veeva commercial cloud customers are those customers that have at least one of the following products : veeva crm , veeva clm , veeva crm approved email , veeva crm engage , veeva align , veeva crm events management , veeva nitro , veeva andi , veeva opendata , veeva oncology link , or veeva network customer master . note that net new customers from crossix and physicians world are included in veeva commercial cloud . veeva vault customers are those customers that have at least one vault product . many of our veeva vault applications are used by smaller , earlier stage pre-commercial companies , some of which may not reach the commercialization stage . thus , the potential number of veeva vault customers is significantly higher than the potential number of veeva commercial cloud customers . on november 1 , 2019 , we completed our acquisition of crossix , a provider of privacy-safe patient data and analytics . crossix brings veeva additional depth in patient data and data analytics , and we are integrating crossix with our veeva crm and opendata products . further , on november 7 , 2019 , we completed our acquisition of physicians world , a provider of speakers bureau services for healthcare professionals . acquiring physicians world makes it easier for our customers to get industry leading cloud software and services from a single vendor . while we expect these acquisitions to support the continued growth of our commercial cloud solutions , we may encounter difficulties integrating these businesses and we may not retain existing crossix and physicians world customers and key crossix and physicians world employees to the extent we expect , which could adversely affect our business . for further details on our recently acquired businesses , please refer to note 2 to the notes of our consolidated financial statements . 39 veeva systems inc. | form 10-k the world health organization has declared the outbreak of covid-19 , which began in december 2019 , to be a pandemic , and the u.s. federal government has declared it a national emergency . the extent of the impact of covid-19 on our operational and financial performance will depend on certain developments , including the duration and spread of the outbreak , impact on our customers and our sales cycles , impact on our customer , employee or industry events , and effect on our vendors and partners , all of which are uncertain and can not be predicted . for example , in response to the covid-19 outbreak , we have shifted certain of our customer events to virtual-only experiences , and we may be forced to or may deem it advisable to similarly alter , postpone , or cancel entirely additional customer , employee , or industry events in the future . we have also imposed employee travel restrictions and instructed employees in most locations to work from home . many of our customers have implemented similar measures , which may limit our ability to sell or provide professional services to them . customers may also delay or cancel purchasing decisions or projects in light of uncertainties to their businesses arising from the covid-19 outbreak . at this point , the extent to which the covid-19 outbreak may impact our financial condition or results of operations is uncertain . due to our subscription-based business model , the effect of the covid-19 outbreak , and any impact to our sales efforts , may not be fully reflected in our results of operations until future periods , if at all . for a further description of our business and products , see “ business ” above . key factors affecting our performance investment in growth . we have invested and intend to continue to invest aggressively in expanding the breadth and depth of our product portfolio , including through acquisitions . we expect to continue to invest in research and development to expand existing solutions and build new solutions ; in sales and marketing to promote our solutions to new and existing customers and in existing and expanded geographies and industries ; in professional services to ensure the success of our customers ' implementations of our solutions ; and in other operational and administrative functions to support our expected growth . we expect that our headcount will increase as a result of these investments . we also expect our total operating expenses will continue to increase over time , which could have a negative impact on our operating margin . adoption of our solutions by existing and new customers . most of our customers initially deploy our solutions to a limited number of end users within a division or geography and may only initially deploy a limited set of our available solutions . our future growth is dependent upon our existing customers ' continued success and their renewals of subscriptions to our solutions , expanded deployment of our solutions within their organizations , and their purchase of subscriptions to additional solutions . our growth is also dependent on the adoption of our solutions by new customers . subscription services revenue retention rate . a key factor to our success is the renewal and expansion of our existing