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Verix OverviewUNIXBusinessApplication

What is Verix?

Verix offers cloud-based applications to analyze life sciences commercial operations and optimize business process performance. The Verix engine normalizes data inputs and applies predictive analytic algorithms to answer key, role-based questions and allow users to proactively act upon changes that affect the business.

Buyer's Guide

Download the Business Intelligence (BI) Tools Buyer's Guide including reviews and more. Updated: September 2021

Verix Customers
P&G, Accenture, Roche Diagnostics, KV Pharmaceutical, The Nielsen Company, HealthCare Pharmaceuticals, Bayer HealthCare Pharmaceuticals
Verix Video

Archived Verix Reviews (more than two years old)

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it_user104361
Vice President, BI with 5,001-10,000 employees
Vendor
Business Analytics enables us to better understand our business and compare ourselves meaningfully to our competitors.

What is most valuable?

The solution has a number of distinct features that are noteworthy. First, it is an incredibly flexible and fast, yet comprehensive analytical solution. Verix has found a way to deploy the solution quickly, in under 3 months, while providing a product that is robust and uniquely tailored to the sales model within the industry. Second, in response to specific business needs that are constantly arising, Verix is consistently able to address our needs in a quick and thoughtful manner. Additionally, since Verix is cloud-based, these changes happen almost immediately, usually within hours or days. Finally, Verix’s intelligent business alerts (i.e. hotspots) provide outstanding value by putting easy-to-use analytics in the hands of the user.

How has it helped my organization?

I lead a small team of highly trained experts whose job it is to understand the data that is important to our business. The team supports thousands of people across the company, including the sales and marketing groups, as well as the executive branch. Verix allows us to better understand our business and compare ourselves in a meaningful way to our competitors. The solution makes it easy by integrating and displaying the information in a highly useful way so that we can provide targeted guidance to managers on what is and isn’t working. We are able to focus on the right customers with greater insight, be they HCPs or payers.

What needs improvement?

I am very happy with Verix. The solution itself is flexible and reasonably priced. Therefore, I would like to see it expanded into different parts of the business, which I believe is the ambition. 

For how long have I used the solution?

4 years

What was my experience with deployment of the solution?

There were no issues with the deployment. The deployment took place one group at a time and expanded from there. Once one group was satisfied, that group passed on recommendations to their colleagues in another group, and so forth. The early adopters generated demand among the subsequent groups.

What do I think about the stability of the solution?

None at all - the product is extremely stable.

Which solution did I use previously and why did I switch?

I attempted to use our enterprise data warehouse coupled with a generic BI tool. This solution proved very costly, cumbersome to use and required many internal resources and consultants to support. For example, it took us six months to develop and produce a set of reports. With this tool, we are able to produce full reports within six weeks. This time savings really confirms the agility of the solution and team.

How was the initial setup?

For us, the initial set-up was very straightforward. I assume that for the Verix team, the large amount of data along with our business requirements, made it quite complicated. However, Verix’s production model and domain expertise helped to cut through the complexity. They used their experience from past engagements and suggested how and what would be best to display. Rather than starting with a blank slate, Verix brought in ideas and templates that served to guide us through the process.

What's my experience with pricing, setup cost, and licensing?

One of the nice things about the contract with Verix is that the offering terms are predefined. The contract allows for a liberal set of adjustments and changes within a defined scope. I know how much I’m going to spend in a year, rather than other pay-as-you-go models, where the costs are unknown and possibly endless. Verix understands that business needs change and their system is flexible enough to accommodate these changes.

What other advice do I have?

I would recommend reaching out and talking to people with significant experience in developing and using BI tools. Learn about the different products and their pros and cons. Find out the deployment pain points. We went through several BI iterations prior to Verix that were unsuccessful. We would have saved millions if we had worked with Verix in the first place. Once we did, it was smooth sailing. 
Disclosure: IT Central Station contacted the reviewer to collect the review and to validate authenticity. The reviewer was referred by the vendor, but the review is not subject to editing or approval by the vendor.
it_user108765
Director, Sales Analytics at a pharma/biotech company with 501-1,000 employees
Vendor
Verix has enabled us to standardize the view of our sales data and analytics; overall flexibility is excellent

What is most valuable?

