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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 財年第二季度財報電話會議

2024年8月28日，美東時間下午 5:00

內容:

準備聲明
問題與回答
與會者

Prepared Remarks:

準備聲明:

Operator

操作員

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.

女士們，先生們，下午好。我是 Krista，今天將擔任您的電話會議操作員。此時，我想歡迎大家參加 Veeva Systems 2025 財年第二季度業績電話會議。為防止任何背景噪音，所有線路均已靜音，演講人發表講話後，將進行問題與回答環節。

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

[操作員指示] 謝謝。現在我將把電話交給投資者關係總監 Gunnar Hansen。您可以開始了。

Gunnar Hansen -- Senior Director, Investor Relations

Gunnar Hansen -- 高級董事，投資者關係

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，歡迎參加 Veeva 截至2024年7月31日的第二季度財報電話會議。提醒一下，我們在太平洋時間下午 1 點後在 Veeva 投資者關係網站上發佈了準備聲明。希望您在電話會議前有機會閲讀。

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.

今天的電話會議將主要用於問答環節。今天與我一起參加問答環節的有首席執行官 Peter Gassner，戰略執行副總裁 Paul Shawah 和臨時首席財務官 Tim Cabral。在本次電話會議中，我們可能就趨勢、戰略以及業務預期表述前瞻性聲明，包括關於未來財務業績的指引。這些前瞻性聲明將基於我們當前的觀點和期望，並受到各種風險和不確定性的影響。

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.

我們的實際結果可能會有重大差異。請參閲我們的財報中列出的風險以及我們最近在 10-Q 表格中包含的風險因素。在通話中做出的前瞻性聲明是基於今天2024年8月28日的事實。如果在今天之後重播或查看本通話，通話中呈現的信息可能不包含當前或準確的信息。

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 不承擔更新或修訂任何前瞻性聲明的義務。我們可能會在今天的通話中討論我們的指引，但除非在公開論壇上這樣做，否則我們不會提供有關本季度業績的進一步指引或更新。在通話中，我們可能會討論一些我們認為有助於理解我們財務業績的非 GAAP 指標。可在今天的財報和補充投資者展示中找到與可比 GAAP 措施的對應關係，這兩者都可在我們的網站上找到。

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

謝謝大家的參與，現在我將把電話交給 Peter。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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.

謝謝，Gunnar，歡迎大家參加電話會議。第二季度是一個強勁的季度，業績超出我們的指引。本季度總收入為 6.76 億美元，非 GAAP 運營收入為 2.8 億美元。感謝團隊，我們在所有主要領域取得進展，實現了關鍵產品擴展和戰略客户贏得。

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.

這包括重要的 Veeva Site Connect 新版本發佈，以簡化臨牀試驗，以及 CRM 套件中 Service Center 的首次發佈。我們有明確的產品戰略，並且在實現我們的願景方面表現出色。現在我們將開放電話會議讓大家提問。

Questions & Answers:

問題與回答:

Operator

操作員

[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.

[操作員指示] 我們要求您限制提問一次，並進行一次追問。您的第一個問題來自 Robert Baird 的 Joe Vruwink。請發言。

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

Joe Vruwink -- 羅伯特·W·貝爾德公司 -- 分析師

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。我認為核心 CRM 贏得的節奏現在已經連續兩個季度加快。當然，上個季度完全是 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?

回顧過去，我認為您現在每季度贏得的 CRM 比遷移 CRM 到 Vault 之前甚至更多。顯然，客户對做出這一承諾感到滿意。我想問的是，除了與應用程序集相關的舒適感，因為這是 Veeva 並且這是一個經過驗證的解決方案，產品路線圖可能會對決策產生多大影響？此外，當您考慮客户在採用跨三個領域的完整套件時可能擁有的願景時，您認為這對中小企業客户或企業客户更具吸引力？

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商業戰略執行副總裁

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

嘿，Joe，我是 Paul。感謝您的提問。您説得對，我們又度過了一個非常強勁的季度。

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.

我們 -- 我們的 Vault CRM 在 4 月份正式推出。這是我們專門向市場銷售的產品。在本季度，我們贏得了 14 個項目。我認為我們幾乎贏得了每一個 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.

當然，您永遠不知道是否贏得了所有交易，但我們確實感覺自己贏得了所有交易。我們知道我們沒有輸給我們正在競爭的競爭對手的任何交易。所以，我們對我們在那裏的執行感到非常滿意。關於更廣泛願景的問題，Service Center，Campaign Manager，它絕對是整體願景和方向的持續部分。

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.

我認為那些早期客户，是的，他們希望得到一些他們知道會在今天為他們工作併為他們提供的東西。這通常是他們作為公司最重要的時刻。他們正在為他們的發佈做準備並實際發佈他們的藥物。但他們也希望得到一些可以與我們一起發展的東西。

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.

服務中心和活動經理，我們以一種非常不同的方式進行，採用了一種非常簡單的技術堆棧，更高效地將銷售、營銷、醫療和服務整合到同一平台上。因此，這一願景肯定在其中起到了重要作用。而且我們的執行效果很好。無論是從產品角度還是從遷移角度來看，我們都執行得很好。

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

客户們注意到了這一點。所以，是的，我對我們的進展感到滿意。

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

Joe Vruwink -- 羅伯特·W·貝爾德公司 -- 分析師

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。聽到這個消息很棒。我想問一下，由於研發峯會即將到來，這一季度客户顯然一直在研究他們在人工智能方面的前進道路，甚至取得了良好的進展，包括核心系統的勝利。但您也提到了圍繞新的大數據 API 的採用。

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?

我想知道峯會是否可能作為一個論壇，您是否期待會有更多明確的信息出現，就客户如何對待研發而言？或者這實際上可能是一個事件，因為 Veeva 可以解答問題、幫助教育，顯然，客户們將互相交流，也許這會提供更多關於年底決策以及您對財年'26 年在研發方面的預期的可見性？

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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，我來回答這個問題。這是 Peter。我對我們的峯會總是有一個類似於給你提速的視覺。

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.

就像你騎自行車，你爸爸給你一個加速。他們推動你向前，讓你更快。就像這樣，因為我們的客户與我們的客户交談，我們學習。我們與客户交談，我們學習，我們不斷完善。

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，我認為你需要這樣考慮。現在，這涉及到各種事情，如何安排 Veeva 應用的順序，如何最好地使用 Veeva 應用，什麼新的 Veeva 應用，如何利用 Veeva 數據的人工智能。因此，這次研發峯會並沒有什麼特別之處。只是因為我們比以往任何時候都更大，所以它可能會比以往任何時候都更有影響力。

Operator

運營商

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

下一個問題來自巴克萊的 Saket Kalia。請發言。

Saket Kalia -- Analyst

Saket Kalia -- 分析師

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

好的。嘿，夥計們。感謝您回答我的問題。

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.

季度表現不錯。Peter，也許我們可以先談談 Vault CDMS 的最新情況。也許可以談談一下那些已經採用該工具的前 20 家制藥公司的情況，也許我們可以談談在繼續在這一市場上獲得份額增長的前景。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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.

