SAP News Overview for April 2023 - Safe O'Clock

SAP News Overview for April 2023

May 2, 2023

New SAP office in San Francisco

SAP is constantly expanding to make its services available to more customers. The company recently announced the opening of a new office at 135 Townsend Street in the SoMa area of San Francisco.

The choice for this place was not accidental – the company decided to open a new point in the center of technological progress. The new office will offer employees new, improved working conditions, as well as opportunities for closer cooperation with customers and partners.

“San Francisco is the capital of the tech industry and one of the top global markets for talent,” сommented Yaad Oren, managing director of SAP Labs US and head of SAP Innovation Center Network, SAP. “With more than 50% of the world’s venture capital funding deployed here, it is a vital region. SAP is doubling down on our commitment to this epicenter of innovation with our newest office and this next-generation approach to work.”

AMD chooses SAP S/4HANA Cloud

It was recently announced that AMD (NASDAQ: AMD), one of the largest companies in the field of high performance and adaptive computing, has become an SAP customer by choosing a private version of SAP S/4HANA Cloud. This decision marked a significant milestone in AMD’s digital transformation journey, as well as strengthening the strategic partnership between the companies.

“AMD needs software that can scale with our business and provide the necessary resilience across our mission-critical applications. RISE with SAP was the perfect solution,” commented Hasmukh Ranjan, CIO, AMD. “It’s a catalyst to productivity that removes barriers to innovation and helps us strategically position our technology investments for the future.”

SAP revenue growth

In May, SAP reported first-quarter earnings that were above analysts’ expectations. This was largely facilitated by the development of the cloud business. At the same time, however, the forecast for the year was lowered due to the sale of the Qualtrics unit.

Earlier in January 2023, the company announced its plans to cut 3,000 jobs. This decision was driven by a desire to cut costs. However, no further restructuring is expected at this time. In addition, SAP plans to use artificial intelligence technologies such as generative AI in their products.

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