Takeaways From Our Post-Sapphire Debrief With SAP Partner

研报英文原文证据摘录

Takeaways From Our Post-Sapphire Debrief With SAP Partner

Flash Note Technology | Software

May 19, 2026

SAP SE Kirk Materne, CFA Peter Burkly 212 497 0873 212 497 0831

SAP-ETR | €147.86 kirk.materne@evercoreisi.com peter.burkly@evercoreisi.com

In Line | Target Price/Base Case: €175.00 Peter Levine Bill McNamara

Company Update 212 497 0833 212 446 5626

peter.levine@evercoreisi.com bill.mcnamara@evercoreisi.com

Earlier today, we held a webinar with FPT Americas’ SAP Practice Lead, which reinforced that customer conversations remain

centered first and foremost around S/4HANA migration, with AI viewed as the next layer of value creation on top of that transition

(as well as another driving force encouraging customers to migrate). While SAP’s Sapphire messaging around the ‘Autonomous

Enterprise’ resonated with customers, the partner noted that most enterprises are still early in their cloud migration and data maturity

journeys. The 2027 ECC support deadline remains a catalyst for driving conversions, though the partner suggested 2030 is likely

a more realistic framework for many enterprises, particularly those with heavier customizations. Customers moving toward public

cloud deployments may still meet the 2027 target, but many remain focused on foundational work around process harmonization,

‘clean core’ modernization, and broader change management. Customers are increasingly using Signavio and LeanIX within

broader RISE initiatives to map business processes ahead of larger S/4 transformation efforts. Importantly, the partner stressed

that customers do not necessarily need to fully complete S/4 migrations before beginning to deploy AI capabilities – a key message

from Sapphire as well.