很好的問題。採用情況進展順利。這正是我們真正關注的。當我們向一家大型前 20 家公司銷售 CDMS 時，他們有一個固定的採用進度表，一個基於時間而不是基於實際採用速度的固定費用進度表。

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，當我們安排這一點時，我們總是希望他們在達到完全財務增長之前就能完全採用。這是我們認為公平和良好的。這對客户來説是一個勝利，而我們始終着眼於長遠。我們真的不是為了短期利益。

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，採用情況良好。我想説的是，價值實現相當不錯。我認為在一些領域的表現比預期好。網站體驗很好。

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.

網站沒有負面反饋。事實上，使用我們系統的網站用户界面得到了相當積極的反饋。對於贊助商來説，在更快地構建研究、減少定製編程、減少錯誤方面的反饋非常好。然後在數據清洗方面，當人們使用我們的 CDB 產品、我們的臨牀數據庫產品與我們的 EDC 一起使用時，數據清洗方面有顯著的成本節約。

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.

這是大多數大客户一起使用這些產品的情況。因此，他們實際上能夠通過我們 CDB 產品的數據科學能力減少手動工作。他們發現我們的 CDB 產品自動發現數據異常，將該查詢發送給網站，網站可能會回覆。CDB 會自動關閉這個問題，而不需要人為干預。

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，情況進展順利。我認為我們將繼續獲得市場份額。我們在前 20 家企業中的潛在客户非常健康。有許多公司正在與我們交談。

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.

您永遠不知道他們何時會做出決定，因為這取決於他們的業務優先事項以及其他正在進行的工作。他們一次只能做出有限的戰略變化。我想説我們希望在臨牀研究機構方面取得更多進展。

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.

尤其是在大型臨牀研究機構方面，目前還沒有達到我們希望的水平，但隨着時間的推移，我們會實現目標。我想最後説的是，我認為我們有一個結構性優勢，人們有時會忽視，當我們擁有像 EDC 這樣的臨牀數據管理產品以及像 CTMS 和 eTMF 這樣的臨牀運營產品時。

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

這意味着 Veeva 可以處理那些複雜的集成工作。相信我，沒有客户真的想要做那些工作。

Saket Kalia -- Analyst

Saket Kalia -- 分析師

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.

這聽起來很不錯。很高興聽到。Tim，也許我可以跟進一下，對於您來説。看到商業訂閲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?

您能否簡要談一下也許我們所稱的商業非 CRM 部分的規模和增長情況？基本上，那些與 Veeva CRM 無關的業務。這樣説是否合適？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

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，確實是這樣。就整體商業業務而言，CRM 套件可能佔其中的 50%。而非 CRM 部分，Saket，用你的話來説，佔另外的 50%。正如你在通話中聽到保羅回答第一個問題時所説的，業務的 CRM 套件部分表現相當不錯，你可以想象非 CRM 部分的增長速度遠遠快於核心 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，我們對商業業務的表現感到非常滿意，並對我們在創新和客户成功方面持續取得的進展感到滿意。

Saket Kalia -- Analyst

Saket Kalia -- 分析師

Very helpful. Thanks, guys.

非常有幫助。謝謝，各位。

Operator

運營商

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

下一個問題來自 Oppenheimer 的 Ken Wong。請發言。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析師

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。對於你，Tim，我的第一個問題。我意識到需求趨勢並不總是像我們投資者喜歡的那樣線性。

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?

你能幫助我們思考一下研發訂閲線的情況嗎？你們在一個季度前削減了它。現在又增加了。相對於三個月前有什麼變化讓你們對此有了新的信心？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

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，我們現在是在一年後的 90 天。正如你可以想象的，我們對下半年的銷售情況有了更好的可見性。

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.

我們上一季度談到的是一些特定的較大交易，我們正在將它們推遲。我認為今天，我們繼續與這些客户建立非常富有成效的對話。我們繼續與這些客户進行銷售週期。今天，我們比 90 天前有了更好的可見性，Ken，這為今年研發訂閲收入的適度增加提供了信息或是一個良好的輸入。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析師

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。然後 Peter 或 Paul，再回到 Vault CRM 的成功案例，再次獲得 14 個客户，這是一個了不起的成果。你們還提到了 Vault CRM 在第四季度的下一個版本以及遷移時間表。

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?

有沒有理由認為 Vault CRM 的下一個版本會對部署時間表產生影響？簡而言之，如果延遲發佈，是否會影響客户開始遷移的時間？

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商業戰略執行副總裁

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，我們對下一個版本感到興奮，因為它讓我們達到了我們所説的完整功能，甚至更多。因此，我們將擁有我們在 Veeva CRM 中提供的所有內容，以及 Vault CRM 將具有的一些獨特於 Vault CRM 的附加功能，比如更好的內容集成，像內置的機會管理。

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.

我們將擁有許多新功能。Vault CRM 和 Veeva CRM 之間的差距將隨着路線圖的推出而繼續增加。現在，這不會 -- 不應該對客户如何考慮他們的遷移時間表產生任何影響。事實上，如果有的話，它將為我們創造一些機會，因為客户看到 Vault CRM 上的所有創新。

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.

他們會希望更快地轉向 Vault CRM。但我認為 -- 他們是客户，他們會按照自己的流程進行。因此，他們非常慎重地考慮他們希望進行遷移的時間。我們希望他們按照適合他們的時間進行操作，並且為 Vault 添加創新肯定會有所幫助。

Kenneth Wong -- Analyst

Kenneth Wong -- 分析師

Got it. Thanks for the insight, guys.

明白了。謝謝你們的見解。

Operator

運營商

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

下一個問題來自 Raymond James 的 Brian Peterson。請發言。

Brian Peterson -- Analyst

Brian Peterson -- 分析師

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.

謝謝，各位，恭喜本季度。我只問一個問題。顯然，看到服務中心的推出是件好事。我知道現在還處於早期階段，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.

你如何定義在那個市場上的成功？在我們考慮未來幾年的收入貢獻時，有沒有辦法將這種貢獻與你們手頭的其他事情進行排名？謝謝，各位。

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商業戰略執行副總裁

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，感謝你的問題，我們對這個發佈感到興奮。它現在已經普遍可用，這是我們去年宣佈的一件事，我們在速度上執行得非常好。我為產品團隊能夠交付這一點感到自豪。這對我們來説是一個新產品，就像我們宣佈的 Campaign Manager 和 Patient 一樣。

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.

我們在這三個產品上都表現出色。Campaign Manager 計劃在年底推出。我不會逐個產品地考慮規模。但如果你將它們三個結合起來，服務中心、Campaign Manager 和 Patient CRM，這是我們自 Vault CRM 以來宣佈的三個新產品。

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.

我認為它的規模大致與核心 CRM 相同，這個機會肯定會逐漸顯現。顯然，客户必須使用 Vault CRM 才能利用這些新產品。但隨着客户轉向 Vault CRM，他們將有機會利用我們的新創新。

Brian Peterson -- Analyst

Brian Peterson -- 分析師

All right. Thanks, Paul.

好的。謝謝，Paul。

Operator

運營商

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

下一個問題來自 RBC Capital Markets 的 Rishi Jaluria。請發言。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析師

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。非常感謝你們回答我的問題。我有兩個問題。首先，Peter，在你的開場白中，你談到了 AI 夥伴計劃的一些早期進展。

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.

