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SAP eyes 50% increase in sales by 2020

22/01/2015 by Sharon Shahzad

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German software giant SAP said Tuesday it aims to lift annual revenues by around 50 percent to 26-28 billion euros ($30-32 billion) by 2020, thanks to cloud or Internet-based computing.

"SAP continues to expect fast growth in its cloud business," the company said in a statement, unveiling a sales projection for 2020 for the first time. "We had exceptional growth in our cloud business," in 2014, said chief financial officer Luka Mucic.

"We expect cloud subscriptions to exceed software license revenue in 2018. At that time SAP expects to reach a scale in its cloud business that will clear the way for accelerated operating profit expansion," he said.

Cloud computing is a way of delivering different services -- such as servers, storage and applications -- to an organisation's computers and devices through the Internet.

It can allow companies to reduce their investment in equipment and maintenance expenses.

This article has been extracted from http://www.expatica.com, please click on this link to read the article in full http://www.expatica.com/de/news/country-news/SAP-eyes-50-increase-in-sales-by-2020_446357.html

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, IT Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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