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Veeva Systems(VEEV -0.45%)

Q2 2025 Earnings Call

Aug 28, 2024, 5:00 p.m. ET

Veeva Systems(VEEV -0.45%)

2025 财年第二季度财报电话会议

2024年8月28日，美东时间下午 5:00

内容:

准备声明
问题与回答
与会者

Prepared Remarks:

准备声明:

Operator

操作员

Ladies and gentlemen, good afternoon. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the Veeva Systems fiscal 2025 second quarter results conference call. All lines have been placed on mute to prevent any background noise, and after the speakers' remarks, there will be a question-and-answer session.

女士们，先生们，下午好。我是 Krista，今天将担任您的电话会议操作员。此时，我想欢迎大家参加 Veeva Systems 2025 财年第二季度业绩电话会议。为防止任何背景噪音，所有线路均已静音，演讲人发表讲话后，将进行问题与回答环节。

[Operator instructions] Thank you. I will now turn the call over to Gunnar Hansen, director of investor relations. You may begin.

[操作员指示] 谢谢。现在我将把电话交给投资者关系总监 Gunnar Hansen。您可以开始了。

Gunnar Hansen -- Senior Director, Investor Relations

Gunnar Hansen -- 高级董事，投资者关系

Good afternoon, and welcome to Veeva's fiscal 2025 second-quarter earnings conference call for the quarter ended July 31, 2024. As a reminder, we posted prepared remarks on Veeva's Investor Relations website just after 1 p.m. Pacific today. We hope you have had a chance to read them before the call.

下午好，欢迎参加 Veeva 截至2024年7月31日的第二季度财报电话会议。提醒一下，我们在太平洋时间下午 1 点后在 Veeva 投资者关系网站上发布了准备声明。希望您在电话会议前有机会阅读。

Today's call will be used primarily for Q&A. With me today for Q&A are Peter Gassner, our chief executive officer; Paul Shawah, EVP, Strategy; and Tim Cabral, our interim chief financial officer. During this call, we may make forward-looking statements regarding trends, our strategies, and the anticipated performance of the business, including guidance regarding future financial results. These forward-looking statements will be based on our current views and expectations and are subject to various risks and uncertainties.

今天的电话会议将主要用于问答环节。今天与我一起参加问答环节的有首席执行官 Peter Gassner，战略执行副总裁 Paul Shawah 和临时首席财务官 Tim Cabral。在本次电话会议中，我们可能就趋势、战略以及业务预期表述前瞻性声明，包括关于未来财务业绩的指引。这些前瞻性声明将基于我们当前的观点和期望，并受到各种风险和不确定性的影响。

Our actual results may differ materially. Please refer to the risks listed in our earnings release and the risk factors included in our most recent filing on Form 10-Q. Forward-looking statements made during the call are being made as of today, August 28, 2024, based on the facts available to us today. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information.

我们的实际结果可能会有重大差异。请参阅我们的财报中列出的风险以及我们最近在 10-Q 表格中包含的风险因素。在通话中做出的前瞻性声明是基于今天2024年8月28日的事实。如果在今天之后重播或查看本通话，通话中呈现的信息可能不包含当前或准确的信息。

Veeva disclaims any obligation to update or revise any forward-looking statements. We may discuss our guidance on today's call, but we will not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum. On the call, we may discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP measures can be found in today's earnings release and in the supplemental investor presentation, both of which are available on our website.

Veeva 不承担更新或修订任何前瞻性声明的义务。我们可能会在今天的通话中讨论我们的指引，但除非在公开论坛上这样做，否则我们不会提供有关本季度业绩的进一步指引或更新。在通话中，我们可能会讨论一些我们认为有助于理解我们财务业绩的非 GAAP 指标。可在今天的财报和补充投资者展示中找到与可比 GAAP 措施的对应关系，这两者都可在我们的网站上找到。

With that, thank you for joining us, and I'll turn the call over to Peter.

谢谢大家的参与，现在我将把电话交给 Peter。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thank you, Gunnar, and welcome, everyone, to the call. Q2 was a strong quarter with results above our guidance. Total revenue in the quarter was $676 million with non-GAAP operating income of $280 million. Thanks to the team, we advanced in all major areas with key product expansions and strategic customer wins.

谢谢，Gunnar，欢迎大家参加电话会议。第二季度是一个强劲的季度，业绩超出我们的指引。本季度总收入为 6.76 亿美元，非 GAAP 运营收入为 2.8 亿美元。感谢团队，我们在所有主要领域取得进展，实现了关键产品扩展和战略客户赢得。

This included an important new release of Veeva Site Connect to streamline clinical trials and the first release of Service Center in the CRM suite. We have a clear product strategy and are executing well on our vision. We'll now open up the call to your questions.

这包括重要的 Veeva Site Connect 新版本发布，以简化临床试验，以及 CRM 套件中 Service Center 的首次发布。我们有明确的产品战略，并且在实现我们的愿景方面表现出色。现在我们将开放电话会议让大家提问。

Questions & Answers:

问题与回答:

Operator

操作员

[Operator instructions] We ask that you limit yourself to one question and a single follow-up. Your first question comes from the line of Joe Vruwink with Robert Baird. Please go ahead.

[操作员指示] 我们要求您限制提问一次，并进行一次追问。您的第一个问题来自 Robert Baird 的 Joe Vruwink。请发言。

Joe Vruwink -- Robert W. Baird and Company -- Analyst

Joe Vruwink -- 罗伯特·W·贝尔德公司 -- 分析师

Great. Hi, everyone. I think it's interesting, the cadence of core CRM wins has now picked up for two quarters. Of course, the last quarter was all Vault.

很好。大家好。我认为核心 CRM 赢得的节奏现在已经连续两个季度加快。当然，上个季度完全是 Vault。

And looking backwards, I think you're actually winning more CRM on a quarterly basis than you did even before the decision was made to migrate CRM to Vault. So, clearly, it seems customers are comfortable making this commitment. I guess I wanted to ask, just other than comfort related to the set of applications because it's Veeva and this is a proven solution, how much might be the product road map when things like Service Center and marketing automation starting to register in decisions? And then related to that, when you think about the vision a customer might have around adopting a full suite across the three areas, do you think that ends up being more enticing to an SMB customer or maybe an enterprise customer for Veeva?

回顾过去，我认为您现在每季度赢得的 CRM 比迁移 CRM 到 Vault 之前甚至更多。显然，客户对做出这一承诺感到满意。我想问的是，除了与应用程序集相关的舒适感，因为这是 Veeva 并且这是一个经过验证的解决方案，产品路线图可能会对决策产生多大影响？此外，当您考虑客户在采用跨三个领域的完整套件时可能拥有的愿景时，您认为这对中小企业客户或企业客户更具吸引力？

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商业战略执行副总裁

Hey, Joe, this is Paul. Thanks for the question. You're right. We had another very strong quarter.

嘿，Joe，我是 Paul。感谢您的提问。您说得对，我们又度过了一个非常强劲的季度。

We -- our Vault CRM became generally available in April. It's exclusively what we're selling into the market. In the quarter, we had 14 wins. I think we're winning virtually every CRM deal.

我们 -- 我们的 Vault CRM 在 4 月份正式推出。这是我们专门向市场销售的产品。在本季度，我们赢得了 14 个项目。我认为我们几乎赢得了每一个 CRM 交易。

You certainly never know if you're winning all of them, but it certainly feels like we're winning all of them. We know we're not losing any deals to competitors that we're competing in. So, we feel really good about our execution there. Your question about the broader vision, Service Center, Campaign Manager, it's absolutely playing a part of the -- it's a continued part of the overall vision and direction.

当然，您永远不知道是否赢得了所有交易，但我们确实感觉自己赢得了所有交易。我们知道我们没有输给我们正在竞争的竞争对手的任何交易。所以，我们对我们在那里的执行感到非常满意。关于更广泛愿景的问题，Service Center，Campaign Manager，它绝对是整体愿景和方向的持续部分。

And I think those early customers, yes, they want something that they know is going to work and deliver for them today. This is often their most important moment as a company. They're preparing for their launch and actually launching their medicine. But they also want something that they can grow with us.

我认为那些早期客户，是的，他们希望得到一些他们知道会在今天为他们工作并为他们提供的东西。这通常是他们作为公司最重要的时刻。他们正在为他们的发布做准备并实际发布他们的药物。但他们也希望得到一些可以与我们一起发展的东西。

And Service Center and Campaign Manager, we're doing that in a very different way, a very simple technology stack, a more efficient way of bringing sales and marketing and medical and service all together on the same platform. So, that vision is certainly playing a big component of that. And then we're executing well. We're executing well from a product perspective and from a migration standpoint.

服务中心和活动经理，我们以一种非常不同的方式进行，采用了一种非常简单的技术堆栈，更高效地将销售、营销、医疗和服务整合到同一平台上。因此，这一愿景肯定在其中起到了重要作用。而且我们的执行效果很好。无论是从产品角度还是从迁移角度来看，我们都执行得很好。

So, customers are taking notice of that. So, yes, I'm pleased with our progress.

客户们注意到了这一点。所以，是的，我对我们的进展感到满意。

Joe Vruwink -- Robert W. Baird and Company -- Analyst

Joe Vruwink -- 罗伯特·W·贝尔德公司 -- 分析师

OK. That's great to hear. And then I wanted to ask, just since the R&D Summit is coming up, customers here have obviously been studying their path forward with AI at this quarter, even made good progress, both with core system wins. But you also mentioned adoption around the newer bulk data APIs.

好的。听到这个消息很棒。我想问一下，由于研发峰会即将到来，这一季度客户显然一直在研究他们在人工智能方面的前进道路，甚至取得了良好的进展，包括核心系统的胜利。但您也提到了围绕新的大数据 API 的采用。

I guess does the summit maybe serve as a forum where you would anticipate more clarity coming out, just in terms of how customers are approaching R&D? Or maybe could this actually be an event where because Veeva can address questions and help educate, and obviously, customers will speak with one another, maybe it provides just more visibility into decisions at year-end and your expectations into fiscal '26 in the R&D?

我想知道峰会是否可能作为一个论坛，您是否期待会有更多明确的信息出现，就客户如何对待研发而言？或者这实际上可能是一个事件，因为 Veeva 可以解答问题、帮助教育，显然，客户们将互相交流，也许这会提供更多关于年底决策以及您对财年'26 年在研发方面的预期的可见性？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Yeah. Joe, I'll take that one. This is Peter. The visual I always have for our summit is like a boost.

是的。Joe，我来回答这个问题。这是 Peter。我对我们的峰会总是有一个类似于给你提速的视觉。

You're on a bicycle, and your dad gives you a boost. They push you forward and go faster. It's like that because our customers talk to our customers and us, and they learn. And we talk to our customers, and we learn, and we refine.

就像你骑自行车，你爸爸给你一个加速。他们推动你向前，让你更快。就像这样，因为我们的客户与我们的客户交谈，我们学习。我们与客户交谈，我们学习，我们不断完善。

So, I don't -- I think that's the way you need to think about that. Now, that relates to all types of things, what order to do the Veeva applications, how best to do the Veeva applications, what new Veeva applications, how to leverage AI with the Veeva data. So, nothing special about this R&D Summit. It's just that it's -- it will be probably more impactful than it ever has been because we're bigger than we have been.

所以，我认为你需要这样考虑。现在，这涉及到各种事情，如何安排 Veeva 应用的顺序，如何最好地使用 Veeva 应用，什么新的 Veeva 应用，如何利用 Veeva 数据的人工智能。因此，这次研发峰会并没有什么特别之处。只是因为我们比以往任何时候都更大，所以它可能会比以往任何时候都更有影响力。

Operator

运营商

Your next question comes from the line of Saket Kalia with Barclays. Please go ahead.

下一个问题来自巴克莱的 Saket Kalia。请发言。

Saket Kalia -- Analyst

Saket Kalia -- 分析师

OK. Great. Hey, guys. Thanks for taking my questions here.

好的。嘿，伙计们。感谢您回答我的问题。

And nice job on the quarter. Peter, maybe just to start with you. Can we just talk a little bit about the latest with Vault CDMS? Maybe touch on sort of how some of those ramps are going with some of the top 20 pharmas that have adopted the tool, and maybe we could touch on sort of how the pipeline looks for continued share gains in that market.

