SAP launches major software overhaul

SAP launches major software overhaul

SAP has rolled out the most high-stakes overhaul of its core software line in over two decades, intending to convince multinational corporate customers that its software can now run their most critical applications to forecast business conditions.

SAP is a German multinational software corporation, which enables enterprise software to manage business operations and customer relations. The company said that its extensively used suite of corporate planning applications and newer cloud-based Internet software are prepared to work together using a single, modern user interface. According to analysts, this indicates hundred or even thousand-fold improvements in SAP data-crunching times.

The unified database platform, dubbed S4 Hana, assures to cut the time it takes to collect business accounts and forecasts to minutes, instead of hours or days, by analyzing vast amounts of data in local memory in place of slower magnetic disk drives. Chief executive Bill McDermott said during SAP's annual capital markets meeting at the New York Stock Exchange that he expects a good growth out of this and they are actually ready to come out and start accelerating.

Well-known software makers like SAP are trying to increase Internet software sales and fight off pure cloud-based rivals such as Salesforce. com and Workday. All major database vendors together with Oracle, IBM, Microsoft and Teradata also provide `in-memory' versions and dozens more rivals supply predictive analytics software in the cloud.

According to some analysts, SAP has staked out a big and early lead in the market for real-time business planning software by signing up about 2,000 of its corporate customers to Hana. SAP's existing Business Suite is utilized by about 50,000 multinationals to manage financials, sales and marketing and manufacturing, and leads to big profits.

Accounting requires an elaborate scheduling effort in most firms, which is known to managers as quarterly closing and involves synchronizing financial data to produce a snapshot in time.

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