Software company SAP AG (NYSE: SAP) has announced a four-year plan worth US $450 million (AED1.65 billion) to up-skill local talent and drive sustainable innovation and growth in the Middle East and North Africa (MENA) region.
Announced today, March 12, the decision highlights the region as a fast-growth market and an integral part of the company’s overall business strategy.
The plan was made public at a press conference held in the United Arab Emirates and hosted by Werner Brandt, chief financial officer and SAP Executive Board member. It includes recruiting more than 500 additional employees, opening several new offices and expanding the company’s partner ecosystem and the SAP University Alliances program.
Additionally, significant increases will be made in the availability of localized service offerings, the company said.
SAP MENA will also establish a dedicated “Training and Development Institute” that aims to certify 2,000 new consultants within the next four years. This will triple the company’s existing consulting capabilities in the region and further support the localization of SAP solutions to meet fast-growing regional industry needs.
“The MENA market is remarkable in its growth potential, scope and readiness to innovate, and we strongly believe that now is the right time to take our operations and engagement to the next level,” said Brandt. “SAP’s additional investment will enable us to deliver leading-edge innovation, better localization and more talent to our customers and partners, as well as help develop crucial skills-sets and employment opportunities in MENA.”
SAP expects to significantly grow its MENA revenues by 2015, building on a double-digit compound growth rate between 2008 and 2011 and establishing the region as one of the company’s top-10 growth markets globally.
SAP’s plan to bolster its business across MENA comes following the company’s best-ever financial year in 2011, with global software revenue increasing 25 percent at constant currencies to EUR 4 billion and IFRS total revenue increasing 14 percent to EUR 14.2 billion.
Photo courtesy: SAP