SAP Aims To Boost Prices Citing Inflation Woes

SAP SE (NYSE:SAP) looks to raise its prices due to high inflation, the Handelsblatt reports, citing an internal letter.
SAP will charge up to 3.3% more for maintenance of software installations.
SAP emphasized that it had "largely kept maintenance fees stable" over the past ten years and refrained from increasing them during the corona pandemic.
But now, it saw "higher energy and labor costs, as well as rising expenses for third-party services."
The customer organization DSAG criticized SAP for the move citing the present scenario of the IT market.
Recently, SAP roped in Airbus SE (OTC: EADSY) finance chief and director Dominik Asam as its CFO and director, effective March 7, 2023. Outgoing CFO Luka Mucic will remain a board member until March 31, 2023.
In July, SAP slashed its adjusted profit outlook to €7.6 billion - €7.9 billion, from the previously expected €7.8 billion - €8.25 billion, citing charges related to the war in Ukraine.
Price Action: SAP shares traded higher by 1.56% at $88.43 in the premarket on the last check Monday.