SAP SE Reports Significant Revenue Growth, Highlights India's Role in Global Strategy
Bangalore, October 13, 2023 - SAP SE, the global leader in enterprise software, announced a remarkable 25% increase in year-on-year revenue for the third quarter of fiscal year 2024. This growth is primarily attributed to the expansion of their Cloud services, marking a significant milestone in the company's strategic shift towards cloud computing.
During a recent visit to India, marking the first time the company's executive and supervisory boards convened in the country, Muhammad Alam, head of product engineering and a member of SAP SE's executive board, shared insights into the company's evolution and its focus on engineering, artificial intelligence (AI), and leveraging Indian talent.
In an exclusive interview at SAP's Bangalore center, Alam discussed the recent changes within SAP's executive board and their implications. "The transformation to become a cloud-centric company has been profound," Alam stated. "The inclusion of diverse expertise in our board has not only streamlined our strategy but has also enhanced our decision-making process, ensuring that we are agile and forward-thinking in our approach."
Alam highlighted India's critical role in SAP's global strategy, noting the country's robust talent pool in technology and AI. "India is not just a market for us; it's a hub of innovation and engineering prowess. The talent here is pivotal in shaping the future of SAP's product offerings," he added.
SAP's focus on AI and machine learning technologies is set to redefine how businesses operate, with India playing a central role in this technological advancement. The company's commitment to investing in AI research and development in India was also underscored during the visit.
The executive board's visit not only signifies the strategic importance of India to SAP but also reflects the company's ongoing efforts to integrate and utilize local expertise in its global operations, thereby fostering a collaborative environment that drives innovation.
About SAP SE
SAP SE is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. Known for its ERP (Enterprise Resource Planning) software, SAP has been expanding its offerings to include cloud solutions and AI-driven technologies to cater to the evolving needs of businesses worldwide.