Maybe we can start with what you think Veeva is doing well or differently from the rest of the industry in terms of product development that's allowing it to win share for its clinical and R&D products.

In a nutshell, two things I think they're doing well are stakeholder engagement and the UI/UX aspect. I'll elaborate on stakeholder engagement. Veeva follows the model of early adopters. They're very involved with their clients in understanding their pain points, needs, and gaps in existing solutions.

Do you have any opinion on Medidata's product versus Veeva's EDC product? Have you seen Medidata's?

Medidata offers a comprehensive solution, but it's a legacy platform. They've struggled in recent years, particularly the past five years, with siloed systems and processes. Previously, everything was its own platform, requiring physical integrations. They're slowly building integrations, which causes performance issues. They underwent serious refactoring and optimization to remain competitive, but this increases costs, and they charge a premium.

I noticed in the first question, you didn't mention the fact that Veeva's modules are tightly integrated together. In your opinion, is that another factor in why they're winning against the competition? How much do customers value those connectors?

Some things are tightly integrated, and some things are loosely integrated. If you notice, they have different product suites, like the clinical suite. It used to be two separate ones, clinical and data, but they merged them while I was there. These were two different product infrastructures, so they aren't really connected.