One of the most valuable features of Verix is the flexibility that the solution provides. Depending on the end user’s needs, the data can be presented either broadly or in a more detailed, in-depth manner. Because of this flexibility, the solution lends itself well to both highly analytical end users as well as users who are less analytically oriented.

How has it helped my organization?

Verix has not only standardize the view of our sales data but has also enabled the data to be available to all the teams in the sales division. Previously, the sales reporting was region specific and each region had its own way of presenting its reporting. This made sharing and receiving information quite cumbersome. Verix has improved our processes since the entire sales force now functions on this standardized platform, which allows for smoother channels of communication throughout the team. Everyone sees one version of the truth.

What needs improvement?

There are tools in the market that have very slick graphical interface features. It would be nice to have the graphical user interface upgraded with some of these latest graphical features. I believe there are modification being made to have it become more visually oriented.

For how long have I used the solution?

5 years

What do I think about the stability of the solution?

Stability issues arose periodically, but any problems were resolved quickly. There were a few times where access became an issue, sometimes due to a connection with Verix's service provider. Issues were solved and fixed within a day at most. Verix has recently switched service providers and there has not been a problem since then.

How are customer service and technical support?

The team is very responsive to issues and willing to work with us.

Which solution did I use previously and why did I switch?

We did not have a different solution before Verix and were mostly using excel.

How was the initial setup?

The initial setup was complicated by due to the complexity of our sales model. Verix was very accommodating in adapting the tool to fit our needs.

Which other solutions did I evaluate?

We evaluated other options and determined that our needs would be met to the fullest with Verix.

What other advice do I have?

Ensure that there is adequate documentation of the processes, procedures and set-up of the solution.
Disclosure: IT Central Station contacted the reviewer to collect the review and to validate authenticity. The reviewer was referred by the vendor, but the review is not subject to editing or approval by the vendor.
Find out what your peers are saying about Verix, Tableau, ElectrifAi and others in Business Intelligence (BI) Tools. Updated: September 2021.
541,708 professionals have used our research since 2012.
it_user103722
CEO with 51-200 employees
Vendor
We evaluated Tableau, Splunk, and QlikView before choosing Verix.

What is most valuable?

The ability to identify in real time changes in behavior that are in contrast to expected and past behavior. This applies to any constituent’s behavior – customers, prescribers, competitors, payers, and even your own sales reps. The product is also extremely user friendly.

How has it helped my organization?

Regarding consumer goods, we are able to analyze almost in real time if there are problems with the product launch and the sale's funnel as well as to understand what are the relevant activities we need to take to solve any bottlenecks that might holding up various processes.

What needs improvement?

Currently there are 10 applications in the solution such as product launch and funnel. In the future I would like to see Verix add additional analytical applications so that an even greater range of the business aspects is covered.

For how long have I used the solution?

7 years

What was my experience with deployment of the solution?

There is a very strong professional service team in Verix and deployment is actually one of the strengths in the overall solution.

What do I think about the stability of the solution?

The product has been completely stable.

Which solution did I use previously and why did I switch?

I didn’t need to switch because Verix is able to co-exists with other BI solutions. This is because it focuses on actionable BI rather than just analytics. Before this product came on the market a similar type of product did not exist and therefore it was not possible to see any actionable solutions.

How was the initial setup?

Relatively simple to medium complexity. Because of the domain knowledge that is embedded in the solution and the architecture, the setup does not turn into a very complex BI project.

Which other solutions did I evaluate?

The current BI solutions that were already being used in the organization were potential candidates to deploy in order to cover the company's needs but they couldn’t handle the challenge. We evaluated tools such as Tableau, Splunk, Quikview, all of which are very good BI solutions but they are unable to do what Verix is capable of – automatically highlighting significant issues.

What other advice do I have?

Most organizations currently have BI solutions embedded into their analytical environment. Verix is focused on improving the business processes and not just to provide an understanding of the status of the organization's performance. In order to improve processes like sales operations and products launches you need to have actionable analytics and to have applications that are embedded into the business processes. This is why Verix excels, because they focus on other types of innovative solutions for a company.

