SAP SE (NYSE:SAP) shares are trading higher premarket on Tuesday. On Monday, SAP Canada launched SAP Sovereign Cloud capabilities to meet the growing demand for data sovereignty, security, and compliance among Canadian organizations.

This solution ensures businesses can harness the benefits of the cloud while maintaining full control over their data, addressing critical security and regulatory requirements.

Aligned with the Government of Canada’s cloud-smart strategy and strict data sovereignty laws, SAP Sovereign Cloud mitigates risks related to digital sovereignty, residency, and security.

SAP Sovereign Cloud in Canada initially includes SAP S/4HANA Private Cloud Edition, SAP Business Technology Platform (BTP), SAP Analytics Cloud, and Digital Supply Chain solutions like Integrated Business Planning (IBP).

These offerings provide a secure foundation for managing critical business processes while ensuring compliance with Canadian regulations. Additional solutions, including SAP SuccessFactors HCM and SAP Fieldglass, are expected later this year.

“In today’s digital age, the ability to act independently and securely has become imperative as Canadian businesses become more reliant on information technology and deal with significant growing cyber security threats,” SAP president Andy Canham said.

“With SAP Sovereign Cloud capabilities, we are fulfilling organizations’ needs for digital sovereignty, providing in-Canada infrastructure and operations and covering the core sovereign cloud capabilities that our customers need.”

In a separate release, SAP disclosed that it expanded partnership with Ericsson (NASDAQ:ERIC) backed Vonage to deliver AI-driven experiences for enterprises worldwide.

Last month, the company launched SAP Business Data Cloud, which aims to consolidate data from SAP and external sources within organizations.

Investors can gain exposure to the stock via Precidian ETFs Trust SAP SE ADRhedged (BATS:SAPH) and The 2023 ETF Series Trust II GMO International Quality ETF (NYSE:QLTI).

Price Action: SAP shares are down 1.45%, trading at $276.73 per share, at last check Tuesday.

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