The News On January 23, 2024, SAP announced the results of its Q4 and fiscal year 2023 , along with an update of the company’s 2025 ambition . The ambition includes a shift of focus on key strategic growth areas and a restructuring program. This program will cost around 2.2 billion dollar and affect about 8,000 employees. Notably, SAP does not look at lay-offs but a “ voluntary leave program and internal re-skilling investments ”. No details are known yet. One of the core investment areas going forward will be Business AI; in addition, the company will strive to capture organizational synergies, leverage AI-driven efficiencies and prepare the company for the expected growth. Looking at the numbers, SAP had a very successful year, meeting or exceeding the outlook metrics set and communicated for 2023. SAP key financial results FY 2023; source SAP According to CEO Christian Klein, the “ current cloud backlog increased by 27 percent to reach an all-time high ” growth. This number and...
- CRM (and other) Thoughts from Down Under