SAP to Accelerate Shift to Cloud Services With New Software Package

   By Hans-Joachim Koch 
 

SAP SE is planning to significantly accelerate its path toward becoming a cloud-based provider with a new software offering, the company said.

The product, named "Rise with SAP", is meant to simplify the transfer of core processes for corporate management to the cloud via SAP's S/4Hana database technology.

The offering will begin affecting sales in the second half of the year and then more so from 2022 onward, when greater penetration is expected. With the new offering, SAP aims to have existing customers who are already using the company's management software move to the cloud, it said.

This strategy is a core element of the company's aim to achieve the target of at least 22 billion euros ($26.76 billion) in cloud revenue by 2025. In 2020, the figure was EUR8.1 billion, and the outlook for the current year is EUR9.1 billion to EUR9.5 billion, the company said.

Rise with SAP is meant to run on the SAP platform, and the hardware--meaning data centers--are also included in the package, according to the company.

Write to Hans-Joachim Koch at [e-mail]

(END) Dow Jones Newswires

January 27, 2021 10:14 ET (15:14 GMT)

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