季度表现不错。Peter，也许我们可以先谈谈 Vault CDMS 的最新情况。也许可以谈谈一下那些已经采用该工具的前 20 家制药公司的情况，也许我们可以谈谈在继续在这一市场上获得份额增长的前景。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Great question. The ramps are going well. The adoption, that's what we really focus on. When we sell a large top 20 on the CDMS, they have a fixed ramp schedule, a fixed fee schedule that goes based on time, not based on how fast they actually adopt.

很好的问题。采用情况进展顺利。这正是我们真正关注的。当我们向一家大型前 20 家公司销售 CDMS 时，他们有一个固定的采用进度表，一个基于时间而不是基于实际采用速度的固定费用进度表。

So, when we arrange that, we always want them to get a full adoption even before they get to their full financial ramp. That's what we feel is fair and good. And it's a win for the customer, and we're in it for the long run anyway. We're not really in it for the short run.

因此，当我们安排这一点时，我们总是希望他们在达到完全财务增长之前就能完全采用。这是我们认为公平和良好的。这对客户来说是一个胜利，而我们始终着眼于长远。我们真的不是为了短期利益。

So, adoption is good. I would say value realization is quite good. I think better than expected in a couple of areas. The site experience is good.

因此，采用情况良好。我想说的是，价值实现相当不错。我认为在一些领域的表现比预期好。网站体验很好。

No negative feedback from the sites. In fact, quite positive feedback on the user interface of the sites using our system. Certainly, for the sponsors, feedback, very good in terms of building studies faster, less custom programming, less errors. And then in the data cleaning, significant cost savings in the data cleaning when people are using our CDB product, our Clinical Database product, in conjunction with our EDC.

网站没有负面反馈。事实上，使用我们系统的网站用户界面得到了相当积极的反馈。对于赞助商来说，在更快地构建研究、减少定制编程、减少错误方面的反馈非常好。然后在数据清洗方面，当人们使用我们的 CDB 产品、我们的临床数据库产品与我们的 EDC 一起使用时，数据清洗方面有显著的成本节约。

And that's something where most of our large customers are using those products together. So, they're actually able to reduce manual work through the data science capabilities in our CDB product. They're finding data anomalies with our CDB product automatically, sending that query to the site, the site might be responding. And CDB is closing that out automatically rather than human intervention there.

这是大多数大客户一起使用这些产品的情况。因此，他们实际上能够通过我们 CDB 产品的数据科学能力减少手动工作。他们发现我们的 CDB 产品自动发现数据异常，将该查询发送给网站，网站可能会回复。CDB 会自动关闭这个问题，而不需要人为干预。

So, that's going quite well. I think we will continue to gain market share. Our pipeline in the top 20 in enterprises is healthy, very healthy. There's a number of companies talking with us.

因此，情况进展顺利。我认为我们将继续获得市场份额。我们在前 20 家企业中的潜在客户非常健康。有许多公司正在与我们交谈。

You never know exactly when they're going to make a decision because it depends on their business priorities and what else they have going on. They only have so much strategic they can make -- strategic change they can make all at once. I would say the area where we would like to make more progress is in clinical research organizations. I think there, we will make progress.

您永远不知道他们何时会做出决定，因为这取决于他们的业务优先事项以及其他正在进行的工作。他们一次只能做出有限的战略变化。我想说我们希望在临床研究机构方面取得更多进展。

It's not yet to where we would like it, particularly in the large clinical research organizations, but we'll get there over time. I guess my last comment, I think we do have a structural advantage that people sometimes overlook when we have the clinical data management products like EDC and the clinical operations products like CTMS and eTMF. That means that Veeva can take care of that intricate integration. And believe me, no customers really want to do that.

尤其是在大型临床研究机构方面，目前还没有达到我们希望的水平，但随着时间的推移，我们会实现目标。我想最后说的是，我认为我们有一个结构性优势，人们有时会忽视，当我们拥有像 EDC 这样的临床数据管理产品以及像 CTMS 和 eTMF 这样的临床运营产品时。

That's difficult work that's not value-adding, so things are going well in the EDC area.

这意味着 Veeva 可以处理那些复杂的集成工作。相信我，没有客户真的想要做那些工作。

Saket Kalia -- Analyst

Saket Kalia -- 分析师

That's great. That's great to hear. Tim, maybe for my follow-up, for you. Great to see the guide for commercial subscription revenue go up for this year.

这听起来很不错。很高兴听到。Tim，也许我可以跟进一下，对于您来说。看到商业订阅收入的指引今年上升很好。

Can you just maybe touch on sort of the size and growth profile of maybe what we've called the non-CRM part of commercial, right? Basically, those businesses that aren't tied to Veeva CRM. Does that make sense?

您能否简要谈一下也许我们所称的商业非 CRM 部分的规模和增长情况？基本上，那些与 Veeva CRM 无关的业务。这样说是否合适？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Yeah, it does. As we look at the overall commercial business, the CRM suite is probably 50% of that. And the non-CRM, Saket, using your words, are the other 50%. While the CRM suite part of the business, as you heard Paul answer the first question on the call, is doing quite well, you can imagine that the non-CRM is growing much faster than that core CRM suite.

是的，确实是这样。就整体商业业务而言，CRM 套件可能占其中的 50%。而非 CRM 部分，Saket，用你的话来说，占另外的 50%。正如你在通话中听到保罗回答第一个问题时所说的，业务的 CRM 套件部分表现相当不错，你可以想象非 CRM 部分的增长速度远远快于核心 CRM 套件。

So, very pleased with the performance of our commercial business and the continued progress that we're making, both from an innovation perspective and from a customer success perspective.

因此，我们对商业业务的表现感到非常满意，并对我们在创新和客户成功方面持续取得的进展感到满意。

Saket Kalia -- Analyst

Saket Kalia -- 分析师

Very helpful. Thanks, guys.

非常有帮助。谢谢，各位。

Operator

运营商

Your next question comes from the line of Ken Wong with Oppenheimer. Please go ahead.

下一个问题来自 Oppenheimer 的 Ken Wong。请发言。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析师

Great. Fantastic. The first question for you, Tim. I realize demand trends aren't always linear like we investors like.

很好。太棒了。对于你，Tim，我的第一个问题。我意识到需求趋势并不总是像我们投资者喜欢的那样线性。

Can you help us think through kind of what's going on with the R&D subscription line? You guys trimmed it a quarter ago. You bumped it back up. Like what changed relative to three months ago that gives you guys this renewed confidence?

你能帮助我们思考一下研发订阅线的情况吗？你们在一个季度前削减了它。现在又增加了。相对于三个月前有什么变化让你们对此有了新的信心？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Yeah. Hey, Ken. Look, we're 90 days later in the year. And as you can imagine, we're getting better visibility into the second-half pipeline.

是的。嘿，Ken。看，我们现在是在一年后的 90 天。正如你可以想象的，我们对下半年的销售情况有了更好的可见性。

What we talked about last quarter was some specific larger deals that we're moving to the right. And I think today, we continue to build really productive conversations with those customers. We continue to move through the sales cycles with those customers. And today, we just have better visibility than we did 90 days ago, Ken, which informed or was a good input to the modest increase in R&D subs revenue for the year.

我们上一季度谈到的是一些特定的较大交易，我们正在将它们推迟。我认为今天，我们继续与这些客户建立非常富有成效的对话。我们继续与这些客户进行销售周期。今天，我们比 90 天前有了更好的可见性，Ken，这为今年研发订阅收入的适度增加提供了信息或是一个良好的输入。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析师

Got it. Perfect. And then Peter or Paul, just circling back to the Vault CRM wins, again, 14 customers, that's a fantastic outcome. You also mentioned next release of Vault CRM in Q4 and then kind of the migration timeline.

明白了。完美。然后 Peter 或 Paul，再回到 Vault CRM 的成功案例，再次获得 14 个客户，这是一个了不起的成果。你们还提到了 Vault CRM 在第四季度的下一个版本以及迁移时间表。

Any reason to think that the next version of Vault CRM is like that will have an impact on deployment timeline? So, I guess in short, would a delay of that release somehow fall when your customers will start to migrate?

有没有理由认为 Vault CRM 的下一个版本会对部署时间表产生影响？简而言之，如果延迟发布，是否会影响客户开始迁移的时间？

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商业战略执行副总裁

Yeah. Hi, Ken. So, first, we're excited about the next release as it gets us to what we're calling the full functionality and then more. So, we'll have everything we've delivered in Veeva CRM plus some additional functionality that Vault CRM will have that's unique to Vault CRM like better content integration, like opportunity management built in.

是的。嗨，Ken。首先，我们对下一个版本感到兴奋，因为它让我们达到了我们所说的完整功能，甚至更多。因此，我们将拥有我们在 Veeva CRM 中提供的所有内容，以及 Vault CRM 将具有的一些独特于 Vault CRM 的附加功能，比如更好的内容集成，像内置的机会管理。

We're going to have a lot of new capabilities. And that distance between Vault CRM and Veeva CRM will continue to increase over time with that road map. Now, that will not have -- it should not have any impact on how customers think about their migration timeline. In fact, if anything, it will create a little bit of an opportunity for us as customers see all of the innovation happening on Vault CRM.

我们将拥有许多新功能。Vault CRM 和 Veeva CRM 之间的差距将随着路线图的推出而继续增加。现在，这不会 -- 不应该对客户如何考虑他们的迁移时间表产生任何影响。事实上，如果有的话，它将为我们创造一些机会，因为客户看到 Vault CRM 上的所有创新。

They'll want to get to Vault CRM faster. But I don't -- they're customers, they go through their own process, right? So they're very thoughtful about the timing that they want to go through for their migration. And we want them to do it in a timing that's appropriate for them, and adding innovation to Vault will certainly help with that.

他们会希望更快地转向 Vault CRM。但我认为 -- 他们是客户，他们会按照自己的流程进行。因此，他们非常慎重地考虑他们希望进行迁移的时间。我们希望他们按照适合他们的时间进行操作，并且为 Vault 添加创新肯定会有所帮助。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析师

Got it. Thanks for the insight, guys.

明白了。谢谢你们的见解。

Operator

运营商

Your next question comes from the line of Brian Peterson with Raymond James. Please go ahead.

下一个问题来自 Raymond James 的 Brian Peterson。请发言。

Brian Peterson -- Analyst

Brian Peterson -- 分析师

Thanks, guys, and congrats on the quarter. I'll keep it to one. So, obviously, good to see the Service Center launch. I know it's early days there, but I'm curious.

谢谢，各位，恭喜本季度。我只问一个问题。显然，看到服务中心的推出是件好事。我知道现在还处于早期阶段，但我很好奇。

How would you define success in that market? And as we're thinking about revenue contributions over the next few years, any way to kind of stack rank that contribution versus other things that you have in the hopper? Thanks, guys.

你如何定义在那个市场上的成功？在我们考虑未来几年的收入贡献时，有没有办法将这种贡献与你们手头的其他事情进行排名？谢谢，各位。

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商业战略执行副总裁

Yeah, Brian, thanks for the question there, and we're excited about that release. It's generally available now, something that we announced last year, and we executed on really, really well. I'm proud of the product team for delivering that with speed. This is a new product for us, just like we've announced Campaign Manager and Patient.

是的，Brian，感谢你的问题，我们对这个发布感到兴奋。它现在已经普遍可用，这是我们去年宣布的一件事，我们在速度上执行得非常好。我为产品团队能够交付这一点感到自豪。这对我们来说是一个新产品，就像我们宣布的 Campaign Manager 和 Patient 一样。

We're executing well across all three of those products. Campaign Manager's on track to be available at the end of the year. I guess the way I'd think about the sizing, I won't go product by product. But just if you kind of combine all of them, Service Center, Campaign Manager, and Patient CRM, those are the three new products that we've announced since Vault CRM.

我们在这三个产品上都表现出色。Campaign Manager 计划在年底推出。我不会逐个产品地考虑规模。但如果你将它们三个结合起来，服务中心、Campaign Manager 和 Patient CRM，这是我们自 Vault CRM 以来宣布的三个新产品。

I think of it as roughly the same size as core CRM, and that opportunity will certainly play out. Obviously, a customer has to be on Vault CRM to take advantage of those new products. But that opportunity will play out over time. And as customers move to Vault CRM, it will open up that opportunity for them to take advantage of our new innovation.