Disclosure: IT Central Station contacted the reviewer to collect the review and to validate authenticity. The reviewer was referred by the vendor, but the review is not subject to editing or approval by the vendor.
it_user102069
Director, Business Segment at a pharma/biotech company with 1,001-5,000 employees
Vendor
Verix creates “dynamic” data which helps us predict future sales trends & identify vulnerable points in the sale process

What is most valuable?

The key performance indicators to measure the health of our sales funnel

How has it helped my organization?

Improved forecast capability, increased return on investment for marketing leads, identify and share best practices more quickly

For how long have I used the solution?

More than a year

What do I think about the stability of the solution?

No issues with stability

Which solution did I use previously and why did I switch?

Previously we were using a solution called Business Information Warehouse, and another called Tableau. Neither was as easy to use or as advanced as the Verix solution.

How was the initial setup?

Straightforward; Verix built a working model of our…

What is most valuable?

The key performance indicators to measure the health of our sales funnel

How has it helped my organization?

Improved forecast capability, increased return on investment for marketing leads, identify and share best practices more quickly

For how long have I used the solution?

More than a year

What do I think about the stability of the solution?

No issues with stability

Which solution did I use previously and why did I switch?

Previously we were using a solution called Business Information Warehouse, and another called Tableau. Neither was as easy to use or as advanced as the Verix solution.

How was the initial setup?

Straightforward; Verix built a working model of our dashboard and we provided real-time feedback and input throughout the process; they made changes almost as fast as we gave them feedback.
Disclosure: IT Central Station contacted the reviewer to collect the review and to validate authenticity. The reviewer was referred by the vendor, but the review is not subject to editing or approval by the vendor.
it_user96120
Deputy Director with 5,001-10,000 employees
Vendor
11 Different reporting platforms gave us a headache and outdated business analytics
When my company, was about to launch two new high profile Oncology drugs, the need for a cutting edge, agile analysis solution was a prerequisite to guarantee success in this competitive market. Verix was chosen after a careful selection process, to support the sensitive and complicated launch process of these specialty products. Before adopting Verix, we invested in several enterprise-wide BI platforms. Alas, outcomes were suboptimal: reporting was slow to deploy, pushing users to create fragmented reports to meet acute needs. Even worse, those platforms were unable to change at the speed of business. The launch of our new Oncology drugs with Verix’s New Product Launch analytical application became a remarkable success. We enjoyed the clear actionable insights and consolidated…

When my company, was about to launch two new high profile Oncology drugs, the need for a cutting edge, agile analysis solution was a prerequisite to guarantee success in this competitive market. Verix was chosen after a careful selection process, to support the sensitive and complicated launch process of these specialty products. Before adopting Verix, we invested in several enterprise-wide BI platforms. Alas, outcomes were suboptimal: reporting was slow to deploy, pushing users to create fragmented reports to meet acute needs. Even worse, those platforms were unable to change at the speed of business.

The launch of our new Oncology drugs with Verix’s New Product Launch analytical application became a remarkable success. We enjoyed the clear actionable insights and consolidated view of the business - all based on a single version of the truth across commercial operations. Consequently, we decided that Verix will be the solution of choice for all new launches and gradually will be implemented for all Business Units to replace other BI solutions and enable the company to have one single, effective solution across the entire organization.

Before Verix, we were using 11 different reporting platforms, though the need for up-to-date, relevant, coherent information was not being met. Hundreds of weekly, redundant reports made it hard to reach effective utilization. Reports were fragmented, often conflicting; and did not enable actionable insights. Managing drug launches is complicated, with data coming from many sources that need to be integrated into a comprehensive view to understand all influences – both in-house (sales, marketing, managed markets, finance, manufacturing) and external (competitive, market, prescribers, Payers).

