I’m grateful to see everyone here this morning. Welcome to the UBS Technology Conference. I’m Michael Briest, the person heading up our European software division at UBS. It’s a pleasure having Dominik Asam, CFO of SAP, joining us today.
Now, let’s jump into our question-and-answer session. We have around thirty minutes, and I encourage you to use the QR code on your desks to submit any questions you might want to ask Dominik. I’ve got a few questions prepared, but I always welcome fresh input.
It seems like every conference these days kicks off with a question about the broader economic picture, so let’s start there. You’re doing remarkable work in advancing your customers toward the next era of ERP solutions. Many of the sectors you cater to are facing financial strains, and there’s a fair amount of political instability throughout Europe, including right at home. Given these challenging conditions, what do you believe convinces customers to commit to these long-term migration projects? What value do they perceive? And are you sensing any more reluctance now compared to three or six months ago?
Dominik Asam:
The predominant advantage for us right now is the current upgrade cycle, as many customers need to switch to the latest generation of SAP systems. The ongoing advocacy for cloud benefits has been progressing well. Customers are starting to recognize the distinct advantages of having AI integrated into cloud services.
Admittedly, we do face macroeconomic challenges, and these are reflected in certain sectors. Take, for example, Fieldglass involving temporary workers or Concur concerning travel expenses, and even the Ariba network. These areas are certainly feeling the economic pinch.
