Onward Tech partners with SAP, stock surges

Onward Technologies has partnered with SAP SE to sell and support end-to-end ERP implementation focused on SAP S/4HANA providing customers with an accelerated path for digital transformation, informed the company on Monday. Reacting to this development, the stock surged by 3.9 per cent.  

As part of the agreement, Onward Technologies will market, distribute and sub license SAP HANA solution software as a bundled product to their customers with a prime focus on SAP S/4HANA. It will integrate its existing engineering portfolio and value-added services and customise them to cater as per organisation’s specific needs such as business intelligence (BI) and analytics. This will enable enterprises to simplify the increasing complex business processes and upgrade their infrastructure.  

SAP HANA is the advanced in-memory platform on which an ERP suite like SAP S/4HANA is built. It has 9,500 customers, globally. It enables companies of every size to capture critical opportunities in the digital world. It has also helped simplify the IT landscape and in turn digitally transform companies.  

Onward Technologies Limited is a global player in Mechanical Engineering Design Services and IT consulting services. The company offers a range of engineering design services including product design, engineering analysis, engineering documentation and maintenance, and manufacturing solutions for automotive, off highway, aerospace, industrial equipment and consumer goods.  

On Monday, the stock of Onward Technologies opened at Rs 72.25 per share on BSE. It surged by 3.9 per cent to make intraday high of Rs 73.65 in the morning trading session from previous close of Rs 70.85.