Software giant SAP is looking to continue its dominance of the cloud market by adapting to the constantly changing technology landscape.
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Chief Executive Officer Bill McDermott told FOX Business’ Maria Bartiromo that the success of SAP’s cloud-based services is driven by working extremely hard at connecting their partners and customers with the supply chain whose demands are spread across mobile and social channels.
“Because that supply chain is global, [there are] lots of different partners and you have to optimize when a demand signal is sent, how do I fulfill an order, how do I give that customer exactly what they want, the way they want it, where they’re geographically located in real time. And that’s what we do,” McDermott said during an interview on “Maria Bartiromo’s Wall Street” on Friday.
The German software giant boosted its cloud business by 40% year-over-year, beating expectations by 5%. Its strategy to invest in the cloud seemed to have paid off as the company looks to increase its global growth.
“The market is good, Europe is good. We grow in Europe in double digits. We spend the market share in Europe,” McDermott said.
McDermott said Germany has been the most “unbelievable” growth market for SAP, but the U.K. is the fastest growing.
“When there’s change in the business model or the business process, SAP is necessary,” he said.
SAP is the world leader in the business software market with more than 90,000 employees in more than 180 countries. In fact, 91% of the Forbes 2,000 companies are SAP customers.
McDermott has been the SAP CEO since 2010 and during his tenure, the technology giant has more than tripled its market value and doubled its revenues.