SAP boss Christian Klein defends himself against allegations that the software company adjusted to the cloud business too late. “Our cloud turnover has recently increased by 17 percent and now corresponds to a third of our total turnover,” he said in an interview with WELT AM SONNTAG.
All indicators pointed in the right direction. “We have only been on the road for nine months with the new strategy, the successes are already more than obvious.” SAP is increasingly relying on offering its software as a service over the Internet – and to be able to record steady rental income in return.
Despite everything, SAP is only rated low on the stock exchange compared to other cloud providers such as Amazon or Microsoft. “You can achieve high market capitalization today with a very strong cloud business,” said Klein. SAP also has a very strong licensing business, “which is apparently not rated very highly on the capital market”.
The new strategy aims to change this perception. “The last few quarters are the best proof that our strategy is right.” SAP is gaining market share, customer satisfaction is increasing, and the solutions offer customers added value. “If all of this is correct, then the capital market and share price will follow.”
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