A good estimate of the cost for a large pharmaceutical company to bring a new drug to market is about $2.5 billion. So cost savings without cost cutting - and missing steps and costly delays - is critical.
Veeva (NASDAQ:VEEV) builds cloud software for the life sciences industry. Veeva’s primary SaaS app, “Vault”, tracks the path of drug manufacturing from R&D, to clinical trials, through steps for compliance, and FDA approval.
Atlassian (NASDAQ:TEAM) founded in 2002, began offering a niche application named “Jira”, a collaborative coding database and project management platform for software development teams.
Atlassian’s recent success stems from effectively moving their apps to the cloud. At $7 - $10 per user per month Jira, many times in tandem with an Amazon Web Services or Microsoft Azure subscription, has become a viral success with IT departments, indie developers and help desks.
Since the adoption of automated systems for corporate data processing, companies have lived with multiple databases to manage business functions like payroll and employee benefits.
Paycom (NASDAQ:PAYC) prides itself on the ability to manage human capital and corrals all of the essential human resource operations into one cloud-accessible platform. The corporate mantra is indicative: “Paycom is designed to manage employees from recruitment through retirement”.
ServiceNow (NYSE:NOW) has its roots in IT Service Management (ITSM) and coordinates change management and help desk automation for corporate data centers. They’ve found an opportunity in the cloud.
ServiceNow is a less expensive alternative offering network management as a subscription. Cloud offerings have expanded into transaction services, like booking a ride with Uber or a vacation rental on Airbnb. Per seat subscriptions for ITSM are generally $100/month and less.