Saturday, July 21, 2018

SAP CEO Bill McDermott is dominating cloud market of Europe

SAP CEO Bill McDermott is dominating cloud market of Europe
Image Credit: Business Insider
Software giant SAP is looking to continue its dominance of the cloud market by adapting to the constantly changing technology landscape.

Chief Executive Officer Bill McDermott told FOX Business’ Maria Bartiromo that the success of SAP’s cloud-based services is driven by working extremely hard at connecting their partners and customers with the supply chain whose demands are spread across mobile and social channels.

“Because that supply chain is global, [there are] lots of different partners and you have to optimize when a demand signal is sent, how do I fulfill an order, how do I give that customer exactly what they want, the way they want it, where they’re geographically located in real time. And that’s what we do,” McDermott said during an interview on “Maria Bartiromo’s Wall Street” on Friday.

The German software giant boosted its cloud business by 40% year-over-year, beating expectations by 5%. Its strategy to invest in the cloud seemed to have paid off as the company looks to increase its global growth.

“The market is good, Europe is good. We grow in Europe in double digits. We spend the market share in Europe,” McDermott said.

Orignal Article was published in Fox Business News