German Ambassador To State Of Kuwait Praises SAP's Focus And Investment Ambitions
KUWAIT CITY, Kuwait – May 16, 2013 – SAP, the world's leading business software company, today reaffirmed its commitment to the Kuwait market by hosting a high-profile, awareness-raising event for local CIOs.
The event was also attended by His Excellency Frank Marcus Mann, the German Ambassador to the State of Kuwait.Kuwait is central to SAP's ambitious investment in the MENA region in the coming years. The company opened new offices in Kuwait City last year to ramp up its local operations, and also hosted its first ever SAP Forum in the country to boost knowledge-sharing and connect with key industries.
Now in its 41st year, and with 238,000 global customers across 25 industries, SAP recently emerged as Germany's largest company by market capitalisation, and has experienced 13 consecutive quarters of double-digit software revenue growth.
MENA is a key market for SAP globally, as it seeks to double its addressable market, reach 1 billion people and generate €20 billion in global revenue by 2015.
At the heart of SAP's Kuwait push are cutting-edge technologies such as SAP HANA, an in-memory computing platform that revolutionises the ability to perform real-time analytics and develop real-time applications. Initially launched in 2011, the technology, which is deployable on premise or in the cloud, has enabled many customers worldwide to speed up business processes by over 100,000 times. Earlier this year, SAP launched Business Suite on HANA, which is the only business platform to successfully combine transactional applications with analytics in-memory.
“SAP's investment in Kuwait is hugely welcome, and is set to play a vital part in the country's development and economic diversification,” said HE Frank Marcus Mann.
“IT innovation is worldwide more important than ever before, and I am delighted that a German company shows its commitment to contribute to this development in Kuwait.”
Kuwait represents SAP's third largest market in the Gulf region. According to Business Monitor International, the country's 2013 IT spend is set to reach US$978m – a four per cent rise that has been fuelled by oil prices and government investment.
Outside of the business arena, SAP aims to boost local knowledge and stoke vocational skill sets through initiatives like the SAP University Alliance (UAP), which provides faculties with the tools and resources needed to teach students how technology can help enable integrated business processes and strategic thinking.
Supporting existing business, engineering and IT programs, the UAP provides hands-on experience of key SAP technologies, including enterprise resource planning (ERP), and puts theory into practice through demonstrations, case studies and research.
The UAP currently counts 31 members across the Middle East and Africa (MENA) region, and the company aims double that figure within the next four years.
“Every day we are growing stronger in Kuwait,” said Gergi Abboud, Managing Director, SAP Gulf.
“This is an extremely dynamic country that is encouragingly receptive to sustainable development. It has an excellent engineering pedigree, great educational facilities, and is a strongly desired location for high-tech, international companies. There is no doubt that Kuwait represents a hugely exciting opportunity for us as we seek to expand our ability to help businesses and organizations run better through IT innovation in areas such as analytics, mobility, cloud and in-memory computing.”