SAP, the world's largest business software maker, is planning to raise their 2015 sales target after earning record-high annual profits. The company is also setting a double-digit growth goal for 2012. With these figures and plans, the company negated all reports of economic slowdown in Europe.
Not so long ago the biggest rival of SAP, Oracle, reported that they faced an unexpected slowdown in earning and sales growth, however. This led to worries about spending on corporate IT. But, on the other hand, IBM and Intel recently reported considerable margins giving hope that the sector can survive slow economic conditions.
Co-chief executive at SAP, Bill McDermott, commented, "If you look at Italy, Spain, Portugal -parts of Europe that people have expressed concern on - we've grown over 20 per cent in these markets," as reported by The Financial Times.
McDermott further suggested that rather than focusing on sales companies should focus on innovation, customers, people and also "leading in a certain sense."
SAP acquired SucessFactors for $3.4 billion last December. This deal may help SAP achieve €21 billion in sales by the year 2015, whereas the earlier sales target was €20 billion.
For the record, the total revenue of SAP increased by 14 percent to reach €14.2 billion in 2011, this does not include the takeover of SuccessFactors, however.