In an interview with Fox Business News from Davos, Switzerland, SAP CEO Bill McDermott lays out the company’s plan to dominate in the cloud.
“We’re going for it!” pronounced an upbeat McDermott to Maria Bartiromo of Fox Business News during an interview in snowy Davos, Switzerland, venue of the World Economic Forum. McDermott was referring to SAP’s plans to increase cloud revenue seven-fold by 2020 and dominate best-of-breed players in the cloud.
McDermott defended the company’s decision to make growth a bigger priority than profitability in the short term so that SAP is able to more rapidly grow its market share in the cloud. “We are building a company for greatness in the long term,” he emphasized, adding that the cloud will eventually become just as profitable as the core, if not more so.
Watch the full interview