SAP recently had their worst day in more than a decade, with a market cap drop of almost $40 billion dollar, after reporting a significant miss on their Q3 earnings. While they pointed to the COVID-19 pandemic, many technology companies saw significant growth during this time as clients looked to expedite digital transformation to keep up with the new normal.
The larger issue for SAP and other monolithic commerce incumbents has been a lack of product innovation as the technologies around them progressed. While it's not uncommon for a company to experience uncertainty and changes in direction after the departure of senior executives, the focus on growth via acquisition over the last decade has led to disparate products loosely tied together by marketing instead of well integrated modern solutions.
"SAP implementation tends to take at least twice as long as they originally tell you and cost a lot more. And so, I'll just leave it at that. I also used to, you know, if I heard a company was implementing SAP, I would generally throw them out of my research queue..." - Motley Fool analyst Jim Gillies.
As the pandemic continues to affect the economy well into 2021, businesses want to accelerate their transition to the cloud and focus on digital transformation now more than ever. viax had this insight and it’s why we built our cloud. Decades spent implementing outdated software gave us first hand experience with the frustration and issues. This enabled us to build a solution that not just addresses, but mitigates these costly burdens. By making migrations simple with our modular architecture and simplified integration approaches, businesses can migrate or adopt functionality on their timeline, based on their needs.
viax will help you navigate smoothly the ever-changing demands of modern enterprise commerce. It’s time to innovate for the best interest of your business, and viax is here to help with:
viax is the perfect drop-in replacement for you homegrown commerce capabilities, or your outdated 3rd party commerce tools.