SAP Reports Rapidly Growing Cloud Computing Revenues

Enterprise software vendor SAP has reported that for 2015 it saw a 103 percent increase in new cloud computing bookings. The firm’s cloud and software revenue grew 20 percent for the year to hit ?2.30 billion. The company forecasts continued growth in cloud subscriptions, and said it expects cloud revenue will surpass its traditional licensing revenue by 2018.

SAP also said that its SAP S/4HANA customers doubled quarter over quarter, and it now has 2,700 organizations using the business suite that runs on SAP’s in-memory platform.

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