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WALLDORF — SAP SE today announced its financial results for the first quarter ended March 31, 2024.

• Cloud revenue up 24% and up 25% at constant currencies, supported by 32% Cloud ERP Suite revenue growth at constant currencies
• Current cloud backlog of €14.2 billion, up 27% and up 28% at constant currencies
• IFRS cloud gross profit up 27%, non-IFRS cloud gross profit up 27% and up 28% at constant currencies
• IFRS operating loss of –€0.8 billion due to a €2.2 billion restructuring provision
• Non-IFRS operating profit up 16% and up 19% at constant currencies even including higher share-based compensation resulting from strong share price increase
• Outlook 2024 reaffirmed

“We’re off to a great start in 2024 and we’re confident we’ll achieve our goals for the year. Looking ahead, we have powerful growth drivers in place – Business AI, cross-selling across our cloud portfolio, and winning new customers particularly in the midmarket. The strength of our current cloud backlog reaching a record growth rate is a testament to that momentum. Our transformation program is also well on track and will help us to capture this growth and increase efficiency.”

Christian Klein, CEO

 

“In the first quarter we successfully kicked off the implementation of our transformation program thereby allowing us to focus our investments on the Business AI opportunity while decoupling expense from revenue growth. We are also very pleased by the unabated growth momentum of the Cloud ERP Suite, reflecting the market’s secular shift towards integrated cloud solutions.”

Dominik Asam, CFO

Read the Quarterly Statement

Press Contacts:
Joellen Perry, +1 (650) 445-6780, joellen.perry@sap.com, PT
Daniel Reinhardt, +49 (6227) 7-40201, daniel.reinhardt@sap.com, CET

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Success can take many forms. It’s achieving AI-driven results faster and smarter. It’s unlocking more meaningful and aspirational career development experiences. It’s empowering employees and managers through simple HR-related tasks in the flow of work, freeing up more productive time across the organization.

And for you and your business, you can tell all those success stories – and more – with the SAP SuccessFactors HCM suite and our first half 2024 release.

As your organization and employees begin to embrace AI, HR has the opportunity to drive new levels of employee productivity, engagement, and growth. SAP SuccessFactors HCM can give you everything you need – the global foundation, skills framework, people-first experiences, and purpose-built AI capabilities – to help take HR to the next level. With the SAP SuccessFactors first half 2024 release, we are delivering more than 250 innovative features and enhancements.

SAP Business AI

In 1H 2024, we are thrilled to introduce more than 25 new AI capabilities to enable better employee experiences and new levels of productivity.

Among these capabilities include the ability for applicants to provide skills during the application process. This can enable recruiters to see a skills compatibility for each applicant based on matching the applicant’s skills and the job requisition, helping improve applicant screening and time to hire. Furthermore, personalization in SAP SuccessFactors Opportunity Marketplace is enhanced with new AI-driven recommendation categories, “Ignite Your Role” and “Reach Your Aspirations.” These guided experiences can enable employees to proactively take steps to reach their development goals.

Assisted screening and skills match available in 1H 2024 release. Click to enlarge.

Generative AI continues to be embedded across the SAP SuccessFactors HCM suite, including new capabilities to help employees create ready-made performance and development goals and AI-assisted writing to help improve the quality, clarity, and conciseness of writing across a variety of areas within SAP SuccessFactors solutions.

Further, with this release, insights based on an employee’s compensation and job history are available to help support managers in having effective and well-informed compensation discussions. 

The AI copilot that truly understands your business Meet Joule

We have also added more than 15 new Joule capabilities in this release to help both managers and employees get work done in a conversational way, such as creating or changing a position, creating spot awards, clocking in and out, and viewing pay statements as well as time capabilities like requesting time off, checking leave balances, and syncing holidays to Outlook calendars while managers can review and approve time off. Further, employees can now clock in and out using Joule, Microsoft Teams, or the SAP SuccessFactors Mobile app.

SAP SuccessFactors Employee Central

We are excited to unveil two new people profile experiences – the profile preview and the spotlight view. The profile preview can provide a snapshot of key areas of the employee profile, including job, manager, location, and contact details, to quickly view and connect with others. Additionally, the spotlight view can showcase employee skills and competencies, mentoring and target roles, and other relevant personal and organizational information.

We are also introducing a new org chart experience with a refreshed look and feel. Available on desktop and mobile, users can explore their organizational structure with improved expand and collapse capabilities, which helps provide full accessibility to an employee’s profile preview, with an option to open the new spotlight view.

The new org chart experience. Click to enlarge.

Customers can now automatically process new hires from SAP SuccessFactors Recruiting and SAP SuccessFactors Onboarding into SAP SuccessFactors Employee Central. This capability helps further reduce the time to hire, which is especially important with mass, seasonal, and high-volume hiring.

SAP SuccessFactors Employee Central Global Benefits

With this release, we are pleased to introduce a new benefits enrollment experience for insurance, savings, and pension benefit types. Available on both desktop and mobile, the guided experience for benefits elections can give employees increased convenience with improved navigation and increased confidence with side-by-side plan comparisons and embedded instructional text. Additionally, employees can update dependent information and manage beneficiaries directly from the benefits enrollment process, which helps further streamline the enrollment experience.  

