SAP SE Reports 25% Revenue Growth in Q3 FY24, Credits Cloud Services Expansion
Bengaluru, October 15, 2024 - SAP SE, the global software corporation, has announced a significant 25% year-on-year revenue increase in the third quarter of fiscal year 2024, attributing this growth primarily to the expansion of its Cloud services.
In a recent visit to India, marking the first by both the executive and supervisory boards of SAP, Muhammad Alam, head of product engineering and a member of SAP's executive board, shared insights on the company's strategic direction, the impact of recent board changes, and the role of AI and Indian talent in SAP’s future at the company’s Bengaluru centre.
Board Changes and Strategic Direction
Alam, who recently joined SAP's executive board, discussed the implications of these changes. "If you look at our transformation to become a cloud-first company, having engineering representation at the board level was crucial," he explained. This move is seen as a strategic enhancement to SAP’s focus on cloud technologies, aiming to streamline decision-making processes that directly influence product development and innovation.
Focus on AI and Engineering
The conversation also touched upon the integration of artificial intelligence into SAP’s product suite. Alam highlighted the company's commitment to leveraging AI to enhance service delivery, noting, "AI is not just a buzzword at SAP; it's integral to our product strategy, enabling us to offer more predictive and personalized solutions to our clients."
Indian Talent and Global Impact
India plays a pivotal role in SAP's global engineering landscape. "India has always been a hub for innovation for SAP. The talent here is not only technically adept but also brings a unique perspective to problem-solving," Alam stated. He emphasized the importance of the Indian engineering teams in driving SAP's global initiatives, particularly in areas like AI and cloud computing.
This visit and the insights shared by Alam underscore SAP's commitment to innovation, particularly in AI and cloud services, while highlighting the strategic importance of its operations in India. As SAP continues to evolve, these areas of focus are expected to drive further growth and solidify its position in the competitive software industry.