我认为它的规模大致与核心 CRM 相同，这个机会肯定会逐渐显现。显然，客户必须使用 Vault CRM 才能利用这些新产品。但随着客户转向 Vault CRM，他们将有机会利用我们的新创新。

Brian Peterson -- Analyst

Brian Peterson -- 分析师

All right. Thanks, Paul.

好的。谢谢，Paul。

Operator

运营商

Your next question comes from the line of Rishi Jaluria with RBC Capital Markets. Please go ahead.

下一个问题来自 RBC Capital Markets 的 Rishi Jaluria。请发言。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析师

Wonderful. Thanks so much for taking my questions. I've got two. First, Peter, in your prepared remarks, you talked about some of the early traction you're seeing with the AI Partner Program.

太棒了。非常感谢你们回答我的问题。我有两个问题。首先，Peter，在你的开场白中，你谈到了 AI 伙伴计划的一些早期进展。

Can you maybe talk about what are some of the use cases you've seen so far? And maybe philosophically, as you see some of these use cases get built out and maybe even start to see some early adoption, is there a point at which that may inform your own internal road map and you have the flexibility to maybe accelerate some plans in terms of integrating gen AI into the platform? And then I've got a quick follow-up.

你可以谈谈到目前为止你看到的一些用例是什么吗？从哲学上讲，当你看到一些这些用例被建立起来，甚至开始看到一些早期采用时，是否会有一个阶段，这可能会影响你自己的内部路线图，并且你是否有灵活性加快整合 gen AI 到平台的计划？然后我有一个简短的后续问题。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thanks, Rishi. The types of use cases in commercial often have to do with data science. So, things like next best action, dynamic targeting, pre-call planning, things like that. And then in R&D, they can be more things like document generation, generate a clinical study report, or doing specific medical coding, things like that.

谢谢，Rishi。商业领域的用例类型通常涉及数据科学。因此，诸如下一个最佳行动、动态定位、电话前规划等内容。而在研发方面，可能涉及更多文档生成、生成临床研究报告，或者进行特定的医学编码等内容。

So, those are the type of use cases. That's the thing. When you make an API like the Direct Data API, you don't know the innovation you're unleashing. And that's the whole point because the data can be consumed so fast and transactionally accurately, use cases that weren't practical before can become practical.

所以，这些就是使用案例的类型。这就是问题所在。当你像直接数据 API 这样制作 API 时，你并不知道你所释放的创新。这正是重点，因为数据可以被如此快速和事务性地准确消耗，以前不切实际的用例现在可以变得切实可行。

I mean, if I step back way back when to designing the first salesforce.com API, I knew it was going to unleash a lot of innovation, and you just don't know. It's not predictable, and that's the good thing. Now, in terms of us monitoring that and informing our own road map, I guess there may be some of that. But mostly, that type of innovation really comes from internally our own thinking with our customers.

我的意思是，如果我回顾设计 salesforce.com API 的初衷，我知道它将释放许多创新，而你根本不知道。这是不可预测的，而这正是好事。现在，就我们监控和通知我们自己的路线图而言，我想可能会有一些。但大多数情况下，这种创新实际上来自于我们与客户内部思考的结果。

We don't want to really disrupt our partners, especially when the partners are having customer success. If there's a major use case that we're very clear that customers need and for some reason, the ecosystem is not delivering customer success, yes, maybe we might step in there. But I would guess that what we would do would be more holistic, I guess, in some sense and not specifically something a partner would tackle because we're generally going to have more resources and more ability to sway our own road map than a partner would, and we want to be respectful to the ecosystem.

我们真的不想打扰我们的合作伙伴，尤其是当合作伙伴取得客户成功时。如果有一个我们非常清楚客户需要的重要用例，但由于某种原因生态系统无法实现客户成功，是的，也许我们会介入。但我猜想我们所做的可能更加全面，我想，在某种意义上并不是特别是合作伙伴会处理的事情，因为我们通常会拥有更多资源和更多影响我们自己路线图的能力，我们希望尊重生态系统。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析师

Yeah. Got it. Thanks. That's really helpful.

是的。明白了。谢谢。这真的很有帮助。

And then just in terms of some of the adjacencies in here, and we talked about Service Center or Campaign Manager I know comes out later this year. You've had some kind of signs of early traction and early interest. Maybe can you help us understand, number one, with some of the success you're seeing with Service Center early, is this generally a greenfield? Is this displacement? And how should we be thinking about the advantages that these products have even on a stand-alone basis relative to incumbent vendors? Thank you.

然后，就这里的一些相关性而言，我们谈到了服务中心或者活动管理器，我知道这些产品将在今年晚些时候推出。你已经看到了一些早期的迹象和早期的兴趣。也许你可以帮助我们理解，首先，关于服务中心早期取得的一些成功，这通常是一个全新的市场吗？这是替代吗？我们应该如何考虑这些产品相对于现有供应商的优势？谢谢。

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商业战略执行副总裁

Yeah. So, the requirement is to, of course, have Vault CRM and most of the customers that will -- that are starting with Vault CRM are net new customers. These are often pre-commercial or maybe they have one product in market. They're a smaller company, small or midsized companies.

是的。当然，要求是必须拥有 Vault CRM，大多数将开始使用 Vault CRM 的客户都是全新客户。这些通常是前商业化的，或者可能已经有一个产品在市场上。它们是一家较小的公司，中小型公司。

So, we expect those will be some of the first companies to go live with Service Center. They'll be some of our earliest adopters and some of the ones that take advantage over the next one to two years. But Service Center and Campaign Manager will be equally applicable and create value for the enterprise and large customers also. That will play out over time as we mature the product, but they fundamentally have a distinct advantage right from the beginning, which is that they're built into the CRM.

因此，我们预计这些将是最早启用服务中心的公司之一。他们将是我们最早的采用者之一，也是在接下来的一到两年内利用的公司之一。但服务中心和活动管理器同样适用，并为企业和大客户创造价值。随着我们不断完善产品，这将随着时间的推移逐渐显现，但从一开始它们基本上就具有明显的优势，即它们内置于 CRM 中。

So, everything that happens happens against a single customer record, which means that everybody in the team, it's about creating customer centricity. Everybody that touches that customer has the same exact view of the customer. They can share information. They share the same consent.

因此，发生的一切都发生在单个客户记录的基础上，这意味着团队中的每个人都是关于创造客户中心的。每个接触到该客户的人都有完全相同的客户视图。他们可以共享信息。他们共享相同的同意。

They share the same content. They share the same compliance rules. It eliminates a lot of handoffs of data and integrations and complexity. It's a much simpler technology stack.

他们共享相同的内容。他们共享相同的合规规则。这消除了许多数据传递、集成和复杂性。这是一个更简单的技术堆栈。

And it's much more valuable in terms of creating collaboration and customer-centricity. So, we expect to see the uptake of these products start in the SMB but certainly continue to be available to our larger customers. Now, you asked about use stand-alone. It's very likely that these will be used in conjunction with Vault CRM.

而且在创造协作和客户中心方面更有价值。因此，我们预计这些产品的接受程度将从中小型企业开始，但肯定会继续提供给我们的大客户。现在，你问到独立使用的情况。很可能这些产品将与 Vault CRM 一起使用。

It's unlikely that somebody does a stand-alone implementation of Service Center, for example, or Campaign Manager. These will be -- you can think of them as significant add-ons to a Vault CRM implementation.

不太可能有人单独实施服务中心，例如，或者活动管理器。这些将被视为 Vault CRM 实施的重要附加组件。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析师

Thank you.

谢谢。

Operator

运营商

Your next question comes from the line of Tyler Radke with Citi. Please go ahead.

下一个问题来自花旗的 Tyler Radke。请开始。

Tyler Radke -- Citi -- Analyst

Tyler Radke -- 花旗 -- 分析师

Yes. Thank you. Peter, it's encouraging to see the beaten raise here and particularly despite some services weakness. I'm wondering if you attribute some of the strength that you saw in new bookings as a function of the environment getting slightly better.

是的。谢谢。Peter，看到这里的提升令人鼓舞，尤其是尽管一些服务方面存在弱点。我想知道您是否将您在新预订中看到的一些强劲表现归因于环境略有好转。

I know last quarter, you called out headwinds, but I didn't see anything too much about the macro. And certainly, some of the results from your publicly traded peers in life sciences would indicate we're maybe moving off the bottom. So, just curious if you've seen any project acceleration, anything that makes you more optimistic about the overall environment by the end of the second half.

我知道上个季度，您提到了一些阻力，但我没有看到太多关于宏观经济方面的内容。而且生命科学领域一些上市同行的结果可能表明我们可能正在走出低谷。因此，我只是想知道您是否看到了任何项目加速，任何让您对下半年整体环境更加乐观的因素。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Tyler, this is Peter. I think the macro environment, from what I can see, is overall unchanged from 90 days ago. We still have the things going on that we have going on. So, the good performance is related to strong execution.

Tyler，我是 Peter。我认为从我所看到的情况来看，宏观环境与 90 天前基本没有变化。我们仍然有一些正在进行的事情。因此，良好的表现与强大的执行力有关。

We executed very well in the quarter. Also, we had maybe some good luck and no bad luck, and I think some quarters are like that. But overall, it's strong execution and no change in the macro environment that I can see.

我们在这个季度表现非常出色。此外，我们可能有一些好运气，没有遇到坏运气，我认为有些季度就是这样。但总体而言，这是强大的执行力，我看不到宏观环境发生任何变化。

Tyler Radke -- Citi -- Analyst

Tyler Radke -- 花旗 -- 分析师

Great. That's helpful. And maybe a follow-up for Tim. Just as I look at the moving pieces in the guide, can you just walk through the services piece? And then as I think about the guide mostly coming from commercial, is it the new CRM wins that you talked about in the quarter, was that the biggest driver of the commercial raise? Or was it other pieces of the portfolio that outperformed on the commercial side? Thank you.

好的。这很有帮助。也许对于 Tim 的一个后续问题。当我看着指南中的变动部分时，您能否简要介绍一下服务部分？然后当我考虑指南主要来自商业方面时，您在本季度提到的新 CRM 获胜是商业提升的最大驱动因素吗？还是组合中的其他部分表现优于商业方面？谢谢。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Yeah. So, on -- and Tyler, thanks for the question. On the services side, some of the same dynamics that we talked about in the last quarter, we saw a little bit here, meaning some delays in service projects from a timing perspective. The other thing that we saw, which was somewhat a new dynamic, so we don't know whether or not it will be a trend, is we had a few customers, one quite large, who instead of contracting with third-party SIs on our paper decided that they were going to go directly to the customer -- or directly to a third party.

是的。关于服务方面，一些与上季度讨论过的相同动态在这里也有所体现，意味着在时间角度上出现了一些服务项目的延迟。另一个我们观察到的新动态是，有一些客户（其中一个相当大），他们决定不再与第三方系统集成商签约，而是直接与客户或第三方合作。

So, while that is a reduction in our revenue opportunity, it certainly supports how we think about and what we're optimizing for in the service business, which is really customer success. And as we've talked about in the past, you'll see customers make these marginal decisions, and we don't try to fight against those. This is about customer success and enabling our customers to move on to the best innovation and really realize the customer success and value that our products deliver. So, I think those are some things that informed the services piece.

因此，虽然这减少了我们的收入机会，但这确实支持了我们对服务业务的思考和优化方向，即真正关注客户的成功。正如我们过去所讨论的，客户会做出这些边际决策，我们不会试图反对这些决定。这是关于客户的成功，让我们的客户能够迈向最佳创新，真正实现我们的产品所提供的客户成功和价值。所以，我认为这些是影响服务部分的一些因素。

On the commercial side, the outperformance in Q2 and I would say the increase in guide are one and the same. While we are seeing continued momentum and progress on the core CRM piece, Tyler, certainly, the outperformance and what informed the increase in guide was really the performance in our commercial content area and our Crossix area. So, those are the two that really drove the larger guide in the past -- in this cycle.

在商业方面，Q2 的表现超出预期，我想说增加的指引与此相同。尽管我们在核心 CRM 部分持续看到势头和进展，Tyler，当然，表现超出预期和增加指引的原因实际上是我们商业内容领域和 Crossix 领域的表现。因此，这两个领域真正推动了过去这一周期中更大的指引。

Tyler Radke -- Citi -- Analyst

Tyler Radke - 花旗银行 - 分析师

Thank you for the color. And, Tim, I hope we can continue to work together in the future. Thanks.

谢谢你的解释。Tim，希望我们能继续未来的合作。谢谢。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral - 临时首席财务官

Thanks, Tyler.

