The Brazilian subsidiary of software giant SAP has seen double digit revenue growth in the third quarter driven by a sales increase of cloud products.
According to the company, the top sales performer in Brazil for the period was the SAP HANA Enterprise Cloud suite (HEC), which enables users to transition applications from the on-premise model to the cloud with real-time data processing built in.
Stating that Q3 has been "one of the best quarters in recent years", the company added that the market segments where the Brazilian subsidiary recorded better performance in sales were retail, energy and natural resources and manufacturing, all with growth within and above three digits.
"We are increasingly convinced that the path of digital transformation is definitive and we remain committed to working with our customers in this journey, a perception supported by a sustainable sales pipeline for cloud ERP," SAP Brazil president Cristina Palmaka said in a statement.
According to SAP, the local growth strategy for small and medium enterprises (SMEs) - a segment where local software house Totvs has traditionally been a leader - continues to bear fruit, as the SAP Business One management suite, a product aimed at SMEs, reached double-digit sales growth compared to the same quarter last year.
Third quarter results across Latin America were also positive for the company. Sales of cloud-based products and subscriptions were also the driver behind growth in the region with a triple-digit sales increase recorded for the period, with Brazil and Mexico being the top performers.