Veeva prices Vault AI at 10% of a subscription with no use limit

At a summit in Boston, Veeva said that Vault AI, its chat and agent layer, will cost 10% of a Vault subscription. The price has no limit on use. The price is 5% in the first year. Veeva also showed Falcon agents, which do work such as clinical intake and storage of documents. Veeva gave no test results for them.

How it works

Vault AI helps users do the work. Its queries operate with the permissions of the user, and it cannot show data that the user cannot see. Falcon agents do the work, for example:

• clinical intake and storage of trial documents
• the standard part of site monitoring
• first triage of health authority questions
• drafts of clinical study reports

The numbers

Veeva says that 750,000 persons use Vault on a usual workday, and about 250,000 reports operate each day. IQVIA will use four Veeva applications in seven months. Falcon is in use for less than one year.

What is not known

Brian ODwyer of IQVIA says that the time from clinic entry to approval increased from eight to ten years. It is not known if agents can get those years back.

Insight: A flat price makes standard work the real lock

A flat fee puts the cost to operate models on Veeva. Its agents also cannot keep documents in 50 systems with different setups. IQVIA will put each new study on Veeva from the third quarter of next year. This reads as a race to set the standard: the company with the first format that agents use can control the work. Standard work can be hard to change.