Russian billionaire says replacement of SAP software is costly but essential

Russian steel billionaire Alexey Mordashov said that developing a homegrown alternative to the widely-used business software made by Germany’s SAP will require more time and money than anticipated but is a matter of survival.

SAP, which became Europe’s largest company by market capitalization this year, makes software that helps businesses manage functions from marketing and human resources to logistics and procurement.

SAP provided software to Russia’s largest companies, including airline carrier Aeroflot and Russian Railways, but gradually…