SAP SE - SAP STOCK NEWS

SAP SE (NYSE: SAP) announced that over 280 companies implemented SAP Ariba and Fieldglass solutions in Q3 2020, reflecting a surge in digital transformation amid ongoing economic challenges. John Wookey, president of SAP Intelligent Spend Management, noted that firms are focusing on digitalization to safeguard their operations. Noteworthy clients such as Acciona S.A. and Centro Médico ABC adopted these solutions, enhancing their procurement efficiency and supply chain visibility. Additionally, SAP reported more than 70 new customers, 150 contract expansions, and 220 renewals.

SAP reported a current cloud backlog of €6.6 billion, marking a 16% increase at constant currencies. Third quarter revenues saw cloud revenue rise by 11% to €1.98 billion, while total revenue declined 4% to €6.54 billion. Adjusted earnings per share (EPS) showed strong growth, increasing 26% to €1.32 (IFRS). Operating profit fell 12% year over year due to higher compensation costs. The company updated its full-year outlook, now expecting €8.0 - 8.2 billion in non-IFRS cloud revenue and raised its cash flow expectations significantly.

SAP has updated its 2020 business outlook due to muted recovery in demand amid reintroduced lockdowns. Expected non-IFRS cloud revenue has been revised down to €8.0-8.2 billion from €8.3-8.7 billion, while total revenue is now projected at €27.2-27.8 billion, reduced from €27.8-28.5 billion. Operating profit expectations remain at €8.1-8.5 billion. Despite these challenges, SAP has raised its cash flow outlook to €6.0 billion, up from above €5.0 billion. The company is also adjusting its mid-term goals, projecting more than €22 billion in cloud revenue by 2025, impacted by COVID-19 and currency fluctuations.

SAP SE (NYSE: SAP) announced an expansion of its industry cloud solutions portfolio to include retail, professional services, and industrial machinery and components (IM&C). These solutions, designed for specific industry needs, utilize intelligent technologies like AI and advanced analytics. This initiative aims to help businesses adapt to changing environments and drive profitable transformation. Additionally, SAP emphasizes the importance of partnerships in enhancing innovation and developing new applications tailored for these industries.

SAP SE (NYSE: SAP) has risen to No. 18 in Interbrand's Best Global Brands 2020 report, gaining two spots due to its effective response to the COVID-19 pandemic. The company’s brand value increased by 12% to approximately US$28 billion, surpassing the 9% growth of the overall top 100 brands. SAP was recognized for its contributions across 25 industries, providing solutions amid pandemic disruptions. This ranking reflects SAP's commitment to empathy and agility, positioning it alongside major technology firms like Apple and Amazon.

SAP SE (NYSE: SAP) has launched the SAP Customer Data Platform, aiming to transform customer experiences across various engagement touchpoints, including marketing, sales, and service. Announced at the SAP Customer Experience LIVE event on October 14, 2020, this platform integrates data from multiple sources to provide a unified view of customers. Key features include data connectivity, stringent privacy protocols, real-time analytics, and hyperpersonalization capabilities, addressing brands' needs for enhanced customer engagement and loyalty.

On October 13, 2020, SAP SE (NYSE: SAP) announced that IDP Education implemented SAP Ariba and Concur solutions to enhance its procure-to-pay processes globally. This digital transformation has led to a significant increase in procurement efficiency, resulting in A$5 million in cost savings, equating to 5% of IDP’s addressable spend. In the first phase since June 2019, IDP has created over 4,100 purchase orders and submitted 4,900 expenses. The partnership aims to streamline procurement, improve supplier collaboration, and enable data-driven decision-making.

SAP SE announced the milestone of surpassing 4,000 customers for its SuccessFactors Employee Central, a leading core HR solution. This growth reflects SAP's commitment to delivering flexible and intelligent HR solutions that enhance employee experience. The platform supports 42 languages and is localized in 99 countries, catering to global business needs. Notable companies such as Continental AG and Whirlpool Corporation utilize this solution, emphasizing its importance in modernizing HR processes. SAP continues to innovate, adapting to evolving business environments.

SAP SE has launched a new mobile app named Sail Insight in partnership with the Sailing Yacht Research Foundation to enhance the sailing experience for users globally. The app allows sailors to create and manage races while providing real-time data and analytics to improve performance. Available on iOS and Google Play, the app will be free for 2020, transitioning to a subscription model in 2021. Endorsed by World Sailing, this initiative aims to make sailing data more accessible, benefiting sailors, coaches, and fans alike.