SAP SuccessFactors Time Tracking

We are thrilled to share the launch of a new time sheet experience that integrates the latest version of My Timesheet in SAP S/4HANA with SAP SuccessFactors. Employees can now record time for payroll, as well as against activities and cost objects, from a single time sheet across applications. This helps organizations leverage real-time connectivity between HR and finance operations to keep track of employee activity and labor costs and to pay employees accurately and on time.

Additionally, a new monthly calendar view for time sheets can give employees and managers a complete picture of recorded time over a month. Users can drill down into specific days and submit or approve time for pay periods beyond a week, such as biweekly or monthly.

For managers, a new time approval center helps simplify approvals with a centralized dashboard highlighting anomalies for swift resolution. Managers can monitor team working hours effectively, helping to ensure accurate and timely payroll processing.

SAP SuccessFactors Onboarding

With enhancements to the onboarding journey experience, new hires can now use the new Your Onboarding Checklist page to reference and complete all tasks – onboarding data collection, compliance tasks, additional onboarding tasks, and exploring the onboarding guide – from one place with a single view. Available for new hires, rehires, internal hires, and employees with global assignments, this improved experience can save time for onboarding participants while helping to ensure productivity from the start.

The new onboarding journey experience. Click to enlarge.

And that’s only a fraction of all the innovations we’re bringing to customers in 1H 2024. There’s much more in the release, including new and exciting updates in:

• Generative AI and Joule capabilities
• SAP SuccessFactors Opportunity Marketplace
• SAP SuccessFactors Compensation
• SAP SuccessFactors Succession & Development
• SAP SuccessFactors Incentive Management
• SAP SuccessFactors Work Zone

Read the SAP SuccessFactors first half 2024 release highlights brochure and watch the 1H 2024 release highlights video to find out more.

Bianka Woelke is group vice president of Application Product Management at SAP.

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Bitcoin has a new countdown after the halving as the days of a sub-$100,000 BTC price are “numbered,” a new analysis suggests.

Liquid staking tokens on EigenLayer will require more utility in the decentralized finance space to avoid a potential yield crisis in the future.

HANNOVER — SAP SE (NYSE: SAP) today announced AI advancements in its supply chain solutions that will unleash a transformative wave of productivity, efficiency and precision in manufacturing. AI-driven insights from real-time data will help companies use their own data to make better decisions across supply chains, streamline product development and improve manufacturing efficiency.

SAP at Hannover Messe: Bring out new manufacturing excellence Learn how

“Businesses today are confronted with challenges ranging from supply chain disruptions and labor shortages to geopolitical uncertainties,” said Muhammad Alam, member of the Executive Board of SAP SE, SAP Product Engineering. “SAP recognizes the imperative for agility and intelligence, driving innovation with AI-powered solutions to streamline supply chain and manufacturing processes. Companies can enhance operational efficiency and improve supply chain resiliency while delighting customers with superior service, paving the way for sustained growth and market competitiveness.”

Accurate and relevant real-time information helps mitigate the impact that supply-chain disruptions have on suppliers, manufacturers and distributors worldwide. SMA Solar Technology AG and other customers have already witnessed the benefits of SAP’s solutions, including an approximately 15% increase in supply chain workforce productivity, a 10% decrease in overall supply chain planning costs and a 10% reduction in inventory carrying costs and stock turnover rate.

“SMA Solar modernizes its manufacturing execution systems to support sustainable, risk-resilient manufacturing operations with the power of AI-enabled visual inspection in the SAP Digital Manufacturing solution,” said Heiko Kehm, SMA Solar head of IT Order to Cash.

Sixty-three percent of supply chain executives and 52% of operations executives have an AI strategy linked to business objectives, according to “The Importance of AI in Supply Chain and Operations,” a global 2024 IDC InfoBrief sponsored by SAP*. Fifty-one percent of the 2,000 survey respondents are embedding AI into supply chain planning business processes and key applications for real-time decision-making. Another 58% are using AI to increase operational efficiency and employee productivity.

Key improvements to SAP’s supply chain solutions to support customers’ AI-centric strategy include:

• Optimizing decisions across the supply chain with AI-driven insights: Companies can now leverage higher volumes of machine data and integrate AI-driven visual inspection by computer into their production processes, enabling a remarkable increase in quality through automation.
• Streamlining product development: Product developers can now use SAP’s AI copilot Joule to gather and enhance new product ideas quickly and effectively using natural language queries. Joule also helps tag product designs with business data, so they visually contextualize business-critical information.
• Detecting equipment anomalies: Using AI, asset operators can proactively address potential breakdowns based on sensor data collected from smart devices and edge gateways. This new capacity utilizes the cutting-edge Cumulocity IoT platform from Software AG, which is planned to be embedded in the SAP Asset Performance Management application in Q3.
• Improving field response: Customers can optimize driving routes and allocate job assignments efficiently with integrated real-time traffic data and machine-learning-trained models, which enable the right field service technicians to reach their destinations on time.

Find more details about the innovations SAP will show at Hannover Messe here.

Visit the SAP News Center. Follow SAP at @SAPNews.

*IDC InfoBrief, sponsored by SAP, The Importance of AI in Supply Chain and Operations, document #US52042224, April 2024.

About SAP

As a global leader in enterprise applications and business AI, SAP (NYSE: SAP) stands at the nexus of business and technology. For over 50 years, organizations have trusted SAP to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit www.sap.com.

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