SAP SE Reports 25% Revenue Surge in Q3 FY24, Credits Cloud Services Growth

Bengaluru, India - SAP SE, the global software leader, has announced a significant 25% year-on-year revenue increase in the third quarter of Fiscal Year 2024, attributing this growth predominantly to the expansion of its Cloud services. This financial milestone coincides with the inaugural visit to India by SAP’s executive and supervisory boards, highlighting the strategic importance of the Indian market in SAP's global operations.

During their visit to SAP’s Bengaluru center, Muhammad Alam, head of product engineering and a newly appointed member of SAP’s executive board, engaged in a discussion with Shivani Shinde. The conversation shed light on SAP's strategic shifts, the role of engineering, and the integration of Artificial Intelligence (AI) into SAP’s offerings, alongside the pivotal role of Indian talent.

Board Restructuring and Its Impact

Alam discussed the recent changes within SAP’s executive board, emphasizing the transformation aimed at enhancing SAP's capability to become a more dynamic, cloud-first enterprise. "If you look at our transformation to become a cloud-first company, the recent changes in the board composition have been pivotal. These changes are not just about new faces but about bringing in expertise that aligns with our strategic direction towards AI and cloud computing," Alam explained.

SAP's commitment to innovation through AI and cloud technology is evident as it continues to leverage the vast pool of engineering talent in India. "India is not just a market for us; it's a hub for innovation, engineering excellence, and a critical part of our global strategy," Alam added.

This visit and the subsequent discussions underscore SAP's ongoing commitment to fostering growth, innovation, and leveraging AI to enhance its cloud offerings, positioning India as a cornerstone in its global strategy.

(Edited excerpts from the interview were used in this news report.)