Summary of SAP’S Q4 and Full-Year 2023 Financial Statement  

SAP-Finacial-Statement-Q4

Recently, SAP, the German tech giant, released its Q4 and full-year 2023 financial statement. The Financial statements are prepared and consolidated in accordance with International Financial Reporting Standards (IFRS) endorsed by European union (EU). It had three parts in it. 

Financial Highlights:

SAP saw sequential growth in revenue and operating profit. This also included growth in current cloud backlog and cloud revenue. 

Non- Financial Accomplishments:

Cloud’s Role in this period:

The goal of SAP to lead the way as one of the top cloud companies has gained momentum in the fourth quarter of 2023. Sequential growth of cloud revenue and current cloud backlog was boosted by customer momentum.  

 

The rise in cloud revenue from EUR 17.0 billion to EUR 17.3 billion (25.5% growth) is expected in 2024. The key ingredients are RISE and GROW with SAP. RISE offers Customization and flexibility in business process especially in big enterprises, whereas GROW offers standardized operations to mid-size enterprises. 

Embedded with Generative AI, RISE with SAP enables customers to enjoy the full benefits of cloud technology. Insights into real time data with AI alongside makes room for informed decisions. Powered by Business AI further accelerates the productivity and supply chain value. 

 

Gartner named SAP S/4HANA cloud a leader in Cloud ERP for service-centric enterprises in its 2023 Magic Quadrant report. Gartner is an US-based consulting company, providing research and consulting services for businesses in IT sector.  

 

RISE with SAP package comes with business transformation tools, 

Business Technology Platform:

SAP BTP acts as a strong foundation for intelligent and sustainable enterprises. It makes businesses agile and resilient. BTP comprises three key areas, which powers the business application to be successful. 

Data analytics transforms raw data into actionable information and provides insights to make better decisions. With low code and no code offerings, IT professionals and business experts could bring innovative solutions to the table connecting business and IT. It also supports integrating SAP and third-party applications.  

Business Process Intelligence:

BPI provides a holistic view into business process. It acts as an enabler more than a software, which allows the organization to understand, innovate and transform the entire business operations continuously. It provides end to end(E2E) business transformation solution.

BPI is powered by Signavio through following solutions

SAP Signavio:

Signavio, a SAP business transformation suite, provides birds eye view into entire business processes and gives visibility into what needs to be improved in a business operation. This helps businesses to identify the complexities existing in their ERP landscape.

SAP-Signavio

SAP Cloud:

SAP Cloud is a cloud-based solution and service offered by SAP. It makes business runs smoothly and efficiently. It encompasses various offerings designed to help enterprise of all size to run their business. It manages and transforms end to end business operations digitally.

2024 Transformation Agenda:

As the future relies on Generative AI, SAP is undertaking a restructuring program, worth EUR 2 billion, aligning its workforce to future skillset requirements. This mainly focuses on the strategic growth areas, particularly Business AI. This also includes the following strategies.

These will strike right balance between experience and skill growth in AI. Reskilling of existing employees and recruiting experienced AI experts will bring life to 2024 agenda.

2025 Ambition

For SAP, 2025 is going to be another successful year. 

 

It expects, 

This financial statement gives deep insights into SAP’s commitment towards its goal of becoming a top cloud company. Bringing business automation to customers using cloud technology is SAP’s top priority. This is testified through SAP’s 2023 financial accomplishment. Cheers to more successful years. 

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