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SAP: UPDATES FOR CLOUD ONLY Featured

 SAP develop new ERP capabilities and artificial intelligence features only to cloud products, the company said this month.

Christian Klein, CEO of the giant software company, made the pronouncement during SAP’s recent earnings webcast for the second quarter ended June 30. Those imrpvoements be delivered by the SAP Rise and Grow platform. Rise is designed for customers to move to the cloud via a package of “tailor-made ERP software, transformation services, business analytics, and partner expertise”, according to the company’s website.  Grow is described as ready-to-run Cloud ERP with the S/4HANA Cloud, public edition. For the second quarter, after-tax profit was roughly $3.76 billion, more than 11 times the profit in last year’s corresponding period. SAP reported revenue of about $8.4 billion for the most recently ended quarter, an increase of 5 percent over a year ago, up 8 percent in constant currency. Cloud revenue reached approximately $3.69 billion, a 22 percent rise and revenue for Hana was about $915.3 million, rising 74 percent, 79 percent in constant currency.

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