Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
In this Cloud Wars Minute, Bob gives insight into SAP’s third-quarter cloud revenue, which has earned it the title of the second fastest-growing cloud vendor.
This Cloud Wars Minute is sponsored by Celonis, the market leader in process mining and execution management. The world’s top 2,000 process fanatics learned to fix process inefficiencies at Celosphere, the company’s annual conference, which was held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 stream here.
00:32 – Last quarter, SAP reported cloud revenue growth of 34%. In the third quarter, the organization reported a cloud revenue growth of 38%. In the third quarter, which ended on September 30, the total cloud revenue was $3.3 billion.
01:47 – SAP’s S/4 HANA Cloud ERP revenue was up by 98%, totaling $540 million in quarterly revenue.
02:05 – SAP is now the second fastest-growing major cloud vendor in the world behind Oracle. Both companies have done “terrific jobs of modernizing not only their technology but also how they think about the cloud, how they think about what customers wanted, how they engage with them, in this sort of culture that a winning cloud company has to have.”
03:20 – There are not many companies that can achieve a growth rate of 45% on a $13 billion business, which needs to be placed within the proper context.
03:47 – There will be upcoming content throughout the next week that will focus on SAP and what its executives are saying about its future direction.