你可以談談到目前為止你看到的一些用例是什麼嗎？從哲學上講，當你看到一些這些用例被建立起來，甚至開始看到一些早期採用時，是否會有一個階段，這可能會影響你自己的內部路線圖，並且你是否有靈活性加快整合 gen AI 到平台的計劃？然後我有一個簡短的後續問題。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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.

謝謝，Rishi。商業領域的用例類型通常涉及數據科學。因此，諸如下一個最佳行動、動態定位、電話前規劃等內容。而在研發方面，可能涉及更多文檔生成、生成臨牀研究報告，或者進行特定的醫學編碼等內容。

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，這些就是使用案例的類型。這就是問題所在。當你像直接數據 API 這樣製作 API 時，你並不知道你所釋放的創新。這正是重點，因為數據可以被如此快速和事務性地準確消耗，以前不切實際的用例現在可以變得切實可行。

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，如果我回顧設計 salesforce.com API 的初衷，我知道它將釋放許多創新，而你根本不知道。這是不可預測的，而這正是好事。現在，就我們監控和通知我們自己的路線圖而言，我想可能會有一些。但大多數情況下，這種創新實際上來自於我們與客户內部思考的結果。

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.

我們真的不想打擾我們的合作伙伴，尤其是當合作夥伴取得客户成功時。如果有一個我們非常清楚客户需要的重要用例，但由於某種原因生態系統無法實現客户成功，是的，也許我們會介入。但我猜想我們所做的可能更加全面，我想，在某種意義上並不是特別是合作伙伴會處理的事情，因為我們通常會擁有更多資源和更多影響我們自己路線圖的能力，我們希望尊重生態系統。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析師

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

是的。明白了。謝謝。這真的很有幫助。

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.

然後，就這裏的一些相關性而言，我們談到了服務中心或者活動管理器，我知道這些產品將在今年晚些時候推出。你已經看到了一些早期的跡象和早期的興趣。也許你可以幫助我們理解，首先，關於服務中心早期取得的一些成功，這通常是一個全新的市場嗎？這是替代嗎？我們應該如何考慮這些產品相對於現有供應商的優勢？謝謝。

Paul Shawah -- Executive Vice President, Commercial Strategy

Paul Shawah -- 商業戰略執行副總裁

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。當然，要求是必須擁有 Vault CRM，大多數將開始使用 Vault CRM 的客户都是全新客户。這些通常是前商業化的，或者可能已經有一個產品在市場上。它們是一家較小的公司，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，我們預計這些將是最早啓用服務中心的公司之一。他們將是我們最早的採用者之一，也是在接下來的一到兩年內利用的公司之一。但服務中心和活動管理器同樣適用，併為企業和大客户創造價值。隨着我們不斷完善產品，這將隨着時間的推移逐漸顯現，但從一開始它們基本上就具有明顯的優勢，即它們內置於 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，發生的一切都發生在單個客户記錄的基礎上，這意味着團隊中的每個人都是關於創造客户中心的。每個接觸到該客户的人都有完全相同的客户視圖。他們可以共享信息。他們共享相同的同意。

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.

他們共享相同的內容。他們共享相同的合規規則。這消除了許多數據傳遞、集成和複雜性。這是一個更簡單的技術堆棧。

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.

而且在創造協作和客户中心方面更有價值。因此，我們預計這些產品的接受程度將從中小型企業開始，但肯定會繼續提供給我們的大客户。現在，你問到獨立使用的情況。很可能這些產品將與 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.

不太可能有人單獨實施服務中心，例如，或者活動管理器。這些將被視為 Vault CRM 實施的重要附加組件。

Rishi Jaluria -- Analyst

Rishi Jaluria -- 分析師

Thank you.

謝謝。

Operator

運營商

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

下一個問題來自花旗的 Tyler Radke。請開始。

Tyler Radke -- Citi -- Analyst

Tyler Radke -- 花旗 -- 分析師

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。謝謝。Peter，看到這裏的提升令人鼓舞，尤其是儘管一些服務方面存在弱點。我想知道您是否將您在新預訂中看到的一些強勁表現歸因於環境略有好轉。

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.

我知道上個季度，您提到了一些阻力，但我沒有看到太多關於宏觀經濟方面的內容。而且生命科學領域一些上市同行的結果可能表明我們可能正在走出低谷。因此，我只是想知道您是否看到了任何項目加速，任何讓您對下半年整體環境更加樂觀的因素。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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。我認為從我所看到的情況來看，宏觀環境與 90 天前基本沒有變化。我們仍然有一些正在進行的事情。因此，良好的表現與強大的執行力有關。

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.

我們在這個季度表現非常出色。此外，我們可能有一些好運氣，沒有遇到壞運氣，我認為有些季度就是這樣。但總體而言，這是強大的執行力，我看不到宏觀環境發生任何變化。

Tyler Radke -- Citi -- Analyst

Tyler Radke -- 花旗 -- 分析師

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。這很有幫助。也許對於 Tim 的一個後續問題。當我看着指南中的變動部分時，您能否簡要介紹一下服務部分？然後當我考慮指南主要來自商業方面時，您在本季度提到的新 CRM 獲勝是商業提升的最大驅動因素嗎？還是組合中的其他部分表現優於商業方面？謝謝。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

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。關於服務方面，一些與上季度討論過的相同動態在這裏也有所體現，意味着在時間角度上出現了一些服務項目的延遲。另一個我們觀察到的新動態是，有一些客户（其中一個相當大），他們決定不再與第三方系統集成商簽約，而是直接與客户或第三方合作。

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，雖然這減少了我們的收入機會，但這確實支持了我們對服務業務的思考和優化方向，即真正關注客户的成功。正如我們過去所討論的，客户會做出這些邊際決策，我們不會試圖反對這些決定。這是關於客户的成功，讓我們的客户能夠邁向最佳創新，真正實現我們的產品所提供的客户成功和價值。所以，我認為這些是影響服務部分的一些因素。

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.

在商業方面，Q2 的表現超出預期，我想説增加的指引與此相同。儘管我們在核心 CRM 部分持續看到勢頭和進展，Tyler，當然，表現超出預期和增加指引的原因實際上是我們商業內容領域和 Crossix 領域的表現。因此，這兩個領域真正推動了過去這一週期中更大的指引。

Tyler Radke -- Citi -- Analyst

Tyler Radke - 花旗銀行 - 分析師

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

謝謝你的解釋。Tim，希望我們能繼續未來的合作。謝謝。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral - 臨時首席財務官

Thanks, Tyler.

謝謝，Tyler。

Operator

運營商

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

下一個問題來自 Wells Fargo Securities 的 Stan Berenshteyn。請繼續。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富國證券 - 分析師

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。感謝您回答我的問題。在準備好的講話中，您提到了一項前 20 大生物製藥公司的研發勝利，我想，標準化了 RIM 和 CTMS。您能否詳細介紹一下這筆交易在管道中花了多長時間？也許一般來説，您的管道中還有其他大型製藥公司尋求將多個 Vault 產品套件標準化的活動有多活躍？謝謝。

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

Peter P. Gassner - 聯合創始人兼首席執行官

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，我來回答這個問題。我記得大約六年前，七年前，我就開始參與與該客户的討論、信息交流和關係建立等工作。然後它變得更加活躍，是的，大約一年前，我們真的開始認真考慮一些事情，開始共享信息。所以，這就是這類事情的時間框架。

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，有多個機會。例如，在安全方面，有非常新的產品套件。在質量方面，有更多產品。在臨牀方面，我們增加了產品。

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.

