Concur helps SAP meet quarterly expectations

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SAP, Europe’s largest software company, saw profits for the first quarter increase by 15 per cent compared with the first three months of 2014, hitting a total of $.13 billion.

Nearly 70 per cent of businesses are currently using at least one cloud-based application.

The acquisition of travel and expense management company, Concur, was noted to be a contributing factor to SAP’s cloud-based growth.

Subscription growth of enterprise cloud services is expected to grow at a rate of 86 per cent this year, of which subscribers to Concur and vendor-management system Fieldglass are expected to make up half.

SAP’s CEO McDermott says: “SAP’s first quarter shows the customers are embracing our platform, our applications and our business network.

“We are seeing heavy win rates, strong pipeline and enthusiasm around the world. Every business needs to transform to meet the opportunities of the digital economy.”

 

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