The first three months in any new drug’s life are most critical for its success, requiring constant tweaking of critical components of your strategy, such as promotions, targeting, messaging and pricing. We needed business insights to support decisions of senior management, sales leadership and field sales with KPI’s to measure Managed Markets, sales forecasting and call detailing activity. Everything had to support a variety of roles (brand specific and sales specific), with appropriate access limitations per role, so people only see what they need. Data sources to be integrated include our in-house Data Warehouse, Veeva (CRM), ProMetrics (Decision Support tool), LASH (rebate optimization tool), CLM, as well as unstructured data, such as Speaker Programs, Finance/Forecasting data, Call Plan, Cardinal (healthcare supplies distribution), Licensing database, Zip-to-territory database, Sales goals, Ecosystems, and Managed Markets metrics.

We defined key criteria to evaluate an analytic solution for the upcoming launches:

  1. Agility and flexibility: Timing for the initial implementation as well the flexibility to quickly perform ongoing change requests were defined as most critical. We wanted a quick implementation that could be up and running within weeks.
  2. TCO – Total Cost of Ownership: The TCO includes setup, initial configuration, change requests, and most critical, keeping the system up and running. Launch KPIs constantly evolve with the launch, and even established business units see a lot of change. Analytical tools must reflect all changes and look only at relevant KPIs to bring real value. Verix pricing includes changes, which is a huge advantage over previous platforms.
  3. Business Value: Does the solution answer reporting needs? Does it provide actionable insights? Does it bring real value to the organization? A good way to measure the value is the utilization rate, both of the tool and the reports it generates. We keep measuring usage, which exceeds expectations with Verix.

Verix helped design specific needs – KPIs, views, and correlations between various elements. The application monitors the new drug’s performance and how all components of the launch are influencing one another. Performance is constantly compared with benchmarks and goals: Prescription such as prescription rates, market share, new patients trends, and week on week or month on month growth in market share. Views are tailored to each user - per physician/account/geography/region/patient. Marketing campaigns and Managed Markets contracts information are integrated to analyze interdependencies. Dashboards are defined per user role, so every user sees only what he/she needs to see and isn’t overwhelmed with irrelevant information. Users can drill down to explore underlying drivers and get granular information on performance.

Verix conducted focus groups to understand the exact needs of every user group to be involved in the launch and ensure all requests were incorporated. “Train the Trainer” sessions with representatives from each user group gave further feedback. This attention to detail is one of the secrets behind Verix’s high utilization rate.

Verix is the only product in the market that specializes in Pharma Launches. We felt that it addressed exactly our needs. Verix’s library of pre-packaged life science applications enables notoriously quick implementations. Today, Verix is used by everyone in the company’s commercial operations to make data-driven decisions: Sales, Sales management, marketing, analysts, and managed markets. Reporting is no longer a pain-point, but a solution to empower actionable insights.

After using 11 reporting systems before adopting Verix and being repeatedly perplexed by their inability to keep up with the pace of the business, we feel that the greatest, unique advantage of Verix is agility - implementing endless ongoing change requests within hours or days. The flexibility of the architecture, the design team and the professional services team in the back that easily adapt to any necessary change, fully understanding the necessity for flexible thinking as well as fast implementation. As a result, Verix is substantially more used than any analytical system adopted by us, and at the end of the day, far cheaper.

Verix’s domain expertise in the Life science industry made the implementation flawless. Business rules were transferred with ease, visual components and KPI’s were designed with the users’ needs in mind; special needs of the company’s new oncology drug were easily enabled (e.g. 90 day allocation methodology. Verix implemented this within days, while other systems don’t support such adjustments.)

Previous reporting experiences with other vendors have probably jaded people, and created hesitation to try yet another reporting solution. Seeing Verix in action with our real data crushed all doubt.

The positive experience is influencing other divisions to adopt Verix as a worldwide standard for our Commercial Operations analytics. By early 2014, four additional teams will implement Verix as their analytics standard. The launch of our new oncology drugs was exceptionally successful. Tracking and monitoring the process from planning to execution was smooth and efficient.

By using Verix’s analytical applications solution, which includes change requests and any needed tweaks and adjustments in the price, we saved over $2.5M a year. Moreover, the real gain is in significantly higher usage rate and business value derived from the solution.

Disclosure: IT Central Station has made contact with the reviewer to validate that the person is a real user. The information in the posting is based upon a vendor-supplied case study, but the reviewer has confirmed the content's accuracy.