在監管方面，有些還沒有使用我們的產品。因此，在各個階段都有許多這樣的機會。所以，你想想前 20 名和五個不同的主要機會，總共可能有 100 個機會，對吧？因此，我們在任何給定時間內肯定有超過 10 個活躍的事項。這是思考方式，因為在這些前 20 名中有多個機會，而不僅僅是一個機會。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富國證券 - 分析師

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.

有幫助。關於您看到的 Crossix 實力，也許有什麼與選舉週期有關的值得注意的地方嗎？或者客户是否更多地依賴全渠道營銷，您可能正在受益於此？我只是想知道您是否從選舉週期中看到任何額外的增量。謝謝。

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

Peter P. Gassner - 聯合創始人兼首席執行官

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，我不會説這是季節性的。我認為這只是增加的市場領導地位。我們已經提供了質量產品一段時間了。那裏有一些進出的競爭對手，並且其中一些並沒有取得很好的投資回報率。

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，我認為客户現在開始迴歸一些質量。此外，我們在 Crossix 有兩個業務。一個是測量和優化媒體廣告活動。另一個是數字受眾，客户正在使用我們的受眾，我們的消費者受眾，進行他們的營銷活動。

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.

在過去一年中，我們對受眾業務進行了更多關注，這些成果正在取得回報。因此，這並不是任何週期性因素真正的驅動因素。

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

Stan Berenshteyn - 富國證券 - 分析師

Awesome. Thank you.

太棒了。謝謝。

Operator

運營商

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

下一個問題來自 Piper Sandler 的 Brent Bracelin。請繼續。

Brent Bracelin -- Analyst

Brent Bracelin - 分析師

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。關於前 20 名交易活動的一個問題，以及利潤率的跟進。Peter，我明白這一季度更強的執行力和一點運氣幫助了您。但我只是好奇，是什麼推動了前 20 名的勝利？看起來您在安全、質量、Link Key People 和研發方面都有所收穫，這似乎與上季度有所不同。

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.

只是好奇是否是供應商整合在市場上產生共鳴。您能指出為什麼這些交易在本季度關閉的額外細節將非常有幫助。然後是一個快速的跟進問題給 Tim。

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

Peter P. Gassner - 聯合創始人兼首席執行官

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，我會説這只是時間問題。除此之外沒有其他原因，只是時間。因為如果你退後一步看，Veeva 正在做什麼，我們真的是在開發雲領域，特別是在那裏建立一個非常持久的業務。我們有一個結構性優勢，我們在不同領域擁有所有這些產品，這些產品相互配合，並且客户在這些產品上取得了很高的成功，並且客户實際上從這些產品中獲得了很多投資回報。

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.

我們是唯一一家在做這件事的公司。所以，吸引客户來找我們的驅動力就是投資回報率。他們可以變得更有效率，這正是他們所努力的。但他們一次只能處理有限數量的事情和變化。

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，並不是所有的變化都會同時發生。我們正在建立這個長期的特許經營權，可以這樣理解，這些非常耐用的軟件產品對客户來説有些難以消化，因為他們必須改變他們的流程。但同時，這些產品也非常粘性。它們不會被替代。

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.

這就是我們正在構建的東西。我們通常不會輸給競爭對手。我們可能輸在無所作為上。客户可能會説，嘿，我不會把這個特定領域作為優先事項。

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

我想把我的變化優先放在另一個領域。但我們通常不會輸給其他供應商。

Brent Bracelin -- Analyst

Brent Bracelin -- 分析師

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.

這裏提供了有益的信息。然後，Tim，關於利潤率的跟進，我認為運營利潤率是三年來最高的。看到它再次超過 40% 真是太好了。看起來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.

您能談談是什麼推動了這一點嗎？這只是產品結構的變化嗎？我們應該如何看待未來？謝謝。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

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，感謝您的提問。是的，在毛利率方面，我認為這是產品結構變化的結合，所以訂閲收入比服務收入更多，非 Veeva CRM 收入比我們不向 Salesforce 支付版税的所有其他產品更多。所以，這兩種產品結構的變化都對改善毛利率起到作用。還有一點，雖然服務收入符合指導，但利潤表現非常出色。

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，服務團隊繼續以非常高效的方式提供價值。我認為這可能是您考慮我們整體公司的方式，Brent。我認為我們為客户提供了巨大的價值。Peter 和領導團隊在這方面非常高效。

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

您可以從我們的運營利潤的結果中看到這一點。

Brent Bracelin -- Analyst

Brent Bracelin -- 分析師

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

這很合理。很高興看到。謝謝，各位。

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

Thanks, Brent.

謝謝，Brent。

Operator

運營人員

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

下一個問題來自 William Blair 的 Dylan Becker。請發言。

Dylan Becker -- William Blair and Company -- Analyst

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

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。也許 Peter，我們從您開始。您在準備好的講話中提到了 Site Connect。所以，想知道我們是否可以更多地瞭解一下臨牀產品的擴展背景。

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?

我們過去已經談論過其他渠道，如 ePRO，eCOA，招募，現有工具組合中還有很長的發展空間。但我們應該如何考慮在臨牀早期階段的解決方案？

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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，我將專門談一下 Site Connect，因為它是 Veeva 的關鍵產品，非常創新。Site Connect 被全球臨牀研究機構使用。隨着我們的 Site Connect 新版本的推出，所有機構都可以輕鬆使用它，無需在他們這邊安裝任何專門的軟件。

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.

我們增加了一系列機構功能，所以我認為機構們會非常喜歡。在某種程度上，機構是贊助商的客户，對各個機構的效率贊助商必須關心。現在，對於 Site Connect，它也提高了贊助商的效率，例如文件交換和所有不同的用例，安全信函分發等。因此，Site Connect 有一個網絡效應。

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.

它實際上對機構有很大幫助，也對贊助商的效率有很大幫助。因此，這種網絡效應將開始發揮作用。我認為它有時會帶動 Veeva 的其他臨牀產品。這就是關於 Site Connect 的內容。

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

您還有一個跟進問題，我記不清了。

Dylan Becker -- William Blair and Company -- Analyst

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

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，只是關於臨牀中其他早期解決方案的問題。但我認為是的，Site Connect 部分已經涵蓋了。主要是關於 ePRO，eCOA，我們在臨牀中談論過的所有其他領域，如招募，RTSM 等。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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。它們在發展週期的早期階段，對 RTSM 感到非常興奮。我認為我們在那裏真的有一個世界領先的解決方案，特別是當我們將其與我們的臨牀運營套件集成時。我認為在未來五年內，我們有計劃可以真正改變 RTSM 的遊戲規則，成為明顯的領導者，並鼓勵客户，特別是大客户，選擇 Veeva 的企業標準來提高效率，並在每個試驗中使用它。

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.

