All For One Steeb AG (DE:A1OS) is the largest supplier of SAP solutions for the German-speaking mid-market. The generational upgrade of SAP products from R/3 to S/4HANA should provide significant growth opportunities in the short to mid-term, but will require continued investment in staff and R&D to maximise monetisation. Management has recently upgraded guidance, and the shares currently trade at a discount to peers.
Investing in cloud and vertical expertise
All for One Steeb has successfully operated a buy-and-build strategy over the past seven years. The initial focus was building scale and expanding customer footprint to the extent that the company is now the clear leader in the target segment, providing SAP solutions to the mid-market with over 2,000 clients and 1,400 experts. Recent acquisitions have focused on expanding the breadth of solutions to deliver integrated solutions across key industry verticals and supporting on-premise, private, public and hybrid cloud environments. The company’s most recent acquisition, of inside Unternehmensberatung effective 1 April 2017 added specialist HR solutions capability, delivered primarily via a cloud subscription model.
To read the entire report Please click on the pdf File Below: