SAP lays out its strategy for growth, with HANA at the forefront

SAP's strategy event for the investment community on Tuesday offered few major surprises to anyone who's been closely monitoring the software vendor lately, but did serve to cement the company's future direction for product development, growth and customer retention. Here's a look at some of the highlights of the event.

Five ways to win: SAP is now centered on five product categories, namely cloud computing, database, mobility, analytics and enterprise applications. Together, they represent a $350 billion market opportunity by 2020, co-CEO Bill McDermott said during the event.

SAP will lead its sales efforts with cloud computing, according to McDermott, who takes over as sole CEO later this year. "We are a formidable company in every capacity but the cloud is where we're taking the company," he said. "It offers instant consumption, instant innovation and it helps companies grow."