這就是我們對 RTSM 有多有信心。ePRO 還處於早期階段。ePRO，eCOA 還處於早期階段。根據治療領域的不同，有很多具體的用例。

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，這是我們的第一批客户。其中一些是中型公司，與中型公司簽訂的企業許可協議。我們只需推動我們的產品前進，改進我們的產品和流程。我認為隨着時間的推移，我們在 ePRO 和 eCOA 方面會做得很好。

That one will just take time.

這需要時間。

Dylan Becker -- William Blair and Company -- Analyst

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

OK, great. Thanks, Peter.

好的，非常感謝，Peter。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

Thank you.

謝謝。

Operator

運營人員

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

下一個問題來自 Guggenheim Securities 的 Jack Wallace。請發言。

Jack Wallace -- Analyst

Jack Wallace -- 分析師

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，感謝您回答我的問題，並祝賀您取得了強勁的季度業績和展望。彼得和保羅，我想問一下關於遷移對話的進展如何。看起來您有一家競爭對手在提及某種帶走。但聽起來您幾乎贏得了每一筆新的 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.

我想問一下，一是您與最大客户的對話進展如何，以及他們的時間表如何？二是，您是否聽到來自其他競爭對手關於他們認為將通過某種基於人工智能的功能來吸引一些客户的消息？謝謝。

Paul Shawah -- Executive Vice President, Commercial Strategy

保羅·沙瓦 - 執行副總裁，商業戰略

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，傑克，我將從遷移開始。因此，遷移對話仍在繼續很順利地進行。我可以説這是跨企業和中小企業的。

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.

我們正在廣泛地與我們的客户羣進行這些討論。每位客户肯定會根據自己的時間表做出決定，決定何時遷移到 Vault CRM，但討論進行得很順利。我想説，我預計在未來 12 個月內會有額外的前 20 承諾。因此，我認為我們的執行非常出色。

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.

我們沒有做任何過分的事情來強迫決策時間表。我們希望客户在準備好並且適合他們的時候做出決定。但正如我所説，我只是預計在未來 12 個月會有一些額外的承諾。這就是遷移的進行情況。

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.

您可以看到我們在這方面的執行情況良好。我們計劃在今年第四季度與一些小客户進行首次遷移，同時也計劃從明年開始進行一些較大規模的遷移。我想您的第二個問題是關於競爭，競爭空間中發生了什麼，與人工智能有關。我認為可能有機會稍微退後一步，看看從競爭格局的角度發生了什麼。

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.

您提到了競爭帶走。我們確實聽説過這個。但很明顯，我們的主要競爭對手是 Salesforce，對吧？我們曾與 IQVIA 競爭。 IQVIA，他們的產品 OCE 在市場上表現不佳。

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.

他們出售並將權利許可回給 Salesforce，因此我們不再將他們視為競爭對手。結果 Salesforce 將在該產品基礎上進行擴展。因此，IQVIA，我確實聽到他們提到了競爭帶走。您必須直接問他們那是什麼。

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.

我們不清楚他們指的是什麼。因此，我認為 Salesforce 是主要競爭對手。他們經常談論人工智能。他們談論他們將在明年年底推出產品的第一個版本。

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.

顯然，對他們來説這是一個不同的動作，對吧？這是在做一些非常深入和行業特定的事情，因此尚不清楚實際會發生什麼。但當然，人工智能在銷售中起着重要作用。就我們的位置而言，我認為我們的競爭地位在不斷提高。

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.

您可以從結果中看到這一點。但我認為我們有結構性優勢。彼得談到了在臨牀領域的優勢。我認為我們在商業和 CRM 領域也有這種結構性優勢，原因有很多。首先是執行。

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.

我們的產品已經在市場上可用。我們有 15 個客户正在使用。到明年底，我們的前 20 家制藥客户將在 50 多個國家進行遷移。這真的非常困難。

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夠做到這一點。Salesforce 可能需要兩三年，甚至四年才能做到這一點。即使他們最終能夠做到，我們知道 IQVIA 無法做到。因此，擁有可用產品並持續執行，這是一個巨大的優勢。

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.

當然，我們的客户關係，我們與這些客户合作併為他們提供服務已經有五年、十年甚至十五年的歷史。當然，還有我們的願景。我們正在構建一個商業雲，一個行業雲，這與市場上任何其他公司所做的都非常不同。因此，我給了您一個很長的答案，但我想給您一些背景。

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.

競爭地位正在發揮作用，這就是為什麼我們如此專注於執行。我們有正確的產品戰略。我們將繼續專注於執行。我認為基於此，我們將創造一個穩固的業務，並且在服務、營銷和患者等領域的一些新產品中創造增長機會。

Jack Wallace -- Analyst

傑克·華萊士 - 分析師

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.

謝謝，保羅。非常感謝。如果我可以在 Compass 上再問一個問題，Prescriber 和 National 推出已經八個月了。只是想知道與客户在高層次上的對話進展如何。

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.

如果您的一些較大客户已經認為這些數據達到了補償標準。如果還沒有，那麼在這一點上，確定這一決定的時間表會是什麼樣子？謝謝。

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

彼得·P·加斯納 - 聯合創始人兼首席執行官

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 取得了良好的進展，主要是在患者領域的銷售和我們正在添加的新品牌。在 Prescriber 和 National 預測產品中，目前正在進行更多的教育，偶爾也有一些銷售活動，但準備工作很多。我們目前還沒有任何人將其用於補償。

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.

我預計明年會發生這種情況。重要的是要記住，特別是對於 Compass，特別是 Prescriber 和 National，我們採取了一種新的方法，一種根本不同的數據方法。我們不僅預測零售數據，還預測專業數據，不僅預測零售處方，還預測通過專業藥房提供的複雜療法。因此，我們為大約 4,000 個品牌進行預測。

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.

這是完全新的東西，人們在將其用於補償之前必須先適應。對於補償，一般來説，人們通常會在年度基礎上進行考量，對吧？他們不會在年中進行切換，所以我們將看到 Prescriber 和 National 的表現如何。從長期來看，我非常樂觀。但是，這並不完全是珠穆朗瑪峯，這是一個艱鉅的攀登。這需要時間。

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

珠穆朗瑪峯，這是一個艱鉅的攀登。這需要時間。

Jack Wallace -- Analyst

傑克·華萊士 -- 分析師

Got it. Thank you so much. Congrats again.

明白了。非常感謝。再次祝賀。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

Thank you.

謝謝。

Operator

運營商

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

下一個問題來自高盛的卡莉·瓦倫蒂。請發言。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡羅琳·瓦倫蒂 -- 高盛分析師

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。感謝回答我的問題，對本季度的表現表示祝賀。我想先從一個更高層次的問題開始。當您看待當前可尋址市場時，您認為哪種產品套件在未來繼續開發功能方面具有最大機會？這更多地是研發方面的業務還是商業方面的？有沒有特定的產品您想要提及？

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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，我想説研發和商業兩方面都有多個領域可以發展。它們都擁有一些非常新的產品，比如 Campaign Manager、Service Center。然後在 Compass 方面，我們剛剛談到了 Compass Prescriber。在 Safety Suite 中，我們有 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.

如果您看我們的總地址 able 市場，我們的 200 億美元地址 able 市場中，大約有 35% 最大的領域是商業和臨牀，商業和臨牀各約佔 35%，然後我們有質量，這是另一個重要領域。我們有 LIMS 即將推出。我們有批釋放。然後再之後是監管和安全。

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.

我想這樣去思考。我不會説有一個主導領域，最大的兩個領域是臨牀和商業，它們都擁有新產品和成熟產品的組合。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡羅琳·瓦倫蒂 -- 高盛分析師

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，這很有道理。謝謝。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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。如果您看我們的工作，您提到了科學。這是真正的生物學工作。我們正在更多地瞭解人體的運作方式，我們如何治療未滿足的需求。

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.

現在有很多需求目前尚未得到滿足，科學正在不斷進步。現在，就 Veeva 的所做的事情而言，我們通常不涉及到科學的那個層面。我們設計我們的解決方案來處理各種類型的臨牀試驗，生產各種類型的藥物，對各種類型的產品進行銷售和營銷。因此，我們通常不會受到科學的具體影響，因為我們在其中建立了靈活性。

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.

現在，科學的進步對整體的 Veeva 是有益的，因為這有助於生命科學行業增長，為更多患者提供更多藥物，創造更多價值，因此對自動化的需求也更大。

Carolyn Valenti -- Goldman Sachs -- Analyst

卡羅琳·瓦倫蒂 -- 高盛分析師

Great. Thank you.

好的。謝謝。

Operator

運營商

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

下一個問題來自摩根士丹利的克雷格·赫滕巴赫。請發言。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析師

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?

謝謝。我想談一下資本配置。隨着您的現金餘額不斷增加，對於戰略和將這些資金投入運作的機會是否有任何更新？

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉爾 -- 臨時首席財務官

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，感謝您的問題。這裏是蒂姆。對此沒有更新。您過去聽到我們談論的重點主要是為潛在併購保留乾粉。

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

所以，對於您過去聽到我們談論的內容沒有任何變化。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析師

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。然後作為我的跟進問題，只是涉及人員編制，同比增長 1%。我相信其中一些只是對服務方面的一些薄弱反應。但更廣泛地説，您如何看待人員編制，以及未來的發展？

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉爾 -- 臨時首席財務官

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，當我們展望未來時，正如今天在通話中您聽到彼得和保羅談到的，我們面臨着巨大的機遇。我們繼續尋找適當的投資水平，這將包括增加團隊。我認為您在過去一年中所看到的是，雖然我們一直在增加，但我們也一直在努力推動並獲得更多效率。

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.

我認為您在服務方面提到的效率可能是我們看到的效率最高的領域。我之前在該業務的毛利表現中提到過，您可以看到這一結果。因此，我認為我們面臨着一個巨大的機遇，我們將投資於此。但與此同時，我們也非常注重團隊的效率，我們希望作為一個組織保持適當的精益。

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析師

That's helpful. Thanks.

這很有幫助。謝謝。

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉爾 -- 臨時首席財務官

Sure.

當然。

Operator

運營商

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

下一個問題來自尼德姆和公司的瑞安·麥克唐納。請發言。

Ryan MacDonald -- Analyst

瑞安·麥克唐納 -- 分析師

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。感謝回答我的問題，對一個出色的季度表示祝賀。彼得，我想談一下安全性。顯然，在那方面一直取得不錯的成功。

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?

但正如在準備好的講話中提到的，這是一個與客户抗拒變化的複雜領域。只是好奇的是，在與那些潛在客户繼續進行安全對話時，我們是否應該尋找一些重要突破，以幫助推動這種現代化安全轉移到雲端而不是市場上的現場安全？當您考慮未來 12 至 24 個月時，您是否認為有某種催化劑可以解鎖這一機會，或者加速創新浪潮？

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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.

我確實預計會有一個催化劑。關於催化劑的事情，我們無法預測何時或什麼。但我確實認為會有一個催化劑。我們有一個明確的產品戰略，一個雲端的安全套件，這確實有很多創新，並且有一些客户已經使用並且很滿意一段時間了。

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.

主要有兩家傳統供應商。可能還有一些較小的供應商，但主要是兩家傳統供應商。我們不知道這些傳統供應商會做什麼。我們不知道其中一家是否存在問題，這種情況開始傳開，他們開始出現問題，變得不可持續。

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，這將加速轉向 Veeva，因為 Veeva 相對穩定。我們不會變動。那個解決方案將是很好的。我想説，另一個加速因素是隨着我們的 EDC 產品獲得更多認可，我們的客户開始將我們的 EDC 產品與我們的安全產品連接起來，這將帶來顯著的節省，顯著的節省。

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.

當連接完成時，人們可以被重新分配做其他事情，因此那將被注意到。隨着時間的推移，也可能會發生某種突破。請記住，這個安全是建立在 Vault 平台上的。因此，它具有 Vault 平台的完全靈活性，包括直接數據 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.

那麼，在這個直接數據 API 上可以做什麼類型的人工智能呢？有什麼類型的人工智能？那將與傳統的不同，這可能導致某種轉折點。我相信我們的安全策略非常好，因為我們知道我們在做什麼，我們在不斷前進。有兩家傳統供應商在某個時候將無法繼續前進，我們具有結構性優勢。我只是不知道這將何時開始發生。

Ryan MacDonald -- Analyst

Ryan MacDonald -- 分析師

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，非常有幫助的見解。謝謝。也許作為一個後續問題，我只想簡單談一下 Vault Basics。我知道在您的業務中，它是一個較小的領域，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.

但顯然，在過去 12 個月中，它在早期生物技術領域更加波動。我只是好奇，如果您考慮到這裏的一些早期成功，或者 Vault Basics 給您帶來的動力，是否可以將這個早期階段的部分轉變為未來幾年 Veeva 的增長引擎。謝謝。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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

是的。我喜歡 Vault Basics。讓我們明確這一點。我喜歡它，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.

其中一個原因是我們只是大約一年前開始。天啊，我們在那裏真的做了一些重大創新。我們已經有 12 個客户在使用。有更多的客户簽約。

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.

這顯示了 Veeva 的速度。即使在我們這樣的規模下，我們也可以行動起來，讓優秀的人才投入其中，他們做了很多偉大的事情。有趣的是，那裏大約 80% 的機會是以前對 Veeva 不可用的機會，以前是不可用的，因為他們沒有能力進入完整的開發雲。因此，他們會繼續使用紙張、電子表格、協作軟件、共享驅動器等。

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，我們正在接觸更多的市場。現在，這個市場可能您認為不是很大。我認為它在 1 億美元左右。大致在這個範圍內。

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.

但這是一個良好的收入，對於那些客户來説也是成功的。但它所做的另一件事是真正教會了 Veeva 如何簡化，如何更高效地完成更多工作，如何幫助行業標準化。這將幫助我們的企業，甚至是 G17 業務隨着時間的推移。因此，Vault Basics 對於那些開始使用它的客户來説是一個大成功。

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.

