German software giant, SAP SE (SAP Quick QuoteSAP - Free Report) , recently upgraded two of its offerings to smoothen the digital transformation process of business enterprises. The company unveiled the latest version of its data maintenance software – SAP Master Data Governance – and also revamped its enterprise social collaboration software, SAP Jam Collaboration.

New Functionalities in Products

SAP Master Data Governance: The latest version of the software comes with intuitive analytics and better mobile functionality with SAP Smart Business cockpits. Leveraging on SAP HANA and SAP Fiori apps for master data governance, this technology can create a robust master data foundation platform for customers. This will, in turn, simplify their business and boost efficiency.

Also, the product update will add “master data consolidation” functionality to the “material data” domain that will help in seamless exchange of master data on multiple platforms. These platforms include SAP S/4HANA, Ariba Supplier Information and Performance Management solution and SAP Hybris e-commerce solutions. SAP believes that business enterprises will significantly benefit from improved information governance technology as it is an integral part of enterprise digital transformation.

SAP Jam Collaboration: The revamped version of SAP Jam comes with additional features that will assist business enterprises to create improved customized home pages, administrative area home pages and area delegations. The latest SAP Jam Collaboration is expected to uplift business agility and reduce time of customer query. This will provide employees with easy access to information and also facilitate better sharing of content and information.

In a nutshell, the fresh version of SAP Jam Collaboration can integrate complex traditional processes used in business enterprises into one comprehensive cloud-based, mobile-ready collaboration platform. This, in turn, significantly improves enterprise collaboration technology. The company believes that SAP Jam Collaboration can develop a collaborative work ambience, using lesser manual resources and support, which is a pressing need for businesses.

Product Updates to Broaden Customer Base

SAP constantly upgrades its existing products and launches new ones to gain customers. Some of the recent product upgrades to reinforce the cloud portfolio include introduction of SAP S/4HANA Finance,SAP Cloud Identity Access Governance, SAP HANA smart data integration, SAP HANA smart data quality, SAP Data Services, SAP Exchange Media, SAP HANA Express and SAP Vehicle Insights.

We perceive that the company’s efforts to strengthen its portfolio with product revamps will significantly bolster its top line. These new offerings have been aiding clients to extend functionalities, build new applications and integrate across cloud and on–premise platforms. Growing popularity of SAP HANA Cloud Platform (and its partners) signals bright prospects.

Despite the sturdy cloud business, intensifying competition from technology heavyweights – including Microsoft Corporation (MSFT Quick QuoteMSFT - Free Report) and Amazon.com, Inc. (AMZN Quick QuoteAMZN - Free Report) – and volatile client spending in the technology sector, may pose challenges for the Zacks Rank #3 (Hold) company.

Stocks to Consider

A better-ranked stock in the same space is Adobe Systems Incorporated (ADBE Quick QuoteADBE - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Adobe Systems is a leading player in the computer software space. The company has a striking earnings surprise history over the trailing four quarters, having beaten estimates all through, with an average beat of 5.6%.

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