谢谢，Tyler。

Operator

运营商

Your next question comes from Stan Berenshteyn with Wells Fargo Securities. Please go ahead.

下一个问题来自 Wells Fargo Securities 的 Stan Berenshteyn。请继续。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富国证券 - 分析师

Hi. Thanks for taking my questions. So, in the prepared remarks, you called out a top 20 biopharma win in R&D, I think, standardizing on RIM and CTMS. Could you just walk us through how long did it take for this deal to work itself through the pipeline? And maybe just generally, how active is your pipeline with other large pharma potentially looking to standardize multiple Vault product suites? Thanks.

嗨。感谢您回答我的问题。在准备好的讲话中，您提到了一项前 20 大生物制药公司的研发胜利，我想，标准化了 RIM 和 CTMS。您能否详细介绍一下这笔交易在管道中花了多长时间？也许一般来说，您的管道中还有其他大型制药公司寻求将多个 Vault 产品套件标准化的活动有多活跃？谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner - 联合创始人兼首席执行官

Stan, I'll take that one. I think that opportunity with that customer, I remember working on it roughly six years ago, seven years ago, discussions, information, relationship building, that type of stuff. Then it became more active, yes, roughly a year ago was when it really went into, OK, we're really going to think about some things here, and let's share information. So, that's about the time frame of those type of things.

Stan，我来回答这个问题。我记得大约六年前，七年前，我就开始参与与该客户的讨论、信息交流和关系建立等工作。然后它变得更加活跃，是的，大约一年前，我们真的开始认真考虑一些事情，开始共享信息。所以，这就是这类事情的时间框架。

And if you look in the top 20, there are multiple opportunities. So, for example, in safety, very new product suite. In quality, many more products. In clinical, we've added products.

如果你看看前 20 名，有多个机会。例如，在安全方面，有非常新的产品套件。在质量方面，有更多产品。在临床方面，我们增加了产品。

In regulatory, some don't have our products yet. So, there's a number of those that are active and in various stages of activity every time. So, you think about top 20 and five different major opportunities, that's a total of 100 opportunities you might have in total, right? So, we certainly have more than 10 things active at any one given time. That's the way to think about it because there are multiple opportunities in these top 20s, not just one opportunity.

在监管方面，有些还没有使用我们的产品。因此，在各个阶段都有许多这样的机会。所以，你想想前 20 名和五个不同的主要机会，总共可能有 100 个机会，对吧？因此，我们在任何给定时间内肯定有超过 10 个活跃的事项。这是思考方式，因为在这些前 20 名中有多个机会，而不仅仅是一个机会。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富国证券 - 分析师

Helpful. Maybe just a quick follow-up on the Crossix strength that you're seeing. Anything to call out related to the election cycle? Or is there more reliance by clients on omnichannel marketing that maybe you're benefiting from? I'm just wondering if you're seeing anything incremental just seasonally from the election cycle. Thanks.

有帮助。关于您看到的 Crossix 实力，也许有什么与选举周期有关的值得注意的地方吗？或者客户是否更多地依赖全渠道营销，您可能正在受益于此？我只是想知道您是否从选举周期中看到任何额外的增量。谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner - 联合创始人兼首席执行官

No, I wouldn't say it's seasonal. I think it's just increasing market leadership. We've been delivering a quality product for a while now. And there were some entrants in and out there that -- and some of those didn't pan out so well in the ROI.

不，我不会说这是季节性的。我认为这只是增加的市场领导地位。我们已经提供了质量产品一段时间了。那里有一些进出的竞争对手，并且其中一些并没有取得很好的投资回报率。

So, I think there's customers coming back to a little bit of quality now. Also, we are having a -- we have two businesses in Crossix. One is the measurement and optimization of media campaigns. And the other one is digital audiences, where customers are using our audiences, our consumer audiences, for their marketing campaigns.

因此，我认为客户现在开始回归一些质量。此外，我们在 Crossix 有两个业务。一个是测量和优化媒体广告活动。另一个是数字受众，客户正在使用我们的受众，我们的消费者受众，进行他们的营销活动。

And the audience business is something we've put a little more focus on in the last year, and those results are paying off. So, it's not anything -- cyclical things really weren't the driver.

在过去一年中，我们对受众业务进行了更多关注，这些成果正在取得回报。因此，这并不是任何周期性因素真正的驱动因素。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富国证券 - 分析师

Awesome. Thank you.

太棒了。谢谢。

Operator

运营商

Your next question comes from Brent Bracelin with Piper Sandler. Please go ahead.

下一个问题来自 Piper Sandler 的 Brent Bracelin。请继续。

Brent Bracelin -- Analyst

Brent Bracelin - 分析师

Good afternoon. One question on top 20 deal activity and a follow-up on margins. Peter, I get the stronger execution and a little luck this quarter helping you. But just curious, what's driving the top 20 wins? It looks like you got some in safety, quality, Link Key People, R&D, it feels like a bit of a change from last quarter.

下午好。关于前 20 名交易活动的一个问题，以及利润率的跟进。Peter，我明白这一季度更强的执行力和一点运气帮助了您。但我只是好奇，是什么推动了前 20 名的胜利？看起来您在安全、质量、Link Key People 和研发方面都有所收获，这似乎与上季度有所不同。

And just curious if it's vendor consolidation that's resonating out there. Any sort of additional color you can point to why the deals closed this quarter would be super helpful. And then a quick follow-up for Tim.

只是好奇是否是供应商整合在市场上产生共鸣。您能指出为什么这些交易在本季度关闭的额外细节将非常有帮助。然后是一个快速的跟进问题给 Tim。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner - 联合创始人兼首席执行官

Brent, I would say it's just timing. There was no other reason than that, just timing. Because if you step back, what is Veeva doing, we're really in the Development Cloud area specifically, and we're building a very durable business there. We have a structural advantage where we have all these products in the different areas that sit together and have had a high degree of customer success and customers that are actually getting lots of ROIs out of these products.

Brent，我会说这只是时间问题。除此之外没有其他原因，只是时间。因为如果你退后一步看，Veeva 正在做什么，我们真的是在开发云领域，特别是在那里建立一个非常持久的业务。我们有一个结构性优势，我们在不同领域拥有所有这些产品，这些产品相互配合，并且客户在这些产品上取得了很高的成功，并且客户实际上从这些产品中获得了很多投资回报。

And we're really the only company doing that. So, what's driving customers to come to us is just increased -- it's return on investment. They can get more efficient, and that's what they're trying to do. But there's a limited number of things and change that they can tackle all at once.

我们是唯一一家在做这件事的公司。所以，吸引客户来找我们的驱动力就是投资回报率。他们可以变得更有效率，这正是他们所努力的。但他们一次只能处理有限数量的事情和变化。

So, that's why not all the change happens all at the same time. We're building this long-term franchise is one way to think about it of these very durable software products that are somewhat difficult for the customer to consume because they have to change their processes. But also, they're very sticky. They don't move them out.

所以，并不是所有的变化都会同时发生。我们正在建立这个长期的特许经营权，可以这样理解，这些非常耐用的软件产品对客户来说有些难以消化，因为他们必须改变他们的流程。但同时，这些产品也非常粘性。它们不会被替代。

So, that's what we're building. We don't generally lose to competitors. We might lose to inactivity. The customer says, hey, I'm not prioritizing this particular area.

这就是我们正在构建的东西。我们通常不会输给竞争对手。我们可能输在无所作为上。客户可能会说，嘿，我不会把这个特定领域作为优先事项。

I want to prioritize another area with my change. But we're not generally losing to another vendor.

我想把我的变化优先放在另一个领域。但我们通常不会输给其他供应商。

Brent Bracelin -- Analyst

Brent Bracelin -- 分析师

Helpful color there. And then, Tim, as a follow-up on margins, I think op margins were the highest we've seen in three years. Great to see that back trending above 40%. It looks like the biggest factor there was gross margin improvement.

这里提供了有益的信息。然后，Tim，关于利润率的跟进，我认为运营利润率是三年来最高的。看到它再次超过 40% 真是太好了。看起来最大的因素是毛利率的提高。

Can you just talk a little bit about what's driving that? Is it just mix shift? And how should we think about that going forward? Thanks.

您能谈谈是什么推动了这一点吗？这只是产品结构的变化吗？我们应该如何看待未来？谢谢。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Yeah, Brent, thanks for the question. And yes, on the gross margin side, I think it's a combination of mix shift, so both more subscription revenue than services and more non-Veeva CRM revenue with all the other products that we don't pay the royalty to Salesforce. So, both of those mix shifts comes into play as you think about the improved gross margin. And a little call out, I -- while services revenue was in line with guidance, the margin performance was quite good.

是的，Brent，感谢您的提问。是的，在毛利率方面，我认为这是产品结构变化的结合，所以订阅收入比服务收入更多，非 Veeva CRM 收入比我们不向 Salesforce 支付版税的所有其他产品更多。所以，这两种产品结构的变化都对改善毛利率起到作用。还有一点，虽然服务收入符合指导，但利润表现非常出色。

So, the service team continues to deliver value in a very efficient way. And I think that is probably how you think about our overall company, Brent. I think we deliver a tremendous amount of value to our customers. And Peter and the leadership team are highly efficient in doing it.

因此，服务团队继续以非常高效的方式提供价值。我认为这可能是您考虑我们整体公司的方式，Brent。我认为我们为客户提供了巨大的价值。Peter 和领导团队在这方面非常高效。

And you're seeing that in the results of our operating margin.

您可以从我们的运营利润的结果中看到这一点。

Brent Bracelin -- Analyst

Brent Bracelin -- 分析师

It makes sense. Great to see. Thanks, guys.

这很合理。很高兴看到。谢谢，各位。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Thanks, Brent.

谢谢，Brent。

Operator

运营人员

Your next question comes from Dylan Becker with William Blair. Please go ahead.

下一个问题来自 William Blair 的 Dylan Becker。请发言。

Dylan Becker -- William Blair and Company -- Analyst

Dylan Becker -- William Blair and Company -- 分析师

Hey, guys, really nice job here. Maybe for Peter, starting with you. You called out Site Connect in the prepared remarks. And so, wondering if we could get some more context on kind of the extension of the clinical offering.

嘿，各位，做得很好。也许 Peter，我们从您开始。您在准备好的讲话中提到了 Site Connect。所以，想知道我们是否可以更多地了解一下临床产品的扩展背景。

We've talked about other channels, ePRO, eCOA, recruitment in the past, and there's a long runway within the existing tool set. But how should we think about kind of maybe more of the early, early emerging solutions within clinical, if that's the right way of thinking about it?

我们过去已经谈论过其他渠道，如 ePRO，eCOA，招募，现有工具组合中还有很长的发展空间。但我们应该如何考虑在临床早期阶段的解决方案？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Dylan, I'll take specifically Site Connect because it is a key product for Veeva and very innovative. Site Connect is used by the sites, the clinical research sites around the world. And with our new evolution of Site Connect, our new release here, it's easy for all sites to consume it, can use it. It doesn't require any specialist software on their side.

Dylan，我将专门谈一下 Site Connect，因为它是 Veeva 的关键产品，非常创新。Site Connect 被全球临床研究机构使用。随着我们的 Site Connect 新版本的推出，所有机构都可以轻松使用它，无需在他们这边安装任何专门的软件。

We've added a bunch of site functionality, so I think the sites are going to really like that. And the site, in some ways, they are the customers of the sponsors, right? So, the sponsors have to care about the site's efficiency. Now, also for Site Connect, it drives efficiency for the sponsor as well in terms of document exchange and all the different use cases, safety letter distribution, all these use cases. So, Site Connect is interesting that it has a network effect.

我们增加了一系列机构功能，所以我认为机构们会非常喜欢。在某种程度上，机构是赞助商的客户，对各个机构的效率赞助商必须关心。现在，对于 Site Connect，它也提高了赞助商的效率，例如文件交换和所有不同的用例，安全信函分发等。因此，Site Connect 有一个网络效应。

It actually helps the site a lot, and it helps the sponsors a lot with their efficiency. So, that network effect will start kicking in. And I think it will, at times, drag along other clinical products from Veeva as well. So, that's about Site Connect.

它实际上对机构有很大帮助，也对赞助商的效率有很大帮助。因此，这种网络效应将开始发挥作用。我认为它有时会带动 Veeva 的其他临床产品。这就是关于 Site Connect 的内容。

You had another follow-up question, and I don't recall it.

