forward.
2026
The detailed CRM analysis and evaluation (contracted with a vetted business partner in 2025) should kick off no later than Feb 2026 and will last 6-8 months. The CRM evaluation should cover the entire CRM ecosystem, including HCP data integration, not just isolated parts of the system. To align with annual budgeting cycles, life science companies need to secure CRM budget approvals by Fall 2026; these budgets will be informed by the CRM analysis and evaluation.
The contracting phase can take 3-4 months due to the diligence required in this highly regulated industry. Contracts with your chosen CRM vendor should be finalized before the end of 2026 to allow ample time for the CRM implementation phase to commence by mid-2027.
2027-2028
The new CRM project work (implementation phase) will need to start by mid-2027. The actual implementation will be the most time-consuming phase, typically spanning 6-12-24 months, depending on company size & organizational complexity. Companies with complex integration requirements should expect the higher end of this range.
The skilled resource crunch, previously described, is at its most critical stage in advance of and during implementation. Early CRM adopters have likely booked and locked up the best skilled resources. Latecomers are vying for the same dwindling pool of skilled resources or even lower-skilled alternatives. Advanced planning (or an earlier CRM transition start altogether) is essential to secure skilled resources ahead of implementation, as this critical period includes not just technical configuration but also business analysis, integration, testing, and change management.
2029
Your new Vault CRM should be ready to go live by mid-2029, at the latest.
Prior to going live, companies need to secure skilled resources to support them for at least six months after going live, for stabilization and hypercare, particularly since life science companies tend to be conservative in adopting new technology. Again, this is where the resources crunch may be felt. Early adopters will have a good operational setup in place with great resources, while the other companies may be forced to leverage less skilled resources.
Proactive planning will help mitigate risks, improve the quality of the CRM transition,
and ensure that HCP engagement remains strong and effective throughout the process.
BASE life science has been supporting life science customers with business and technology consulting and data-driven solutions since 2015, and BASE life science is a certified Veeva migration partner. Reach out if we can help you get started.
Appendix
Notes on the estimations
The estimated number of life sciences companies using CRM systems was calculated as follows: IQVIA reports having 350 clients, while Veeva states it has 693 clients on its commercial cloud (though not all use Veeva’s CRM). Additionally, there are other (usually smaller) companies on the Force.com platform who may need to transition to a different CRM system.
If we assume IQVIA holds less than 20% of the market and Veeva has around 80%, then the total number of companies using CRM systems in life sciences could be closer to 2,000.
Project duration: The average time for a CRM project was estimated at about one year. Project lengths can vary widely—some shorter projects may last about 12 weeks, as estimated by Veeva, while others may extend for several years. This estimate only covers the technical work, so a 12-week technical phase could actually require around 20 weeks of effort. With a few multi-year projects, the overall average project time is likely well over one year.
References
[1] IQVIA Orchestrated Customer Engagement (OCE), (2023.01), https://www.iqvia.com/-/media/iqvia/pdfs/library/fact-sheets/commercial-technologies-orchestrated-customer-engagement.pdf., (retrieved 2024,10,30).
[2] Veeva: A Winning Platform Strategy in Life Sciences, (2024, 07,23), https://intrinsicinvesting.com/2024/07/23/veeva-a-winning-platform-strategy-in-life-sciences/, (retrieved 2024,10,30).
[3] A Leader in Cloud-Based Software for the Global Life Sciences Industry, https://ir.veeva.com/investors/news-and-events/latest-news/press-release-details/2024/Veeva-Announces-Fourth-Quarter-and-Fiscal-Year-2024-Results/default.aspx, (retrieved 2024,10,30).
[4] Altynpara, Evgeniy, How Much Does It Cost To Implement A CRM System In A Simple Estimate, (2023,08,23), https://www.cleveroad.com/blog/crm-implementation-cost/, (retrieved 2024,10,30).
[5] CRM Implementations Cost An Estimated $4.5 Billion Annually, New Analysis Says, (2023.1221), https://pipeline.zoominfo.com/marketing/cost-of-crm-implementation, (retrieved 2024,10,30).
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