New Veeva Claims Provides Consumer Goods, Chemicals, and Cosmetics Companies Full Visibility Into the Claims Process to Reduce Risk and Speed Claims to Market
Veeva Systems introduced Veeva Claims, a new cloud application to manage marketing and product claims in industries such as consumer goods, chemicals, and cosmetics. Veeva Claims gives organizations a single unified application to manage the end-to-end claims process from creation through substantiation, approvals, and usage in marketing assets. Now legal, regulatory, marketing, and R&D teams can have a complete, up-to-date view of all claims and related assets to maintain compliance and get claims to market faster.
Veeva today introduced Veeva Claims, a new cloud application to manage marketing and product claims in industries such as consumer goods, chemicals, and cosmetics. Veeva Claims provides a single unified application to manage the end-to-end claims process
Siloed systems and manual processes are typically used to manage the claims process, including spreadsheets to record claims and email to route them through approval. This makes it difficult to find approved claims, locate substantiation, and identify marketing assets using a specific claim.
According to a new study by Hanover Research, Product Claims Management – the Risk and Opportunity Cost of the Status Quo, product claims management can be a challenging and costly process. “Our research shows that almost half of companies experience significant damage to their brands from a claim challenge,” said Patrick Rooney, director of research at Hanover. “Nearly every company we surveyed is looking for a solution to address this problem.”
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Veeva Claims eliminates manual handoffs and improves collaboration in managing claims. Teams can now work within a common cloud application for developing, approving, and tracking permitted usage of all product and marketing claims across countries, channels, and assets.
A single dashboard provides complete visibility into the claims process with clear next steps to drive more efficient reviews and approvals. With a detailed audit trail, organizations can more effectively manage and track claims throughout their lifecycle. One-click traceability to substantiation and usage in marketing assets enables organizations to respond quickly to challenges of in-market claims.
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“Veeva Claims will fundamentally change the claims process to be more agile so companies can capture new opportunities and respond to market changes faster,” said Frank Defesche, SVP and GM at Veeva. “Organizations can finally have a complete picture for all claims with clear audit trails and traceability to reduce their compliance risk and speed the process of getting claims to market.”
The upcoming report, Product Claims Management – the Risk and Opportunity Cost of the Status Quo, explores the difficulties of product claims management and the resulting legal and labor impacts.