您还有一个跟进问题，我记不清了。

Dylan Becker -- William Blair and Company -- Analyst

Dylan Becker -- William Blair and Company -- 分析师

No, that was -- it was, yeah, just around kind of other early stage solutions in clinicals. But I think, yes, the Site Connect piece covers it. It was more around ePRO, eCOA, all the other areas of recruitment, RTSM, some of the other areas we talked about in clinical.

不，是的，是的，只是关于临床中其他早期解决方案的问题。但我认为是的，Site Connect 部分已经涵盖了。主要是关于 ePRO，eCOA，我们在临床中谈论过的所有其他领域，如招募，RTSM 等。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Yeah. They're just earlier on in their cycle, very excited about RTSM. I think we have really a world-leading solution there, especially as we integrate it with our clinical operations suite. I think we'll -- over the next five years, we have plans that we can really change the game in RTSM, be the clear leader, and encourage customers, especially large customers, to just choose Veeva's enterprise standard to drive efficiency and use it on every trial.

是的。它们在发展周期的早期阶段，对 RTSM 感到非常兴奋。我认为我们在那里真的有一个世界领先的解决方案，特别是当我们将其与我们的临床运营套件集成时。我认为在未来五年内，我们有计划可以真正改变 RTSM 的游戏规则，成为明显的领导者，并鼓励客户，特别是大客户，选择 Veeva 的企业标准来提高效率，并在每个试验中使用它。

That's how confident we are in RTSM. And ePRO is early. ePRO, eCOA is early. And there are a lot of specific use cases depending on therapeutic area there.

这就是我们对 RTSM 有多有信心。ePRO 还处于早期阶段。ePRO，eCOA 还处于早期阶段。根据治疗领域的不同，有很多具体的用例。

So, that's something we have -- our first set of customers. And some of them are midsized companies and enterprise license agreements with midsized companies. We just have to move our product forward, improve our product and our processes. I think we'll be fine with ePRO and eCOA over time.

因此，这是我们的第一批客户。其中一些是中型公司，与中型公司签订的企业许可协议。我们只需推动我们的产品前进，改进我们的产品和流程。我认为随着时间的推移，我们在 ePRO 和 eCOA 方面会做得很好。

That one will just take time.

这需要时间。

Dylan Becker -- William Blair and Company -- Analyst

Dylan Becker -- William Blair and Company -- 分析师

OK, great. Thanks, Peter.

好的，非常感谢，Peter。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thank you.

谢谢。

Operator

运营人员

Your next question comes from the line of Jack Wallace with Guggenheim Securities. Please go ahead.

下一个问题来自 Guggenheim Securities 的 Jack Wallace。请发言。

Jack Wallace -- Analyst

Jack Wallace -- 分析师

Hey, thanks for taking my questions, and congrats on a strong quarter and the outlook. Peter and Paul, I wanted to ask about the -- how the migration conversations are coming along. And look, you've got a competitor that's made some noise about a takeaway. But it sounds like you're winning pretty much every new Vault deal that's out there.

嘿，感谢您回答我的问题，并祝贺您取得了强劲的季度业绩和展望。彼得和保罗，我想问一下关于迁移对话的进展如何。看起来您有一家竞争对手在提及某种带走。但听起来您几乎赢得了每一笔新的 Vault 交易。

I guess, one, how are the conversations progressing with your largest customers and their -- those timelines? And two, are you hearing any noise from your other competitors around any AI-based functionality that they're thinking is going to be a way to pick off a couple of customers? Thank you.

我想问一下，一是您与最大客户的对话进展如何，以及他们的时间表如何？二是，您是否听到来自其他竞争对手关于他们认为将通过某种基于人工智能的功能来吸引一些客户的消息？谢谢。

Paul Shawah -- Executive Vice President, Commercial Strategy

保罗·沙瓦 - 执行副总裁，商业战略

Yeah. Hey, Jack, I'll start with the migration. So, migration conversations are continuing to progress very well. And that's -- I would really say across the enterprise and SMB.

是的。嘿，杰克，我将从迁移开始。因此，迁移对话仍在继续很顺利地进行。我可以说这是跨企业和中小企业的。

And we're having those discussions pretty broad-based across our customer base. Every customer will certainly make a decision on their own timeline as to kind of when they move and when they commit to moving to Vault CRM, but the discussions are going well. And I would say, I would expect additional top 20 commitments to play out over the next 12 months. So, I think we're executing extremely well.

我们正在广泛地与我们的客户群进行这些讨论。每位客户肯定会根据自己的时间表做出决定，决定何时迁移到 Vault CRM，但讨论进行得很顺利。我想说，我预计在未来 12 个月内会有额外的前 20 承诺。因此，我认为我们的执行非常出色。

We're not doing anything too unnatural to force a decision timeline. We want customers to make the decision when they're ready and when it's right for them. But as I said, I just expect some additional commitments over the next 12 months. So, that's kind of how migrations are going.

我们没有做任何过分的事情来强迫决策时间表。我们希望客户在准备好并且适合他们的时候做出决定。但正如我所说，我只是预计在未来 12 个月会有一些额外的承诺。这就是迁移的进行情况。

And you see that we're executing well on that. We're on track to have some of our first migrations with some small customers by the end of this year in Q4 but also some of the larger migrations happening starting next year. I think your second question was about competition, what's happening in the competitive space, a little bit related to AI. I think there is an opportunity maybe to take a step back a little bit around what's happening from a competitive landscape standpoint.

您可以看到我们在这方面的执行情况良好。我们计划在今年第四季度与一些小客户进行首次迁移，同时也计划从明年开始进行一些较大规模的迁移。我想您的第二个问题是关于竞争，竞争空间中发生了什么，与人工智能有关。我认为可能有机会稍微退后一步，看看从竞争格局的角度发生了什么。

I think you brought up a competitive takeaway. We did hear about that. But it's clear that the primary competitor for us is Salesforce, right? We used to compete with IQVIA. IQVIA, their product OCE, hasn't performed well in the marketplace.

您提到了竞争带走。我们确实听说过这个。但很明显，我们的主要竞争对手是 Salesforce，对吧？我们曾与 IQVIA 竞争。 IQVIA，他们的产品 OCE 在市场上表现不佳。

They sold off and licensed the rights back to Salesforce, so we don't see them as a competitor anymore. It turns out Salesforce is going to build on top of that product. So, IQVIA, I did hear them mention a competitive takeaway. You have to ask them specifically about what that is.

他们出售并将权利许可回给 Salesforce，因此我们不再将他们视为竞争对手。结果 Salesforce 将在该产品基础上进行扩展。因此，IQVIA，我确实听到他们提到了竞争带走。您必须直接问他们那是什么。

We're not aware of what they're referring to there. So, I do see Salesforce as the primary competitor. They do talk a lot about AI. They talk a lot about how they're going to have their first release of a product toward the end of next year.

我们不清楚他们指的是什么。因此，我认为 Salesforce 是主要竞争对手。他们经常谈论人工智能。他们谈论他们将在明年年底推出产品的第一个版本。

Obviously, that's a different motion for them, right? This is doing something that's very deep and industry-specific, so it remains to be seen what will actually happen there. But of course, AI is a big part of that selling pitch. In terms of kind of our position, I think about our competitive position as continuing to improve. You see that in the results.

显然，对他们来说这是一个不同的动作，对吧？这是在做一些非常深入和行业特定的事情，因此尚不清楚实际会发生什么。但当然，人工智能在销售中起着重要作用。就我们的位置而言，我认为我们的竞争地位在不断提高。

But I do think we have a structural advantage. Peter talked about that in the clinical space. I think we also have that structural advantage in the commercial and in the CRM space really for a number of reasons. First is the execution.

您可以从结果中看到这一点。但我认为我们有结构性优势。彼得谈到了在临床领域的优势。我认为我们在商业和 CRM 领域也有这种结构性优势，原因有很多。首先是执行。

We have a product that's available in the marketplace. We have 15 customers live on it. We have our top 20 pharma customers that will be live from a migration by the end of next year in over 50 countries. That's really, really hard to do.

我们的产品已经在市场上可用。我们有 15 个客户正在使用。到明年底，我们的前 20 家制药客户将在 50 多个国家进行迁移。这真的非常困难。

It's not clear that anybody can deliver on that. Salesforce can deliver on that in two or three or even four years. Even if they're able to get there at all, we know that IQVIA wasn't able to deliver on that. So, having a product available and executing on that consistently, that's a big advantage.

任何人都不清楚是否有人能够做到这一点。Salesforce 可能需要两三年，甚至四年才能做到这一点。即使他们最终能够做到，我们知道 IQVIA 无法做到。因此，拥有可用产品并持续执行，这是一个巨大的优势。

Certainly, our customer relationships, we've been selling and working with these customers and delivering for the last five or 10 or 15 years with some of these customers. And then, of course, our vision. We're building a commercial cloud, an industry cloud, and that's very different than what anybody else in the market is doing. So, I gave you a long answer, but I wanted to give you some context.

当然，我们的客户关系，我们与这些客户合作并为他们提供服务已经有五年、十年甚至十五年的历史。当然，还有我们的愿景。我们正在构建一个商业云，一个行业云，这与市场上任何其他公司所做的都非常不同。因此，我给了您一个很长的答案，但我想给您一些背景。

The competitive position is playing out, and this is why we're so focused on execution. We have the right product strategy. We're going to continue to focus on execution. And I think based on that, we'll create a durable business and with growth opportunity with some of the new products that we talked about earlier in the areas of service and marketing, and patient.

竞争地位正在发挥作用，这就是为什么我们如此专注于执行。我们有正确的产品战略。我们将继续专注于执行。我认为基于此，我们将创造一个稳固的业务，并且在服务、营销和患者等领域的一些新产品中创造增长机会。

Jack Wallace -- Analyst

杰克·华莱士 - 分析师

Thank you, Paul. Really appreciate it. And if I could sneak a quick one in on Compass, it's been eight months since the launch of Prescriber and National. Just wondering how conversations with clients at a high level are progressing.

谢谢，保罗。非常感谢。如果我可以在 Compass 上再问一个问题，Prescriber 和 National 推出已经八个月了。只是想知道与客户在高层次上的对话进展如何。

And if any of your larger customers have deemed the data to be compensation grade. And if not yet, at this point, what a timeline would look like for that determination? Thank you.

如果您的一些较大客户已经认为这些数据达到了补偿标准。如果还没有，那么在这一点上，确定这一决定的时间表会是什么样子？谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

彼得·P·加斯纳 - 联合创始人兼首席执行官

Yeah. Good progress with Compass and mostly in the patient area in terms of sales and the new brands that we're adding. In the Prescriber and National projected products, there's more education going on, a little bit of sales activity here and there, but there's a lot of education getting ready. We don't have anybody using it for compensation yet.

是的。Compass 取得了良好的进展，主要是在患者领域的销售和我们正在添加的新品牌。在 Prescriber 和 National 预测产品中，目前正在进行更多的教育，偶尔也有一些销售活动，但准备工作很多。我们目前还没有任何人将其用于补偿。

I do expect that will happen next year. It's important to remember that for Compass, particularly Prescriber and National, we're taking a new approach, a fundamentally different data approach. We are projecting not only retail data but specialty data to not only retail prescriptions but things -- complex therapies that are delivered through specialty pharmacy. So, we're projecting for about 4,000 brands.

我预计明年会发生这种情况。重要的是要记住，特别是对于 Compass，特别是 Prescriber 和 National，我们采取了一种新的方法，一种根本不同的数据方法。我们不仅预测零售数据，还预测专业数据，不仅预测零售处方，还预测通过专业药房提供的复杂疗法。因此，我们为大约 4,000 个品牌进行预测。

That's something totally new, and people will have to get used to that before they use it for compensation. For compensation, that's also -- generally, people look at that on an annual basis in general on the average, right? They're not going to switch that midyear, so we'll see how things play out with Prescriber and National. I'm very bullish over the long term. But boy, that's not quite Mt.

这是完全新的东西，人们在将其用于补偿之前必须先适应。对于补偿，一般来说，人们通常会在年度基础上进行考量，对吧？他们不会在年中进行切换，所以我们将看到 Prescriber 和 National 的表现如何。从长期来看，我非常乐观。但是，这并不完全是珠穆朗玛峰，这是一个艰巨的攀登。这需要时间。

Everest, but it's a big hill to climb. It's going to take time.

