
In late March, German software giant SAP caught the world’s attention when it overtook Novo Nordisk and LVMH as the most valuable company in Europe. Ask SAP’s CFO about this novel numerical feat, though, and you’re unlikely to be greeted with much fanfare.
“We might be big in European terms, but frankly, against our most prominent competitors, it’s not the case,” Dominik Asam, CFO of SAP, told Fortune.