subscription agreements with our customers . we calculate our annual subscription services revenue retention rate for a particular fiscal year by dividing ( i ) annualized subscription revenue as of the last day of that fiscal year from those customers that were also customers as of the last day of the prior fiscal year by ( ii ) the annualized subscription revenue from all customers as of the last day of the prior fiscal year . story_separator_special_tag in addition , we had an 53 % increase in the headcount of our subscription services team , which includes headcount from crossix added in the fiscal quarter ended january 31 , 2020. the increase in headcount drove a $ 3.0 million increase in employee compensation-related costs ( includes an increase of $ 1.1 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period . there was an additional $ 4.6 million in data acquisition costs related to the acquired business of crossix . we expect cost of subscription services revenues to increase in absolute dollars in the near term due to increased usage of our subscription services . cost of professional services and other revenues increased $ 38.8 million , primarily due to a 49 % increase in headcount of our professional services team , which drove a $ 30.9 million increase in employee compensation-related costs ( includes an increase of $ 6.9 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including headcount from our recently acquired businesses added in the quarter ended january 31 , 2020. we expect cost of professional services and other revenues to increase in absolute dollars and as a percentage of revenue in the near term as we add personnel to our global professional services organization . veeva systems inc. | form 10-k 45 gross margin for fiscal years ended january 31 , 2020 and 2019 was 73 % and 72 % , respectively . the increase compared to the prior period is largely due to the continued growth of veeva vault and our newer multichannel crm applications that complement veeva crm , all of which have higher subscription services gross margins than our core veeva crm application . we expect gross margin to decrease in the fiscal year ending january 31 , 2021 due to the dilutive impact to gross margin from our recently acquired businesses , which we expect to be partially offset by growth of our vault products , which have a higher gross margin profile relative to our core crm product . operating expenses and operating margin operating expenses include research and development , sales and marketing , and general and administrative expenses . as we continue to invest in our growth through hiring , and as we realize the full impact of the additional headcount and operating expenses associated with crossix and physicians world , we expect operating expenses to increase in absolute dollars and may slightly increase as a percentage of revenue in the near term . we also expect stock-based compensation expense to increase in absolute dollars and as a percentage of revenue through the fiscal year ending january 31 , 2021 due to increased headcount and retention equity awards granted to certain employees associated with the acquisitions in november 2019. research and development replace_table_token_10_th fiscal 2020 compared to fiscal 2019. research and development expenses increased $ 51.1 million , primarily due to a 29 % increase in headcount during the period , which drove an increase of $ 39.7 million in employee compensation-related costs ( includes an increase of $ 14.9 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from crossix . additionally , there was an increase of $ 3.2 million in costs for increased computer equipment costs in our research and development organization . we expect research and development expenses to increase in absolute dollars and may increase as a percentage of revenue in the near term , primarily due to higher headcount , including increased headcount associated with our recently acquired businesses , as we continue to invest in our solutions and develop new technologies and as we experience the full impact of additional research and development headcount and expenses associated with our recently acquired businesses . sales and marketing replace_table_token_11_th 46 veeva systems inc. | form 10-k fiscal 2020 compared to fiscal 2019. sales and marketing expenses increased $ 41.5 million , primarily due to an increase of $ 31.0 million in employee compensation-related costs ( includes an increase of $ 9.2 million in stock-based compensation ) , which was driven by an 29 % increase in headcount . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from our recently acquired businesses . in addition , there was an increase of $ 2.1 million of amortization of purchased intangibles associated with our recently acquired businesses . we expect sales and marketing expenses to continue to grow in absolute dollars in the near term , primarily due to employee-related expenses as we increase our headcount , to support our sales and marketing efforts associated with our newer solutions and our continued expansion of our sales capacity across all our solutions , and as we experience the full impact of additional sales and marketing headcount and expenses associated with our recently acquired businesses . general and administrative replace_table_token_12_th fiscal 2020 compared to fiscal 2019 . general and administrative expenses increased $ 27.9 million , primarily due to an increase of $ 12.0 million in employee compensation-related costs ( includes an increase of $ 7.4 million in stock-based compensation ) , which was driven by an 35 % increase in headcount , and an increase of $ 7.0 million in legal fees related to litigation activity during the period . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from our recently acquired businesses . there was an additional $ 1.5 million in costs for increased computer equipment costs and $ 1.3 million in one-time acquisition-related transaction costs for our recently acquired businesses . we expect general and administrative expenses to continue

net cash provided by operating activities was $ 437.4 million for the fiscal year ended january 31 , 2020 . our cash provided by operating activities during the fiscal year ended january 31 , 2020 primarily reflected our net income of $ 301.1 million , adjustments for non-cash items of $ 154.4 million , which was offset by a net decrease in our operating assets and liabilities of $ 18.2 million . non-cash charges included $ 115.9 million of stock-based compensation expense , $ 19.9 million of depreciation and amortization expense , and $ 3.3 million of accretion of discounts on short-term investments . the net changes in operating assets and liabilities included an increase of $ 97.8 million in deferred revenue resulting primarily from increased orders from new and existing customers , which was offset by a decrease of $ 55.5 million in accounts receivable related to increased collections during the period . fiscal 2019 compared to fiscal 2018. net cash provided by operating activities was $ 310.8 million for the fiscal year ended january 31 , 2019 . our cash provided by operating activities during the fiscal year ended january 31 , 2019 primarily reflected our net income of $ 229.8 million , adjustments for non-cash items of $ 98.4 million , which was offset by a net decrease in our operating assets and liabilities of $ 17.4 million . non-cash charges included $ 76.4 million of stock-based compensation expense , $ 14.1 million of depreciation and amortization expense , and $ 2.4 million of amortization of premiums on short-term investments . the net changes in operating assets and liabilities included an increase of $ 89.4 million in deferred revenue resulting primarily from increased orders from new and existing customers , which was offset by a decrease of $ 79.0 million in accounts receivable related to the seasonal nature of our billings and the timing of collections . cash flows from investing activities the cash flows from investing activities primarily relate to cash used for the purchase of marketable securities , net of maturities .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities was $ 437.4 million for the fiscal year ended january 31 , 2020 . our cash provided by operating activities during the fiscal year ended january 31 , 2020 primarily reflected our net income of $ 301.1 million , adjustments for non-cash items of $ 154.4 million , which was offset by a net decrease in our operating assets and liabilities of $ 18.2 million . non-cash charges included $ 115.9 million of stock-based compensation expense , $ 19.9 million of depreciation and amortization expense , and $ 3.3 million of accretion of discounts on short-term investments . the net changes in operating assets and liabilities included an increase of $ 97.8 million in deferred revenue resulting primarily from increased orders from new and existing customers , which was offset by a decrease of $ 55.5 million in accounts receivable related to increased collections during the period . fiscal 2019 compared to fiscal 2018. net cash provided by operating activities was $ 310.8 million for the fiscal year ended january 31 , 2019 . our cash provided by operating activities during the fiscal year ended january 31 , 2019 primarily reflected our net income of $ 229.8 million , adjustments for non-cash items of $ 98.4 million , which was offset by a net decrease in our operating assets and liabilities of $ 17.4 million . non-cash charges included $ 76.4 million of stock-based compensation expense , $ 14.1 million of depreciation and amortization expense , and $ 2.4 million of amortization of premiums on short-term investments . the net changes in operating assets and liabilities included an increase of $ 89.4 million in deferred revenue resulting primarily from increased orders from new and existing customers , which was offset by a decrease of $ 79.0 million in accounts receivable related to the seasonal nature of our billings and the timing of collections . cash flows from investing activities the cash flows from investing activities primarily relate to cash used for the purchase of marketable securities , net of maturities .