珠穆朗玛峰，这是一个艰巨的攀登。这需要时间。

Jack Wallace -- Analyst

杰克·华莱士 -- 分析师

Got it. Thank you so much. Congrats again.

明白了。非常感谢。再次祝贺。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thank you.

谢谢。

Operator

运营商

Your next question comes from the line of Callie Valenti with Goldman Sachs. Please go ahead.

下一个问题来自高盛的卡莉·瓦伦蒂。请发言。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡罗琳·瓦伦蒂 -- 高盛分析师

Hi. Thanks for taking my question, and congrats on the quarter. Just a higher-level one for me to start with. When you look at your addressable market today, just curious like what product suite do you see the most opportunity to continue developing functionality in over time? Is that kind of more of the R&D side of the business versus the commercial? And any kind of specific products you would call out?

嗨。感谢回答我的问题，对本季度的表现表示祝贺。我想先从一个更高层次的问题开始。当您看待当前可寻址市场时，您认为哪种产品套件在未来继续开发功能方面具有最大机会？这更多地是研发方面的业务还是商业方面的？有没有特定的产品您想要提及？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Callie, I would say all -- both R&D and commercial have room to grow in multiple areas. Both of them have products that are quite new, very new such as Campaign Manager, Service Center. And then over on Compass, we just talked on Compass Prescriber. In the Safety Suite, we got ePRO.

卡莉，我想说研发和商业两方面都有多个领域可以发展。它们都拥有一些非常新的产品，比如 Campaign Manager、Service Center。然后在 Compass 方面，我们刚刚谈到了 Compass Prescriber。在 Safety Suite 中，我们有 ePRO。

If you look at our TAM overall, how we laid it out, our $20 billion TAM, about 35 -- the biggest areas are commercial and clinical at about sort of 35% each, right, commercial and clinical, then we have quality, which is another big area. We have LIMS coming out there. We have Batch Release. And then after that, it's regulatory and safety.

如果您看我们的总地址 able 市场，我们的 200 亿美元地址 able 市场中，大约有 35% 最大的领域是商业和临床，商业和临床各约占 35%，然后我们有质量，这是另一个重要领域。我们有 LIMS 即将推出。我们有批释放。然后再之后是监管和安全。

I would say that's how to think about it. I wouldn't say there's one dominant area, the two biggest areas, clinical and commercial, and they both have a mix of new and established products.

我想这样去思考。我不会说有一个主导领域，最大的两个领域是临床和商业，它们都拥有新产品和成熟产品的组合。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡罗琳·瓦伦蒂 -- 高盛分析师

Yeah, that makes sense. Thank you. And then just other quick follow-up. Just wanted to ask you, as science continues to evolve at kind of a rapid clip, how do you think about your solutions, particularly some of the trial-facing ones evolving with that and just kind of some of the flexibility that you've built into those solutions to deal with that? Thank you.

是的，这很有道理。谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Yeah. If you look at what we do, you mentioned the science. This is where the real biology work. We're understanding more about how the human body operates, how we can treat unmet needs.

是的。如果您看我们的工作，您提到了科学。这是真正的生物学工作。我们正在更多地了解人体的运作方式，我们如何治疗未满足的需求。

And there's a lot of needs that are unmet right now, and science is really advancing. Now, with what Veeva does, we're generally not involved at that level of the science. We design our solutions to handle all different types of clinical trials to manufacture all different types of drugs to do the sales and marketing on all different types of products. So, we're generally not specifically affected by the science because we build that flexibility in.

现在有很多需求目前尚未得到满足，科学正在不断进步。现在，就 Veeva 的所做的事情而言，我们通常不涉及到科学的那个层面。我们设计我们的解决方案来处理各种类型的临床试验，生产各种类型的药物，对各种类型的产品进行销售和营销。因此，我们通常不会受到科学的具体影响，因为我们在其中建立了灵活性。

Now, evolution in science is good for Veeva overall because that helps the life sciences industry grow, more medicines for more patients, more value, therefore, more need for automation.

现在，科学的进步对整体的 Veeva 是有益的，因为这有助于生命科学行业增长，为更多患者提供更多药物，创造更多价值，因此对自动化的需求也更大。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡罗琳·瓦伦蒂 -- 高盛分析师

Great. Thank you.

好的。谢谢。

Operator

运营商

Your next question comes from the line of Craig Hettenbach with Morgan Stanley. Please go ahead.

下一个问题来自摩根士丹利的克雷格·赫滕巴赫。请发言。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析师

Thank you. I wanted to touch on capital allocation. As your cash balance continues to build up, any update on the strategy there and opportunity to put that to work?

谢谢。我想谈一下资本配置。随着您的现金余额不断增加，对于战略和将这些资金投入运作的机会是否有任何更新？

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉尔 -- 临时首席财务官

Yeah, Craig, thanks for the question. This is Tim. No update to that. What you've heard us talk about in the past is focused primarily on dry powder for potential M&A.

是的，克雷格，感谢您的问题。这里是蒂姆。对此没有更新。您过去听到我们谈论的重点主要是为潜在并购保留干粉。

So, no, no change in what you've heard us talk about in the past.

所以，对于您过去听到我们谈论的内容没有任何变化。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析师

OK. And then as my follow-up, just touching on headcount, up 1% year over year. I'm sure some of that is just some of the services weakness in terms of response to that. But just more broadly, how are you thinking about headcount and kind of going into next year?

好的。然后作为我的跟进问题，只是涉及人员编制，同比增长 1%。我相信其中一些只是对服务方面的一些薄弱反应。但更广泛地说，您如何看待人员编制，以及未来的发展？

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉尔 -- 临时首席财务官

Yeah. Craig, as we look forward, as you heard both Peter and Paul talk about in this call today, we do have a large opportunity in front of us. And we continue to look for the right level of investment, which will include adding to the team. I think what you've seen over the last year is while we have been adding, we've also been trying to drive and gain more efficiency.

是的，克雷格，当我们展望未来时，正如今天在通话中您听到彼得和保罗谈到的，我们面临着巨大的机遇。我们继续寻找适当的投资水平，这将包括增加团队。我认为您在过去一年中所看到的是，虽然我们一直在增加，但我们也一直在努力推动并获得更多效率。

And I think you called it out in terms of services, probably an area where we've seen the largest amount of efficiency. And I mentioned that in the gross margin performance of that business earlier, you're seeing that outcome. So, look, I think there's an opportunity, a big opportunity in front of us, and we'll invest against it. But at the same time, we're also very thoughtful on how efficient we want to be as a team, how appropriately lean as an organization we want to be.

我认为您在服务方面提到的效率可能是我们看到的效率最高的领域。我之前在该业务的毛利表现中提到过，您可以看到这一结果。因此，我认为我们面临着一个巨大的机遇，我们将投资于此。但与此同时，我们也非常注重团队的效率，我们希望作为一个组织保持适当的精益。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析师

That's helpful. Thanks.

这很有帮助。谢谢。

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉尔 -- 临时首席财务官

Sure.

当然。

Operator

运营商

Your next question comes from Ryan MacDonald with Needham and Company. Please go ahead.

下一个问题来自尼德姆和公司的瑞安·麦克唐纳。请发言。

Ryan MacDonald -- Analyst

瑞安·麦克唐纳 -- 分析师

Hi. Thanks for taking my questions, and congrats on a great quarter. Peter, I wanted to talk about safety a bit. Obviously, it's continuing to have nice success there.

嗨。感谢回答我的问题，对一个出色的季度表示祝贺。彼得，我想谈一下安全性。显然，在那方面一直取得不错的成功。

But as was mentioned in the prepared remarks, it's a complicated segment with customers resistant to change. Just curious, as you're continuing to have safety conversations with those prospective customers, is there some great unlock that we should kind of look for to sort of help drive this modernization into the cloud in safety versus on-prem in that segment of the market? And as you think about the next 12 to 24 months, is there a catalyst in your view that sort of unlocks that opportunity or maybe hastens the wave of innovation there?

但正如在准备好的讲话中提到的，这是一个与客户抗拒变化的复杂领域。只是好奇的是，在与那些潜在客户继续进行安全对话时，我们是否应该寻找一些重要突破，以帮助推动这种现代化安全转移到云端而不是市场上的现场安全？当您考虑未来 12 至 24 个月时，您是否认为有某种催化剂可以解锁这一机会，或者加速创新浪潮？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

I do expect there will be a catalyst. The thing about catalysts, we can't predict when or what. But I do think there'll be a catalyst. We have a clear product strategy, a Safety Suite in the cloud, that really have a lot of innovation and have some customers live and happy for a period of time.

我确实预计会有一个催化剂。关于催化剂的事情，我们无法预测何时或什么。但我确实认为会有一个催化剂。我们有一个明确的产品战略，一个云端的安全套件，这确实有很多创新，并且有一些客户已经使用并且很满意一段时间了。

There are two legacy providers mainly. There may be some smaller ones, but there's mainly two legacy providers. We don't know what those legacy providers do. We don't know if one of them has issues here or there, and that starts getting around and they start having issues and it becomes not tenable.

主要有两家传统供应商。可能还有一些较小的供应商，但主要是两家传统供应商。我们不知道这些传统供应商会做什么。我们不知道其中一家是否存在问题，这种情况开始传开，他们开始出现问题，变得不可持续。

OK, that would hasten the move to Veeva because Veeva's kind of stable. We're not moving. That solution is going to be good. Another accelerant, I would say, is as our EDC product gets more traction and we have customers start hooking our EDC product to our safety product, there's significant savings there, significant savings.

好的，这将加速转向 Veeva，因为 Veeva 相对稳定。我们不会变动。那个解决方案将是很好的。我想说，另一个加速因素是随着我们的 EDC 产品获得更多认可，我们的客户开始将我们的 EDC 产品与我们的安全产品连接起来，这将带来显著的节省，显著的节省。

People can be repurposed to do other things when that connection is done, so that would be -- that would get noticed. And there may be some type of breakthrough that could happen over time, too. Remember, this safety is on the Vault platform. So, it has the complete flexibility of the Vault platform, including the Direct Data API.

当连接完成时，人们可以被重新分配做其他事情，因此那将被注意到。随着时间的推移，也可能会发生某种突破。请记住，这个安全是建立在 Vault 平台上的。因此，它具有 Vault 平台的完全灵活性，包括直接数据 API。

So, what type of AI things can be done on top of that AI, that Direct Data API? What type of AI things? That will be different than can be -- what can be done on the legacy, and that might cause some type of a tipping point. I believe our strategy for safety is quite good because we know what we're doing, and we're moving along. There are two legacy providers that won't be able to move along at some point and that they -- we have a structural advantage. I just don't know when that's going to start happening.

那么，在这个直接数据 API 上可以做什么类型的人工智能呢？有什么类型的人工智能？那将与传统的不同，这可能导致某种转折点。我相信我们的安全策略非常好，因为我们知道我们在做什么，我们在不断前进。有两家传统供应商在某个时候将无法继续前进，我们具有结构性优势。我只是不知道这将何时开始发生。

Ryan MacDonald -- Analyst

Ryan MacDonald -- 分析师

Helpful color there, Peter. Thanks. Maybe as a follow-up question, just wanted to touch on Vault Basics just real quick. I know it's a small -- sort of smaller segment of the business in terms of your exposure.

Peter，非常有帮助的见解。谢谢。也许作为一个后续问题，我只想简单谈一下 Vault Basics。我知道在您的业务中，它是一个较小的领域，暴露度方面。

But obviously, it's been one that if we look over the last 12 months has been more volatile in the earlier-stage biotech. Just curious, if you think about some of the early success here or maybe momentum that Vault Basics gives you at the lower end of that market can turn that earlier-stage segment into more of a growth engine over the next couple of years for Veeva. Thanks.

但显然，在过去 12 个月中，它在早期生物技术领域更加波动。我只是好奇，如果您考虑到这里的一些早期成功，或者 Vault Basics 给您带来的动力，是否可以将这个早期阶段的部分转变为未来几年 Veeva 的增长引擎。谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Yeah. I love Vault Basics. Let's just get that out there. I love it for many, many reasons.

是的。我喜欢 Vault Basics。让我们明确这一点。我喜欢它，有很多原因。

One is we're only starting about a year ago. And man, we really did some major innovation there. We already have 12 customers live. More customers than that signed up.

