FEB 5, 2014 9:19am ET

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SAP’s McDermott Plans for More Client Revenue as Cloud Grows


(Bloomberg) -- SAP AG co-Chief Executive Officer Bill McDermott, targeting the growing online software market, said he plans to tap a greater portion of customers’ spending.

“We’ll lead with the cloud,” McDermott told investors in New York today. Today’s clients spend about 5 percent of their technology budgets with SAP, he said. “Why not 20?”

The remarks by McDermott -- an American who will take over as sole CEO in May -- come two weeks after the German software maker cut its profit forecast. The biggest supplier of business applications is reconfiguring its products for the cloud, part of a trend transforming sales and development across the technology industry.

SAP, whose software helps clients from Coca-Cola Co. to Bayer AG manage finances and supply chains, has 5,000 sales people working on cloud technology. “SAP is a growth company and it is our intent to remain a growth company,” the 52-year- old said.

Walldorf, Germany-based SAP’s competitors Oracle Corp. and Salesforce.com Inc. are also vying for sales among businesses that don’t want to manage and update their software and prefer to outsource the job to the companies that wrote the programs.

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