對於 Veeva 來説，這是一種偉大的感覺，我們可以做出這樣的改變，這將真正幫助我們的企業業務，不是因為那些企業客户將使用 Vault Basics，而是因為它將帶來的流程改進、簡化和標準化，這將真正帶來回報。我們將隨着時間將 Vault Basics 帶到更多應用程序中，包括商業領域。我們將以稍微不同的方式在商業領域使用，但 Vault Basics 的概念是非常適用的。

Ryan MacDonald -- Analyst

Ryan MacDonald -- 分析師

Makes sense. Appreciate the color. Congrats again.

很有道理。感謝您的見解。再次恭喜。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

Thank you.

謝謝。

Operator

運營商

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

您的下一個問題來自 Evercore ISI 的 Kirk Materne。請講。

Unknown speaker -- -- Analyst

未知發言人 -- -- 分析師

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，夥計們。這裏是 Kirk 的代表 Bill。看看 Vault Direct Data API，客户要啓用它並開始使用它有多無縫？這是否需要實施？還是可以立即發生？

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

Peter P. Gassner -- 聯合創始人兼首席執行官

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.

我來回答這個問題，Bill。這是 Peter。這是客户購買的東西，因此客户不是免費使用的。他們購買它。

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.

費用並不高。它涵蓋了我們的計算成本，這類事情。因此，他們必須真正決定他們是否想要它。之後，不，不需要實施。

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.

打開它，它就開啓了。就是這樣。現在，要使用它，客户必須學會如何使用它，閲讀文檔，弄清楚，嘿，這是一種有點不同類型的 API。我想用它做什麼？我怎麼用？但是沒有實施。

You turn it on, and it's on.

打開它，它就開啓了。

Unknown speaker -- -- Analyst

未知發言人 -- 分析師

OK, great. Thanks for taking my question.

好的，謝謝您回答我的問題。

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

Peter P. Gassner -- 聯合創始人兼首席執行官

Thanks.

謝謝。

Operator

操作員

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

下一個問題來自 Truist Securities 的 Jailendra Singh。請發言。

Jenny Cao -- Truist Securities -- Analyst

Jenny Cao -- Truist Securities -- 分析師

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。關於專業服務方面有一個問題。首先，恭喜您取得了一個不錯的季度成績。

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?

但是看起來 Veeva 解決方案中的專業服務部分在本季度報告中繼續是一個弱點。這是否仍然是因為客户將專業服務視為可自行決定的，並且仍在繼續推遲某些服務？而對於客户直接與第三方供應商簽約的部分，是出於節約成本或更高效的一些倡議嗎？您認為是什麼推動了這一點？

Timothy Stephen Cabral -- Interim Chief Financial Officer

Timothy Stephen Cabral -- 臨時首席財務官

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。我會回答這個問題，謝謝您提出。首先，我認為專業服務不是一個弱點，而是 Veeva 的一個優勢。

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，我們正在優化客户的成功，我認為我們的服務團隊正在為客户成功提供幫助，幫助他們部署和採用一些非常重要的應用程序。所以，我認為這是首要的。其次，當您看一些我們正在看到的動態時，我認為這是一個事實，或者説這是我們如何思考服務業務的一個功能，它會有起伏。在我們的產品組合中，不同產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.

正如您所説的，也正如我之前所説的，客户有選擇權，可以做出對他們來説可能是獨特的或最適合他們的決定。我們試圖與客户合作，確保他們感到非常自信。我不會説這是服務普遍不重要的一個功能。儘管在我提到的一些例子中，我們在這些例子中所佔的份額可能有所減少，Jenny，但事實並非是服務或專業服務對於我們的客户不重要，以便真正從我們的解決方案中獲得最大價值。

Jenny Cao -- Truist Securities -- Analyst

Jenny Cao -- Truist Securities -- 分析師

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.

謝謝您的解釋，Tim，我有一個跟進問題。我記得自去年十一月以來，Veeva 看到一些交易週期延長和決策時間延長。自那時以來，您是否看到任何推遲的決策在過去的 10 個月內有所迴歸？對於那些沒有被他們自己的內部解決方案替代的交易，如果您看到了，那麼典型的時間跨度是多久才會迴歸？感謝您回答我的問題。

Timothy Stephen Cabral -- Interim Chief Financial Officer

是的，Jenny，我是 Tim。我認為當您考慮我們在 10 個月前進行的對話時，宏觀經濟面臨的阻力剛開始產生影響。我認為這是我們 10 個月前對話中的信息。正如您之前聽到 Peter 提到的，仍然存在一些宏觀經濟上的阻力。

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.

但我認為我們做得很好，與我們的客户合作，通過這一點執行。因此，是的，一些交易週期會延長，我們與這些客户非常接近，並繼續讓他們關注在適當的時間關閉這些交易。所以，我認為這是宏觀經濟面臨的阻力，但我們正在通過這一點執行。

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.

操作員

Operator

下一個問題來自 TD Cowen 的 Charles Rhyee。請發言。

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

Charles Rhyee -- 分析師

Charles Rhyee -- Analyst

是的。感謝您回答問題。首先，我想問一下關於 Crossix。第二季度，您在這裏表現不錯。

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

我們聽到商業領域的同行也談到看到推遲的項目開始轉化。您是否看到生物製藥公司的自願支出開始解凍，您認為這可能會加速對您其他產品的需求嗎？

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 -- 聯合創始人兼首席執行官

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

Charles，我是 Peter。我不能稱之為解凍。不，我認為有時候，當您有一點積壓需求時，有時候這隻會導致 -- 這會將事情推遲到以後。所以，我認為您可能正在看到這一點。

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.

我不會稱之為解凍。我只是認為也許他們有一點積壓，事情積壓得足夠多。所以，最近 90 天內沒有任何重大的，例如，負面宏觀新聞。當您有負面的宏觀新聞時，這會導致解凍。

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.

當您沒有任何額外的負面因素時，事情開始再次流動。但我不會稱之為解凍。解凍可能會 -- 您可能會認為有一場冰雪融化，然後洪水來臨。不是這樣的。

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.

現在只是流動得更順暢一點。

It's just flowing a little bit better now.

Charles Rhyee -- 分析師

Charles Rhyee -- Analyst

明白了。這很有幫助。也許對 Tim 有一個跟進問題。在這裏第三季度的賬單指導中，這意味着第三季度同比增長約 5%，第四季度再次增長。

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.

如果我看過去幾年，同比賬單增長一直比較穩定。這裏有什麼需要注意的嗎？我知道在您之前的準備好的評論中，Peter，您談到了時間問題。任何評論將會很有幫助。謝謝。

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 -- 臨時首席財務官

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.

查爾斯，我認為今年下半年的指引和形狀是兩個因素的結合。首先，去年第三季度是一個稍強的季度，所以比較起來會有一些困難。但同時，我認為你已經聽到我們在正常化方面的努力，你可以在我們作為新聞發佈的補充提供的資料中看到，查爾斯，我們正在看到一些賬單條款的變化。

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

大部分是由續約日期的調整驅動的。這也會對賬單的正常化產生影響。

Charles Rhyee -- Analyst

查爾斯·瑞 -- 分析師

Got it. Thanks.