其中一个原因是我们只是大约一年前开始。天啊，我们在那里真的做了一些重大创新。我们已经有 12 个客户在使用。有更多的客户签约。

So, that just shows the speed of Veeva. Even at our size, we can move and put great people on it, and they've done great things. It's also interesting that about 80% of the opportunity there would be opportunity that was not available to Veeva, just not available before because they didn't have the wherewithal to go on to the full Development Cloud. So, they were -- would stay on paper and spreadsheets and collaboration softwares and shared drives and things like that.

这显示了 Veeva 的速度。即使在我们这样的规模下，我们也可以行动起来，让优秀的人才投入其中，他们做了很多伟大的事情。有趣的是，那里大约 80% 的机会是以前对 Veeva 不可用的机会，以前是不可用的，因为他们没有能力进入完整的开发云。因此，他们会继续使用纸张、电子表格、协作软件、共享驱动器等。

So, we're getting to more of the market. Now, that market is -- maybe you would consider that not huge. I think it's $100 million or more. It's in that range.

因此，我们正在接触更多的市场。现在，这个市场可能您认为不是很大。我认为它在 1 亿美元左右。大致在这个范围内。

But that's -- it's good revenue and it's customer success for those customers. But the other thing that it's doing is it's really teaching Veeva how to simplify, how to get more done in a more efficient way, how to help the industry standardize. And that's going to help our enterprise and even G17 business over time. So, Vault Basics has been a home run for the customers who are starting to use it.

但这是一个良好的收入，对于那些客户来说也是成功的。但它所做的另一件事是真正教会了 Veeva 如何简化，如何更高效地完成更多工作，如何帮助行业标准化。这将帮助我们的企业，甚至是 G17 业务随着时间的推移。因此，Vault Basics 对于那些开始使用它的客户来说是一个大成功。

And it's a great feeling for Veeva that we can change like that, and it's going to really help our enterprise business over time, not because those enterprise customers are going to use Vault Basics, but the process improvements and the simplification and the standardization that it's going to drive, that's truly going to pay dividends. We will build -- we will bring Vault Basics to more applications over time, including to the commercial areas. We'll do it in a slightly different way in commercial, but the concepts of Vault Basics are very applicable.

对于 Veeva 来说，这是一种伟大的感觉，我们可以做出这样的改变，这将真正帮助我们的企业业务，不是因为那些企业客户将使用 Vault Basics，而是因为它将带来的流程改进、简化和标准化，这将真正带来回报。我们将随着时间将 Vault Basics 带到更多应用程序中，包括商业领域。我们将以稍微不同的方式在商业领域使用，但 Vault Basics 的概念是非常适用的。

Ryan MacDonald -- Analyst

Ryan MacDonald -- 分析师

Makes sense. Appreciate the color. Congrats again.

很有道理。感谢您的见解。再次恭喜。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thank you.

谢谢。

Operator

运营商

Your next question comes from the line of Kirk Materne with Evercore ISI. Please go ahead.

您的下一个问题来自 Evercore ISI 的 Kirk Materne。请讲。

Unknown speaker -- -- Analyst

未知发言人 -- -- 分析师

Hi, guys. This is Bill on for Kirk. Looking at Vault Direct Data API, how seamless is it for customers to turn it on and start using it? Is it something that needs an implementation? Or is it something that can happen kind of right away?

嗨，伙计们。这里是 Kirk 的代表 Bill。看看 Vault Direct Data API，客户要启用它并开始使用它有多无缝？这是否需要实施？还是可以立即发生？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

I'll take that one, Bill. This is Peter. That is something that's purchased by the customer, so that is something that is not free for the customers to use. They purchase it.

我来回答这个问题，Bill。这是 Peter。这是客户购买的东西，因此客户不是免费使用的。他们购买它。

The fee is not that large. It covers our compute cost, that type of thing. So, they have to really decide that they want it. After that, no, there's no implementation.

费用并不高。它涵盖了我们的计算成本，这类事情。因此，他们必须真正决定他们是否想要它。之后，不，不需要实施。

You turn it on, and it's on. And that's that. Now, to use it, a customer would have to learn how to use it, read the documentation, figure out, hey, this is a little bit different type of API. What do I want to use it for? How can I use it? But there's no implementation.

打开它，它就开启了。就是这样。现在，要使用它，客户必须学会如何使用它，阅读文档，弄清楚，嘿，这是一种有点不同类型的 API。我想用它做什么？我怎么用？但是没有实施。

You turn it on, and it's on.

打开它，它就开启了。

Unknown speaker -- -- Analyst

未知发言人 -- 分析师

OK, great. Thanks for taking my question.

好的，谢谢您回答我的问题。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Peter P. Gassner -- 联合创始人兼首席执行官

Thanks.

谢谢。

Operator

操作员

Your next question comes from the line of Jailendra Singh with Truist Securities. Please go ahead.

下一个问题来自 Truist Securities 的 Jailendra Singh。请发言。

Jenny Cao -- Truist Securities -- Analyst

Jenny Cao -- Truist Securities -- 分析师

Hi. This is Jenny Cao on for Jailendra Singh at Truist Securities. Just a question on professional service. Well, first, congrats on a nice quarter.

嗨。我是 Truist Securities 的 Jenny Cao。关于专业服务方面有一个问题。首先，恭喜您取得了一个不错的季度成绩。

But it seems the professional services part of Veeva solutions continued to be a weak spot in the report this quarter. Is that still because customers kind of see professional services as discretionary and are still continuing to delay certain services? And then for the part where customers are contracting directly with third-party vendors, is that driven by some initiatives to save costs or be more efficient? What do you think is driving that?

但是看起来 Veeva 解决方案中的专业服务部分在本季度报告中继续是一个弱点。这是否仍然是因为客户将专业服务视为可自行决定的，并且仍在继续推迟某些服务？而对于客户直接与第三方供应商签约的部分，是出于节约成本或更高效的一些倡议吗？您认为是什么推动了这一点？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 临时首席财务官

Yeah. Jenny, this is Tim. I'll take that question, and thanks for it. So, first, I would characterize professional services not as a weakness, but it's certainly a strength of Veeva.

是的。Jenny，我是 Tim。我会回答这个问题，谢谢您提出。首先，我认为专业服务不是一个弱点，而是 Veeva 的一个优势。

It is one that, as I mentioned earlier, we're optimizing for customer success, which I think our services team is delivering that customer success as they help our customers deploy and adopt some of these very, very important applications. So, I think that's first and foremost. Secondly, as you look at some of the dynamics that we're seeing, I think it's a fact that -- or it's a function of, again, how we think about the services business, and it will be lumpy. There are -- across our product portfolio, the attach rates are different for different products.

正如我之前提到的，我们正在优化客户的成功，我认为我们的服务团队正在为客户成功提供帮助，帮助他们部署和采用一些非常重要的应用程序。所以，我认为这是首要的。其次，当您看一些我们正在看到的动态时，我认为这是一个事实，或者说这是我们如何思考服务业务的一个功能，它会有起伏。在我们的产品组合中，不同产品的附加率是不同的。

And as you stated and as I stated earlier, customers have the optionality to make decisions that are -- that may be unique to them or best for them. And what we try to do is partner with our customers to make sure that they feel very confident. What I would not say is that this is a function of services generally not being important. While our share of the pie might be reduced a little bit in some of these examples that I gave, Jenny, it's not a fact that services or professional services are unimportant to our customers to really get the maximum value out of our solutions.

正如您所说的，也正如我之前所说的，客户有选择权，可以做出对他们来说可能是独特的或最适合他们的决定。我们试图与客户合作，确保他们感到非常自信。我不会说这是服务普遍不重要的一个功能。尽管在我提到的一些例子中，我们在这些例子中所占的份额可能有所减少，Jenny，但事实并非是服务或专业服务对于我们的客户不重要，以便真正从我们的解决方案中获得最大价值。

Jenny Cao -- Truist Securities -- Analyst

Jenny Cao -- Truist Securities -- 分析师

Thanks for that color, Tim, and just a follow-up. I remember since November last year, Veeva was seeing some elongated deal cycles and deal timing. Since then, have you seen any of the delayed decision-making come back in the last 10 months? Like for the deals that weren't substituted by their own internal solutions, like what has been a typical time frame for that to come back, if you have seen any? And thanks for taking my question.

谢谢您的解释，Tim，我有一个跟进问题。我记得自去年十一月以来，Veeva 看到一些交易周期延长和决策时间延长。自那时以来，您是否看到任何推迟的决策在过去的 10 个月内有所回归？对于那些没有被他们自己的内部解决方案替代的交易，如果您看到了，那么典型的时间跨度是多久才会回归？感谢您回答我的问题。

Timothy Stephen Cabral -- Interim Chief Financial Officer

是的，Jenny，我是 Tim。我认为当您考虑我们在 10 个月前进行的对话时，宏观经济面临的阻力刚开始产生影响。我认为这是我们 10 个月前对话中的信息。正如您之前听到 Peter 提到的，仍然存在一些宏观经济上的阻力。

Yeah, Jenny, this is Tim again. I think as you think about the conversation that we had 10 months ago, the macroeconomic headwinds were just starting to somewhat come into play. And I think that was informed in our conversation 10 months ago. As you heard Peter talk about earlier, there are still macroeconomic headwinds that are out there.

但我认为我们做得很好，与我们的客户合作，通过这一点执行。因此，是的，一些交易周期会延长，我们与这些客户非常接近，并继续让他们关注在适当的时间关闭这些交易。所以，我认为这是宏观经济面临的阻力，但我们正在通过这一点执行。

But I think what we've done a nice job of and working with our customers is executing somewhat through that. So, while, yes, some deal cycles get elongated, we are very close to these customers and continue to keep them on the radar screen in terms of closing those deals at the appropriate time for them. So, I think it's a function of the macroeconomic headwinds, but we're executing through that.

操作员

Operator

下一个问题来自 TD Cowen 的 Charles Rhyee。请发言。

Next question comes from the line of Charles Rhyee with TD Cowen. Please go ahead.

Charles Rhyee -- 分析师

Charles Rhyee -- Analyst

是的。感谢您回答问题。首先，我想问一下关于 Crossix。第二季度，您在这里表现不错。

Yeah. Thanks for taking the question. Well, first, I wanted to ask about Crossix. The second quarter now, you had a solid performance here.

我们听到商业领域的同行也谈到看到推迟的项目开始转化。您是否看到生物制药公司的自愿支出开始解冻，您认为这可能会加速对您其他产品的需求吗？

And we've heard peers in the commercial space talk about seeing delayed projects also starting to convert. Are you seeing a thawing in the discretionary spend across biopharma companies that you think that can accelerate demand for some of your other offerings as well?

Peter P. Gassner -- 联合创始人兼首席执行官

Peter P. Gassner -- Co-Founder and Chief Executive Officer

Charles，我是 Peter。我不能称之为解冻。不，我认为有时候，当您有一点积压需求时，有时候这只会导致 -- 这会将事情推迟到以后。所以，我认为您可能正在看到这一点。

Charles, this is Peter. I can't call it a thawing really. No, I think sometimes, what happens is when you have a little bit of pent-up demand, sometimes that just causes -- that puts things off for later. So, I think you may be seeing that.

我不会称之为解冻。我只是认为也许他们有一点积压，事情积压得足够多。所以，最近 90 天内没有任何重大的，例如，负面宏观新闻。当您有负面的宏观新闻时，这会导致解冻。

I wouldn't call it a thawing. I just think maybe they had a little bit of pent-up, and things got pent-up enough. So, there's been no -- there's no material, for example, macro news to the negative in the last 90 days. When you have macro news to the negative, that creates a thawing.

当您没有任何额外的负面因素时，事情开始再次流动。但我不会称之为解冻。解冻可能会 -- 您可能会认为有一场冰雪融化，然后洪水来临。不是这样的。

When you don't have any things that are extra to the negative, things start flowing again. But I wouldn't call it a thawing. A thawing might -- you might think there's a thaw of ice, and then there's a flood coming. It's not like that.

现在只是流动得更顺畅一点。

It's just flowing a little bit better now.

Charles Rhyee -- 分析师

Charles Rhyee -- Analyst

明白了。这很有帮助。也许对 Tim 有一个跟进问题。在这里第三季度的账单指导中，这意味着第三季度同比增长约 5%，第四季度再次增长。

Got it. That's helpful. And then maybe a follow-up for Tim. In the billings guidance for the third quarter here, it kind of implies about 5% year over year in the third quarter, steps back up in the fourth quarter.

