Software Application (SAP) has predicted that the value of global business done in the cloud would hit the $90 trillion mark by year 2020.
Chief Executive Officer of SAP, Bill McDermott, made the prediction in his keynote address at the company's just concluded annual SAPPHIRE NOW conference in Orlando Florida, United States. McDermott said the only way forward for businesses now is to run simple. He said SAP has bold vision for business and that with its new consumer software, SAP Cloud on HANA, businesses can reduce complexities in their processes. He added that companies of every size and industry are simplifying and transforming their business with cloud solutions from SAP AG. At the conference customers reeled out their successes and gave diverse examples of how cloud-based technologies are helping to fuel new business innovation and drive better outcomes and faster. In Nigeria, most technology companies are beginning to invest in cloud computing, owing to its importance on cost effective business. However some are are still skeptical about its security vulnerabilities, which they said would lead to complete data loss, should information stored in cloud is hacked by unauthorised persons.
Cloud computing allows users to store data and programs on offsite computers and access them via the Internet.
The company also announced plans to bring industry solutions to the cloud by combining its unrivaled expertise in industry-specific business processes with the technical creativity of its global ecosystem and broad customer base. To meet this goal, SAP has created a dedicated Industry Cloud organisation, led by Simon Paris, in which the company’s historic industry strength will be used to develop prescriptive, industry-based cloud road maps that will help simplify and transform businesses.
SAP also promised to co-innovate with customers and partners to deliver industry-specific solutions expected to rapidly proliferate across the 25 industries SAP serves. In the industry cloud model, partners and customers are envisioned to co-innovate with SAP on industry cloud offerings. SAP HANA Enterprise Cloud, a fully managed, subscription-based cloud service used by customers today to run mission-critical SAP applications and manage vast amounts of Big Data all on one real-time business platform.
“Working in industries with highly specialized challenges, we will focus on our customers’ most relevant business problems and then work creatively and collaboratively to develop industry cloud solutions,” said Paris.
“With SAP’s proven integration, consistency and coherency across all lines of business, mobile, analytics and technology, we are primed to deliver the deepest and broadest industry cloud solutions in the world, offering tremendous value to our significant customer base, our-ever growing number of new SAP customers and the global SAP ecosystem. To further support the ecosystem to take advantage of the market opportunity around SAP becoming the cloud company powered by SAP HANA, partners can now develop applications also in the cloud.
SAP has created a simple, quick and cost-effective way for partners to develop applications that leverage the full power of game-changing in-memory Big Data technology from SAP without the need to set up and operate infrastructure.
Applications developed in the cloud can be deployed and run on both SAP HANA Cloud Platform and on premise at a customer’s site. To develop and test the back-end integration capabilities of applications more easily and rapidly, partners can also leverage pre-configured enterprise resource planning systems from SAP in the cloud, which can be ordered via SAP Store for attractive subscription rates.
These enhancements serve to enable even more business opportunities for the partners by simplifying the development stage and shortening time to value.
Today however, the term Internet of Things (commonly abbreviated as IoT) is used to denote advanced connectivity of devices, systems and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains and applications.
It has been estimated that nearly 26 billion devices will be on the Internet of Things by 2020.
According to a recent survey and study done by Pew Research Internet Project, a large majority of the technology experts and engaged Internet users who responded about 83 percent agreed with the notion that the Internet/Cloud of Things and embedded and wearable computing will have widespread and beneficial effects by 2025.
SAP Business Suite is a bundle of business applications that provide integration of information and processes, collaboration, industry-specific functionality, and scalability. SAP Business Suite is based on SAP's technology platform called NetWeave.
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