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22 Apr 2021
Hyperscale friends with benefits
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Hyperscale friends with benefits
SAP SE (SAP:ETR) | 0 0 0.0%
- Published:
22 Apr 2021 -
Author:
Slowinski Stefan SS | Castillo-Bernaus Ben BC -
Pages:
19
SAP: Outperform, EUR135 TP / USD160 TP (ADR)
We have published three in-depth reports on Global Enterprise Software; Hyperscalers and the Battle of Industry Clouds, The Cloud Scanner Survey, ALPHABET A: Stairway to Heaven. As part of our research we upgraded SAP to Outperform, EUR135 / USD160 (ADR) target price. This report offers a summary overview of our thesis on SAP specifically.
Global Enterprise Cloud Scanner Survey
We have used an external entity to gather answers to 40 questions from 100 CIOs and software procurement professionals plus 75 software resellers in order to better understand the customers and agents'' positioning on the topics that matter.
In a separate report (The Cloud Scanner Survey) we provide the full results of the completed survey, while in the deep-dive report (Hyperscalers and the Battle of Industry Clouds) we combine the results of our survey with our own fundamental research to draw our conclusions. Who stands to gain and who stands to suffer? And ultimately; which companies exposed to this cloud transition should you invest in, and which companies should you avoid.
Hyperscale partnerships key to unlocking Cloud potential
For SAP, the hyperscale partnerships should help accelerate its customers'' shift to cloud ERP, creating cross selling opportunities for its broad range of increasingly integrated application and technology offerings. In addition, both SAP and Salesforce scored well in our Cloud Scanner Survey as 83% of respondents said that pre-integrated suites of offerings were preferable to best of breed (''suite part of the cycle''), while both companies scored as leaders across many cloud categories. SAP scored as the leading overall strategic cloud SAAS vendor, and #4 PaaS provider (behind the big 3 hyperscalers). Both SAP and Salesforce are also advanced in their Industry Cloud developments, and will be increasingly strategic cloud partners for enterprises. For SAP, we are ahead of consensus cloud...