如果我看过去几年，同比账单增长一直比较稳定。这里有什么需要注意的吗？我知道在您之前的准备好的评论中，Peter，您谈到了时间问题。任何评论将会很有帮助。谢谢。

If I look at the last few years, billings growth year over year has been a little bit more constant. Anything to call out here? I know earlier, Peter, in your prepared comments, you talked about timing issues. Just maybe any comments there would be helpful. Thank you.

Timothy Stephen Cabral -- 临时首席财务官

Timothy Stephen Cabral -- Interim Chief Financial Officer

Sure, Charles. I think that guide and the shape of that guide for the back half of the year is a combination of two things. One, Q3 was a little bit of a stronger quarter last year, so a little bit of a harder compare. But also, I think where you've heard us normalize, and you can see that in the deck that we supply as a supplement to our press release, Charles, we are seeing some billing term changes.

查尔斯，我认为今年下半年的指引和形状是两个因素的结合。首先，去年第三季度是一个稍强的季度，所以比较起来会有一些困难。但同时，我认为你已经听到我们在正常化方面的努力，你可以在我们作为新闻发布的补充提供的资料中看到，查尔斯，我们正在看到一些账单条款的变化。

Most of it is being driven by movement of renewal dates. That also will have an impact to that normalized billing.

大部分是由续约日期的调整驱动的。这也会对账单的正常化产生影响。

Charles Rhyee -- Analyst

查尔斯·瑞 -- 分析师

Got it. Thanks.

明白了。谢谢。

Operator

操作员

Your next question comes from the line of David Larsen with BTIG. Please go ahead.

下一个问题来自 BTIG 的大卫·拉森。请发言。

David Larsen -- Analyst

大卫·拉森 -- 分析师

Hi. Congratulations on the strong quarter. Can you talk a little bit about the competitive environment, especially on the clinical side? It sounds like you've made a lot of advancements on the clinical side over the years. So, is your portfolio suite at least comparable to like Phase Forward and Medidata, and eResearch Technologies? Do you have all of those modules that those competitors have now? And if not, when would you expect to have them? Thank you.

嗨。恭喜你们取得强劲的季度业绩。你能谈谈竞争环境吗，特别是在临床方面？听起来你们在临床方面多年来取得了许多进展。那么，你们的产品组合至少与 Phase Forward、Medidata 和 eResearch Technologies 相媲美吗？如果不是，你们预计何时会拥有这些模块？谢谢。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

彼得·P·加斯纳 -- 联合创始人兼首席执行官

This is Peter. I'll take that one. In terms of the broadness of our offering, I believe we have the broadest offering that anybody has had before, especially when you look at -- we're able to talk to the largest of companies and the smaller ones. So, we have a clinical -- full clinical operations suite and a full clinical data management suite.

我是彼得。我来回答这个问题。就我们的产品广度而言，我相信我们的产品是迄今为止最广泛的，特别是当你看到 -- 我们能够与最大的公司和较小的公司交流。因此，我们拥有完整的临床运营套件和完整的临床数据管理套件。

For example, that's not something that Phase -- you mentioned Phase Forward or Medidata, that's really not something that they've had before. So, that's kind of how I see it. And how did we get that way? I think it's just through disciplined execution. If you look back, our first clinical product was, I believe, in the 2012 time frame with eTMF.

例如，你提到的 Phase Forward 或 Medidata，他们以前确实没有这样的产品。这就是我看待这个问题的方式。我们是如何做到的呢？我认为这只是通过有纪律的执行。如果回顾一下，我们的第一个临床产品是在 2012 年左右推出的，那时是电子试验管理文件。

So, we worked hard on that, got a few customers, got them live, didn't move on until they were really live, really happy. Products started to get a bit more mature, then we announced, hey, we're going to build CTMS and then EDC. And we stayed there for a while and really focused on those products, made them good. Now, we start talking about EDC and Site Connect and Study Training.

因此，我们努力开发产品，获得了一些客户，让他们上线运行，直到他们真正上线，真正满意。产品开始变得更加成熟，然后我们宣布，嘿，我们要开发临床试验管理系统（CTMS）和电子数据采集（EDC）。我们在那里停留了一段时间，真正专注于这些产品，使它们变得优秀。现在，我们开始谈论 EDC、站点连接和研究培训。

So, it's been a systematic approach to build out the whole suite. And it takes that because if you want to be a great multiproduct company, it means all of your products need to be great, not just one or two of them. So, you got to concentrate, and it's hard. And that's -- we've taken a kind of a -- I would say a methodical structured approach to that because we're building this durable long-term business that should last for generations.

因此，我们一直在系统地构建整个套件。这是必须的，因为如果你想成为一个伟大的多产品公司，那么你所有的产品都必须是优秀的，而不仅仅是其中一两个。因此，你必须集中精力，这很困难。我们采取了一种有条不紊的结构化方法，因为我们正在打造一个持久的长期业务，应该可以延续几代人。

That wasn't really what you set out to do if you're making a clinical application just in a certain area, right? That's not what you're setting out to do. So, our frame of reference and what we're trying to accomplish is just different.

如果你只是在某个特定领域开发临床应用程序，那并不是你的初衷，对吧？我们的参考框架和我们试图实现的目标是不同的。

David Larsen -- Analyst

大卫·拉森 -- 分析师

OK. Great. And then, Peter, from your perspective, how important is it to have the commercial and the clinical side all on one single sort of Vault database? Some people I've talked to in the channel say, on the biopharma side, you really have two different kind of companies in a way. You got the commercial sales side, and then you got the research side.

好的。然后，从你的角度来看，彼得，将商业和临床两方面都放在一个 Vault 数据库中有多重要？我在渠道中与一些人交谈时，他们说，在生物制药领域，你实际上有两种不同类型的公司。你有商业销售部门，然后你有研究部门。

So, having everything on Vault maybe doesn't really matter. My view is different. I think it matters a lot. Can you maybe just talk a little bit about that from your perspective, Peter?

因此，将所有内容放在 Vault 上可能并不重要。我的观点不同。我认为这非常重要。你可以从你的角度谈谈这个问题吗，彼得？

Peter P. Gassner -- Co-Founder and Chief Executive Officer

彼得·P·加斯纳 -- 联合创始人兼首席执行官

Yes, it's certainly new. It's not something that the industry is used to. When Veeva started many years ago, each functional area had different platforms. There wasn't even salesforce.com in your CRM area, right? We brought that platform into the commercial area.

是的，这当然是新的。这不是行业习惯的做法。当 Veeva 多年前创立时，每个功能区域都有不同的平台。甚至在你的 CRM 领域中都没有 salesforce.com，对吧？我们将这个平台引入了商业领域。

The regulatory had their own thing and quality, etc., each function. Now, what we're seeing is, OK, the R&D side, that's a lot of Vault, and we're bringing Vault to the commercial side. I think the advantages of that may not be apparent to customers because it's not something they've experienced before. I do think they're tremendously significant, yes.

监管部门有他们自己的东西，质量部门等，每个功能区域都有。现在，我们看到的是，好吧，研发方面，那里有很多 Vault，我们正在将 Vault 引入商业领域。我认为这样做的优势对客户来说可能并不明显，因为这不是他们以前经历过的。但我认为这些优势是非常重要的。

There's efficiencies in IT, that's one thing, security, vendor management, capabilities, learning, efficiencies in the system integrator network, all those types of things. But the bigger thing is it can help the customers connect commercial to clinical better. That's a CEO-level initiative at many of these companies. I think the -- having a common platform and a common data architecture will help tremendously.

在 IT 方面有效率，这是一方面，安全性，供应商管理，能力，学习，系统集成网络的效率，所有这些方面。但更重要的是，它可以帮助客户更好地将商业与临床联系起来。这是许多公司首席执行官级别的倡议。我认为拥有一个共同的平台和共同的数据架构将极大地帮助。

But that's the kind of thing that you would have to see it and experience it to believe it. That's the vision we have. I don't expect our large companies to buy in on that vision until it becomes a reality. I would say that that's first going to be experienced by smaller customers, biotechs that use Veeva in the R&D side and the clinical side.

但这是你必须亲身体验才能相信的事情。这是我们的愿景。我不指望我们的大公司在这个愿景上达成共识，直到它变成现实。我会说，这首先将由较小的客户体验到，那些在研发和临床方面使用 Veeva 的生物技术公司。

And then they go to commercialize their first product, and they see, wow, that was smooth, and that was connected because that's all on Vault. That's where it will first happen. Now, that's our vision. The main thing is you got to execute.

然后，当他们开始商业化他们的第一个产品时，他们会看到，哇，那很顺利，那很连贯，因为所有内容都在 Vault 上。这将首先发生在那里。这是我们的愿景。最重要的是你必须执行。

Everybody can have a fine plan, but can you execute it on with quality? And that's what really we're focused on. We want to help the industry. And the way to do that is through the execution, which is not easy. It takes focus.

每个人都可以有一个好计划，但你能以高质量执行吗？这才是我们真正关注的。我们希望帮助这个行业。而要做到这一点，就需要执行，这并不容易。这需要专注。

David Larsen -- Analyst

大卫·拉森 -- 分析师

Great. Thanks very much.

非常感谢。

Operator

操作员

And that concludes our question-and-answer session. I will now turn the conference back over to Peter Gassner for closing remarks.

我们的提问环节到此结束。现在我将会把会议交回给彼得·加斯纳进行结束语。

Peter P. Gassner -- Co-Founder and Chief Executive Officer

彼得·P·加斯纳 -- 联合创始人兼首席执行官

Thank you, everyone, for joining the call today, and thank you to our customers for your continued partnership and to the Veeva team for your outstanding work in the quarter. I look forward to speaking with you again at our Investor Day on November 7. Thank you.

感谢大家今天参加电话会议，感谢我们的客户继续合作，感谢 Veeva 团队在本季度的出色工作。我期待在 11 月 7 日的投资者日再次与大家交流。谢谢。

Operator

操作员

[Operator signoff]

[运营商签退]

Duration: 0 minutes

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Call participants:

通话参与者：

Gunnar Hansen -- Senior Director, Investor Relations

冈纳·汉森 -- 高级总监，投资者关系

Peter P. Gassner -- Co-Founder and Chief Executive Officer

彼得·P·加斯纳 -- 联合创始人兼首席执行官

Joe Vruwink -- Robert W. Baird and Company -- Analyst

乔·弗鲁温克 -- 罗伯特·W·贝尔德公司 -- 分析师

Paul Shawah -- Executive Vice President, Commercial Strategy

保罗·沙瓦 -- 执行副总裁，商业策略

Peter Gassner -- Co-Founder and Chief Executive Officer

彼得·加斯纳 -- 联合创始人兼首席执行官

Saket Kalia -- Analyst

萨凯特·卡利亚 -- 分析师

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉尔 -- 临时首席财务官

Kenneth Wong -- Analyst

肯尼斯·黄 -- 分析师

Tim Cabral -- Interim Chief Financial Officer

蒂姆·卡布拉尔 -- 临时首席财务官

Ken Wong -- Analyst

肯恩·黄 -- 分析师

Brian Peterson -- Analyst

布莱恩·彼得森 -- 分析师

Rishi Jaluria -- Analyst

瑞希·贾卢里亚 -- 分析师

Tyler Radke -- Citi -- Analyst

泰勒·拉德克 -- 花旗 -- 分析师

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

斯坦·贝伦斯坦 -- 富国证券 -- 分析师

Brent Bracelin -- Analyst

布伦特·布拉塞林 -- 分析师

Dylan Becker -- William Blair and Company -- Analyst

迪伦·贝克尔 -- 威廉·布莱尔公司 -- 分析师

Jack Wallace -- Analyst

杰克·华莱士 -- 分析师

Carolyn Valenti -- Goldman Sachs -- Analyst

卡罗琳·瓦伦蒂 -- 高盛 -- 分析师

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析师

Ryan MacDonald -- Analyst

瑞安·麦克唐纳 -- 分析师

Unknown speaker -- -- Analyst

未知发言人 -- -- 分析师

Jenny Cao -- Truist Securities -- Analyst

珍妮·曹 -- Truist 证券 -- 分析师

Charles Rhyee -- Analyst

查尔斯·雷伊 -- 分析师

David Larsen -- Analyst

大卫·拉森 -- 分析师

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