明白了。謝謝。

Operator

操作員

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

下一個問題來自 BTIG 的大衞·拉森。請發言。

David Larsen -- Analyst

大衞·拉森 -- 分析師

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。恭喜你們取得強勁的季度業績。你能談談競爭環境嗎，特別是在臨牀方面？聽起來你們在臨牀方面多年來取得了許多進展。那麼，你們的產品組合至少與 Phase Forward、Medidata 和 eResearch Technologies 相媲美嗎？如果不是，你們預計何時會擁有這些模塊？謝謝。

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

彼得·P·加斯納 -- 聯合創始人兼首席執行官

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。我來回答這個問題。就我們的產品廣度而言，我相信我們的產品是迄今為止最廣泛的，特別是當你看到 -- 我們能夠與最大的公司和較小的公司交流。因此，我們擁有完整的臨牀運營套件和完整的臨牀數據管理套件。

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，他們以前確實沒有這樣的產品。這就是我看待這個問題的方式。我們是如何做到的呢？我認為這只是通過有紀律的執行。如果回顧一下，我們的第一個臨牀產品是在 2012 年左右推出的，那時是電子試驗管理文件。

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，我們努力開發產品，獲得了一些客户，讓他們上線運行，直到他們真正上線，真正滿意。產品開始變得更加成熟，然後我們宣佈，嘿，我們要開發臨牀試驗管理系統（CTMS）和電子數據採集（EDC）。我們在那裏停留了一段時間，真正專注於這些產品，使它們變得優秀。現在，我們開始談論 EDC、站點連接和研究培訓。

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，我們一直在系統地構建整個套件。這是必須的，因為如果你想成為一個偉大的多產品公司，那麼你所有的產品都必須是優秀的，而不僅僅是其中一兩個。因此，你必須集中精力，這很困難。我們採取了一種有條不紊的結構化方法，因為我們正在打造一個持久的長期業務，應該可以延續幾代人。

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.

如果你只是在某個特定領域開發臨牀應用程序，那並不是你的初衷，對吧？我們的參考框架和我們試圖實現的目標是不同的。

David Larsen -- Analyst

大衞·拉森 -- 分析師

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。然後，從你的角度來看，彼得，將商業和臨牀兩方面都放在一個 Vault 數據庫中有多重要？我在渠道中與一些人交談時，他們説，在生物製藥領域，你實際上有兩種不同類型的公司。你有商業銷售部門，然後你有研究部門。

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，將所有內容放在 Vault 上可能並不重要。我的觀點不同。我認為這非常重要。你可以從你的角度談談這個問題嗎，彼得？

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

彼得·P·加斯納 -- 聯合創始人兼首席執行官

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，這當然是新的。這不是行業習慣的做法。當 Veeva 多年前創立時，每個功能區域都有不同的平台。甚至在你的 CRM 領域中都沒有 salesforce.com，對吧？我們將這個平台引入了商業領域。

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.

監管部門有他們自己的東西，質量部門等，每個功能區域都有。現在，我們看到的是，好吧，研發方面，那裏有很多 Vault，我們正在將 Vault 引入商業領域。我認為這樣做的優勢對客户來説可能並不明顯，因為這不是他們以前經歷過的。但我認為這些優勢是非常重要的。

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，這是一方面，安全性，供應商管理，能力，學習，系統集成網絡的效率，所有這些方面。但更重要的是，它可以幫助客户更好地將商業與臨牀聯繫起來。這是許多公司首席執行官級別的倡議。我認為擁有一個共同的平台和共同的數據架構將極大地幫助。

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.

但這是你必須親身體驗才能相信的事情。這是我們的願景。我不指望我們的大公司在這個願景上達成共識，直到它變成現實。我會説，這首先將由較小的客户體驗到，那些在研發和臨牀方面使用 Veeva 的生物技術公司。

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.

然後，當他們開始商業化他們的第一個產品時，他們會看到，哇，那很順利，那很連貫，因為所有內容都在 Vault 上。這將首先發生在那裏。這是我們的願景。最重要的是你必須執行。

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.

每個人都可以有一個好計劃，但你能以高質量執行嗎？這才是我們真正關注的。我們希望幫助這個行業。而要做到這一點，就需要執行，這並不容易。這需要專注。

David Larsen -- Analyst

大衞·拉森 -- 分析師

Great. Thanks very much.

非常感謝。

Operator

操作員

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

我們的提問環節到此結束。現在我將會把會議交回給彼得·加斯納進行結束語。

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

彼得·P·加斯納 -- 聯合創始人兼首席執行官

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.

感謝大家今天參加電話會議，感謝我們的客户繼續合作，感謝 Veeva 團隊在本季度的出色工作。我期待在 11 月 7 日的投資者日再次與大家交流。謝謝。

Operator

操作員

[Operator signoff]

[運營商簽退]

Duration: 0 minutes

持續時間：0 分鐘

Call participants:

通話參與者：

Gunnar Hansen -- Senior Director, Investor Relations

岡納·漢森 -- 高級總監，投資者關係

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

彼得·P·加斯納 -- 聯合創始人兼首席執行官

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

喬·弗魯温克 -- 羅伯特·W·貝爾德公司 -- 分析師

Paul Shawah -- Executive Vice President, Commercial Strategy

保羅·沙瓦 -- 執行副總裁，商業策略

Peter Gassner -- Co-Founder and Chief Executive Officer

彼得·加斯納 -- 聯合創始人兼首席執行官

Saket Kalia -- Analyst

薩凱特·卡利亞 -- 分析師

Timothy Stephen Cabral -- Interim Chief Financial Officer

蒂莫西·斯蒂芬·卡布拉爾 -- 臨時首席財務官

Kenneth Wong -- Analyst

肯尼斯·黃 -- 分析師

Tim Cabral -- Interim Chief Financial Officer

蒂姆·卡布拉爾 -- 臨時首席財務官

Ken Wong -- Analyst

肯恩·黃 -- 分析師

Brian Peterson -- Analyst

布萊恩·彼得森 -- 分析師

Rishi Jaluria -- Analyst

瑞希·賈盧里亞 -- 分析師

Tyler Radke -- Citi -- Analyst

泰勒·拉德克 -- 花旗 -- 分析師

Stan Berenshteyn -- Wells Fargo Securities -- Analyst

斯坦·貝倫斯坦 -- 富國證券 -- 分析師

Brent Bracelin -- Analyst

布倫特·布拉塞林 -- 分析師

Dylan Becker -- William Blair and Company -- Analyst

迪倫·貝克爾 -- 威廉·布萊爾公司 -- 分析師

Jack Wallace -- Analyst

傑克·華萊士 -- 分析師

Carolyn Valenti -- Goldman Sachs -- Analyst

卡羅琳·瓦倫蒂 -- 高盛 -- 分析師

Craig Hettenbach -- Analyst

克雷格·赫滕巴赫 -- 分析師

Ryan MacDonald -- Analyst

瑞安·麥克唐納 -- 分析師

Unknown speaker -- -- Analyst

未知發言人 -- -- 分析師

Jenny Cao -- Truist Securities -- Analyst

珍妮·曹 -- Truist 證券 -- 分析師

Charles Rhyee -- Analyst

查爾斯·雷伊 -- 分析師

David Larsen -- Analyst

大衞·拉森 -- 分析師

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Veeva Systems (VEEV) 2025 年第二季度收益電話會議記錄