FILE PHOTO: The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski
BERLIN (Reuters) - Christian Klein, CEO of German software group SAP, on Wednesday launched a campaign to encourage customers to move operations to the cloud, a shift that has brought short-term pain to investors but one that he hopes will pay off over time.
Klein, 40, in sole charge at SAP since April, has adopted a subscription-based service model that generates predictable revenue rather than the lumpy up-front cash flows from software licences.
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