Financial services, public sector drive Q2 SAP in LatAm
Financial services, retail and the public sector drove sales in Latin America for German corporate software giant SAP in Q2, with the s/4 HANA in-memory database platform forming the basis of digital transformation strategies, SAP said in a statement.
"The numbers are clear: solid growth in the cloud and in on-premise solutions reflects confidence in the Latin American market," said SAP's Latin America president Claudio Muruzábal.
SAP said that it saw double-digit growth in on-premise solutions, with Brazil and Mexico the standouts.
Meanwhile growth of the S/4 HANA platform, on which the company is basing most of its future strategy, grew by triple digits, reaching a total of 500 clients in the region.
SAP highlighted that Itaú Unibanco Holding, a Brazilian banking group with a presence in 19 countries, had adopted S/4 HANA to leverage big data, graphics and geospatial analytics (analysis of geographical data) and complex processes in real time.
Likewise, Mexican supermarket and department store chain Tiendas Soriana, which has 800 outlets in 208 towns and cities in Mexico, has deployed S/4 HANA to streamline the integration of operations of a recently-acquired competitor.
The company seeks to achieve savings of 50% in storage infrastructure.
S/4 HANA is designed to eliminate 40% of the IT workloads of systems like CRM and ERP by running applications on one system.
The business suite offers analytics capabilities to study customer behavior and requires less processing power, meaning cost savings.
Muruzábal told BNamericas in April that the digital economy represents only 4% of GDP in Latin America, half of the figure for Europe and the US therefore there is ample room for growth.
The executive has attributed adoption of its S/4 HANA business suite to large and small companies seeking greater efficiencies and insight into their customers during the economic downturn seen since 2015.
According to consultancy IDC, by 2018 at least 18% of IT spending in Latin America will go on cloud services.
The company reiterated its goal of reaching 100% of sales of its general business clients, which includes SMEs, via channel partners by 2020.
Globally, SAP reported an 11% increase in cloud and software revenue in constant currency and 33% growth in cloud subscriptions and support revenue in constant currency in the quarter.
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