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 Suspicious Activity Report : veeva commercial cloud customers are those customers that have at least one of the following products : veeva crm , veeva clm , veeva crm approved email , veeva crm engage , veeva align , veeva crm events management , veeva nitro , veeva andi , veeva opendata , veeva oncology link , or veeva network customer master . note that net new customers from crossix and physicians world are included in veeva commercial cloud . veeva vault customers are those customers that have at least one vault product . many of our veeva vault applications are used by smaller , earlier stage pre-commercial companies , some of which may not reach the commercialization stage . thus , the potential number of veeva vault customers is significantly higher than the potential number of veeva commercial cloud customers . on november 1 , 2019 , we completed our acquisition of crossix , a provider of privacy-safe patient data and analytics . crossix brings veeva additional depth in patient data and data analytics , and we are integrating crossix with our veeva crm and opendata products . further , on november 7 , 2019 , we completed our acquisition of physicians world , a provider of speakers bureau services for healthcare professionals . acquiring physicians world makes it easier for our customers to get industry leading cloud software and services from a single vendor . while we expect these acquisitions to support the continued growth of our commercial cloud solutions , we may encounter difficulties integrating these businesses and we may not retain existing crossix and physicians world customers and key crossix and physicians world employees to the extent we expect , which could adversely affect our business . for further details on our recently acquired businesses , please refer to note 2 to the notes of our consolidated financial statements . 39 veeva systems inc. | form 10-k the world health organization has declared the outbreak of covid-19 , which began in december 2019 , to be a pandemic , and the u.s. federal government has declared it a national emergency . the extent of the impact of covid-19 on our operational and financial performance will depend on certain developments , including the duration and spread of the outbreak , impact on our customers and our sales cycles , impact on our customer , employee or industry events , and effect on our vendors and partners , all of which are uncertain and can not be predicted . for example , in response to the covid-19 outbreak , we have shifted certain of our customer events to virtual-only experiences , and we may be forced to or may deem it advisable to similarly alter , postpone , or cancel entirely additional customer , employee , or industry events in the future . we have also imposed employee travel restrictions and instructed employees in most locations to work from home . many of our customers have implemented similar measures , which may limit our ability to sell or provide professional services to them . customers may also delay or cancel purchasing decisions or projects in light of uncertainties to their businesses arising from the covid-19 outbreak . at this point , the extent to which the covid-19 outbreak may impact our financial condition or results of operations is uncertain . due to our subscription-based business model , the effect of the covid-19 outbreak , and any impact to our sales efforts , may not be fully reflected in our results of operations until future periods , if at all . for a further description of our business and products , see “ business ” above . key factors affecting our performance investment in growth . we have invested and intend to continue to invest aggressively in expanding the breadth and depth of our product portfolio , including through acquisitions . we expect to continue to invest in research and development to expand existing solutions and build new solutions ; in sales and marketing to promote our solutions to new and existing customers and in existing and expanded geographies and industries ; in professional services to ensure the success of our customers ' implementations of our solutions ; and in other operational and administrative functions to support our expected growth . we expect that our headcount will increase as a result of these investments . we also expect our total operating expenses will continue to increase over time , which could have a negative impact on our operating margin . adoption of our solutions by existing and new customers . most of our customers initially deploy our solutions to a limited number of end users within a division or geography and may only initially deploy a limited set of our available solutions . our future growth is dependent upon our existing customers ' continued success and their renewals of subscriptions to our solutions , expanded deployment of our solutions within their organizations , and their purchase of subscriptions to additional solutions . our growth is also dependent on the adoption of our solutions by new customers . subscription services revenue retention rate . a key factor to our success is the renewal and expansion of our existing subscription agreements with our customers . we calculate our annual subscription services revenue retention rate for a particular fiscal year by dividing ( i ) annualized subscription revenue as of the last day of that fiscal year from those customers that were also customers as of the last day of the prior fiscal year by ( ii ) the annualized subscription revenue from all customers as of the last day of the prior fiscal year . story_separator_special_tag in addition , we had an 53 % increase in the headcount