SAP SE - SAP STOCK NEWS

SAP reported its Q2 2021 financial results with cloud revenue rising 11% to €2.28 billion, bolstered by increased demand for the 'RISE with SAP' offering and strong customer momentum. Total revenue declined 1% year-over-year to €6.67 billion.

Operating profit fell by 23% to €0.98 billion, attributed to higher compensation expenses. Despite challenges, the current cloud backlog grew 17% to €7.77 billion. SAP raised its full-year outlook for cloud revenues, now expecting €9.3 to 9.5 billion, representing a 15% to 18% growth at constant currency rates.

BlackLine (Nasdaq: BL) announced that its cloud-based solutions for financial close complement SAP's RISE with SAP offering. This collaboration aims to accelerate digital transformations for businesses transitioning to SAP S/4HANA® Cloud. With an average payback period of less than a year and an ROI of 2.77x, BlackLine's solutions promise enhanced automation and internal controls. SAP recognized BlackLine with the 2021 Pinnacle Award for Partner of the Year, underscoring its importance in financial process automation. This partnership aligns with a growing demand for efficient financial automation across multiple industries.

Deloitte's Connectivity & Mobile Trends 2021 Survey reveals that the average U.S. household now has 25 connected devices, up from 11 in 2019. Key findings show that 31% of Americans feel overwhelmed by device management. 66% of households possess smart home devices, with many upgrading internet speed. 50% of adults had virtual doctor visits during the pandemic, with 82% satisfaction. The survey indicates substantial adoption of smartphone-based retail behaviors, anticipating continued usage post-pandemic.

SAP SE (NYSE: SAP) announced key investor events scheduled for June 2021. CEO Christian Klein will present at the Bernstein Strategic Decisions Conference on June 4 at 5:00 pm CEST. Additionally, the SAPPHIRE NOW Financial Analyst Conference will be held on June 15, featuring updates from the Executive Board on strategy and technology. Thomas Saueressig will speak at the Goldman Sachs Inaugural Digital Economy Conference on June 17. All presentations will be webcast live, with replays available on SAP's Investor Relations website.

On June 2, 2021, at the SAPPHIRE NOW conference, SAP SE (NYSE: SAP) launched the SAP® Business Network, aimed at fostering new business communities and enhancing sustainability. The event highlighted innovations such as the SAP Process Insights for business process improvement, the AI-driven Verify feature from SAP Concur® for expense auditing, and the no-code SAP Upscale Commerce solution to enhance direct-to-consumer engagement. Significant upgrades were also announced for the SAP Business Technology Platform, focusing on operational analytics and low-code capabilities, enabling better data insights for organizations.

SAP SE (NYSE: SAP) announced its vision to establish the world's largest business network during the SAPPHIRE NOW conference on June 2, 2021. The SAP Business Network aims to connect over 5.5 million organizations, enhancing collaboration and sustainability across supply chains. Additionally, SAP introduced RISE with SAP transformation packages tailored to industries, enabling better business processes. New sustainability products were also unveiled, including solutions for product lifecycle tracking and visibility, underscoring SAP's commitment to operationalizing sustainability as a core business process.

SAP SE (NYSE: SAP) announced the integration of its new Built-In Support feature, enhancing customer interaction through a contextually aware digital support assistant within applications. Leveraging AI and machine learning, this innovation aims to simplify support access, providing tools for rapid issue resolution and live expert assistance. The feature currently supports SAP S/4HANA Cloud, with plans to expand to other solutions. This technology focuses on improving operational efficiency and business continuity, positioning SAP to deliver an intuitive customer experience in line with modern expectations.

SAP SE (NYSE: SAP) announced that BITZER, a refrigeration and air conditioning technology manufacturer, has implemented the SAP Ariba Buying solution to enhance its procurement operations. This move aims to streamline processes, increase transparency, and support BITZER's global expansion. With the guidance of apsolut GmbH, BITZER seeks to standardize its procurement on a cloud-based platform, thereby reducing maverick spending and improving compliance with purchasing policies. The integration with SAP S/4HANA is expected to drive better collaboration with suppliers.

BlackLine (Nasdaq: BL) has been awarded the 2021 SAP Pinnacle Partner of the Year Award in the Solution Extensions category, recognizing its contributions as one of only 21 winners from over 20,000 SAP partners globally. This accolade reflects BlackLine's robust partnership with SAP and its innovative cloud-based solutions that enhance SAP technologies. BlackLine's offerings, such as SAP Account Substantiation and Automation, bring automation, control, and data integrity to finance departments, aiding businesses in their digital transformation journeys.