Appearing on CNBC’s Mad Money with Jim Cramer, SAP Co-CEO Jennifer Morgan gave a snapshot of the global economy during the COVID-19 outbreak and shared that the use of cloud-based SAP products provide leading indicators on what is happening in the business world.
Morgan noted that the world “went virtual overnight” as most employees started to work from home, and said that SAP has seen a spike in usage of Remote Work Pulse from Qualtrics, which enables companies to detect the sentiment of their employees since the crisis began.
Similarly, she said that employers are using the locate feature within SAP Concur software to track employees stuck overseas. While business travel has abruptly ended, other business expenses tracked by SAP Concur offerings confirm that activity in China “is picking up a little more.”
Morgan explained that Ariba Network is enabling companies to find new sources of supply when existing supply chains are disrupted. She told Cramer how one SAP customer that is building a new hospital in the U.S. was able to find a supplier with 500 hospital beds in less than 30 minutes using SAP Ariba Discovery.
When asked whether SAP might take advantage of current market conditions to make additional acquisitions, Morgan said, “We have a great portfolio…I’m very confident with the solutions we have right now.”