of our subscription services team , which includes headcount from crossix added in the fiscal quarter ended january 31 , 2020. the increase in headcount drove a $ 3.0 million increase in employee compensation-related costs ( includes an increase of $ 1.1 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period . there was an additional $ 4.6 million in data acquisition costs related to the acquired business of crossix . we expect cost of subscription services revenues to increase in absolute dollars in the near term due to increased usage of our subscription services . cost of professional services and other revenues increased $ 38.8 million , primarily due to a 49 % increase in headcount of our professional services team , which drove a $ 30.9 million increase in employee compensation-related costs ( includes an increase of $ 6.9 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including headcount from our recently acquired businesses added in the quarter ended january 31 , 2020. we expect cost of professional services and other revenues to increase in absolute dollars and as a percentage of revenue in the near term as we add personnel to our global professional services organization . veeva systems inc. | form 10-k 45 gross margin for fiscal years ended january 31 , 2020 and 2019 was 73 % and 72 % , respectively . the increase compared to the prior period is largely due to the continued growth of veeva vault and our newer multichannel crm applications that complement veeva crm , all of which have higher subscription services gross margins than our core veeva crm application . we expect gross margin to decrease in the fiscal year ending january 31 , 2021 due to the dilutive impact to gross margin from our recently acquired businesses , which we expect to be partially offset by growth of our vault products , which have a higher gross margin profile relative to our core crm product . operating expenses and operating margin operating expenses include research and development , sales and marketing , and general and administrative expenses . as we continue to invest in our growth through hiring , and as we realize the full impact of the additional headcount and operating expenses associated with crossix and physicians world , we expect operating expenses to increase in absolute dollars and may slightly increase as a percentage of revenue in the near term . we also expect stock-based compensation expense to increase in absolute dollars and as a percentage of revenue through the fiscal year ending january 31 , 2021 due to increased headcount and retention equity awards granted to certain employees associated with the acquisitions in november 2019. research and development replace_table_token_10_th fiscal 2020 compared to fiscal 2019. research and development expenses increased $ 51.1 million , primarily due to a 29 % increase in headcount during the period , which drove an increase of $ 39.7 million in employee compensation-related costs ( includes an increase of $ 14.9 million in stock-based compensation ) . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from crossix . additionally , there was an increase of $ 3.2 million in costs for increased computer equipment costs in our research and development organization . we expect research and development expenses to increase in absolute dollars and may increase as a percentage of revenue in the near term , primarily due to higher headcount , including increased headcount associated with our recently acquired businesses , as we continue to invest in our solutions and develop new technologies and as we experience the full impact of additional research and development headcount and expenses associated with our recently acquired businesses . sales and marketing replace_table_token_11_th 46 veeva systems inc. | form 10-k fiscal 2020 compared to fiscal 2019. sales and marketing expenses increased $ 41.5 million , primarily due to an increase of $ 31.0 million in employee compensation-related costs ( includes an increase of $ 9.2 million in stock-based compensation ) , which was driven by an 29 % increase in headcount . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from our recently acquired businesses . in addition , there was an increase of $ 2.1 million of amortization of purchased intangibles associated with our recently acquired businesses . we expect sales and marketing expenses to continue to grow in absolute dollars in the near term , primarily due to employee-related expenses as we increase our headcount , to support our sales and marketing efforts associated with our newer solutions and our continued expansion of our sales capacity across all our solutions , and as we experience the full impact of additional sales and marketing headcount and expenses associated with our recently acquired businesses . general and administrative replace_table_token_12_th fiscal 2020 compared to fiscal 2019 . general and administrative expenses increased $ 27.9 million , primarily due to an increase of $ 12.0 million in employee compensation-related costs ( includes an increase of $ 7.4 million in stock-based compensation ) , which was driven by an 35 % increase in headcount , and an increase of $ 7.0 million in legal fees related to litigation activity during the period . the increase in employee compensation-related costs is primarily driven by the increase in headcount during the period , including added headcount from our recently acquired businesses . there was an additional $ 1.5 million in costs for increased computer equipment costs and $ 1.3 million in one-time acquisition-related transaction costs for our recently acquired businesses . we expect general and administrative expenses to continue

