Nov 21, 2011, 10.27 AM | Source: CNBC-TV18
Though slowdown concerns are present, the buzz from SAP's annual customer meet in Madrid was optimistic, reports CNBC-TV18’s Kritika Saxena.
Kritika Saxena (more)
Reporter, CNBC-TV18 |
SAP's annual customer meet Sapphire has brought in a cacophony of partners and customers for SAP. Even though the meet comes at a time when the world is ridden with concerns over the global macro economic environment and the concerns over the European debt crisis, the mood is positive.
Customers say that IT budgets are expected to remain stable, but the key theme that dominates the conference is products and software innovation driving growth for CY12 despite cutting costs.
Speaking to CNBC-TV18 on the sidelines of the Madrid summit, the global co-chief executive officer of SAP, Jim Snabe, said emerging markets (EMs) like India will be the growth drivers of the future.
“We have some of the most advanced customers in India, some of the first movers in business software. We also have a lot of innovation and an open ecosystem to bringing in partners,” said Snabe.
Even the deal pipeline looks strong for SAP, and Snabe is confident that IT budgets will not be cut by customers. “We have an opportunity to go in and help companies reduce the costs of running so they can free up money for innovation and innovative software,” he added.
SAP's recently acquired firm Sybase says most of their expansion plans are India-focused.
Raj Nathan, executive vice president and chief marketing officer of Sybase tells CNBC-TV18 that they aim at increasing their headcount to thrice its since due to strong market traction.
Going ahead, SAP is bullish on financial services driving IT growth across geographies. And though the Eurozone slowdown remains a concern, with EMs pushing the growth trajectory, the company remains bullish about CY12.
Watch the accompanying video for more details..