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SAP reports 247% 1Q growth in P.R., Caribbean region

German enterprise software developer SAP this week released results for the first quarter ended March 31, reporting a 247 percent growth of its business in Puerto Rico and the Caribbean, attributed directly to booming technology adoption by small and mid-sized businesses.

The year-over-year growth placed Puerto Rico and neighboring islands as the company’s fastest-growing territory in Latin America, SAP said in the report. As a whole, the company’s software sales and other services represented an increase in revenue of 18 percent in the Latin American region.

“The region is a real growth engine for SAP global,” said Rodolpho Cardenuto, president of SAP Latin America. “Our customer-centric strategy is paying off and more and more organizations choosing to be the best-managed companies in the world rely on our solutions.”

In his assessment of the quarterly results, Cardenuto pointed out “the maturity of the Puerto Rican small and mid-sided businesses when it comes to their choice of IT solutions.”

While the company released percentage increases, it did not disclose the growth in dollars. However, SAP noted improvements by industry, saying the use of its software among Puerto Rico’s insurance companies grew by 900 percent, consumer products by 700 percent and wholesalers by 67 percent.

“Customers again show that, quarter to quarter, that best practices for more than 25 industries developed by SAP really meet the specific needs of companies of all sizes,” said Andrés González, co-director of sales for SAP Puerto Rico the Caribbean.

“We are excited about what the future looks to have in store for us in innovation, especially with our implementation of SAP HANA in-memory computing, which will serve as the basis for a new generation of applications, unimaginable until recently,” González said.

SAP is using in-memory to create new full transactional and analytical applications. Thus, the traditional movement of the operational status data to the data warehouses will no longer be necessary because companies can run their analytics on real-time based on their operational data,” the executive concluded.

Of the other countries that SAP includes as part of its Latin American region, Mexico experienced a 63 percent increase in software revenue, Peru reported a 44 percent increase in the combination of software and service sales while Brazil and Colombia both reported 13 percent year-over-year quarterly increases. Argentina and Chile reported 8 percent and 7 percent increases, respectively.

Globally, SAP reported an 18 percent growth in total revenue to slightly more than €3 billion ($4.4 billion), for the first quarter of 2011, from €2.5 billion ($3.7 billion) during the same period in 2010.

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Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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