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The S/4HANA migration license risks.

A forty-four page analyst paper on the conversion window — SAP's highest-leverage commercial moment. The eight conversion-credit traps, the RISE and GROW arithmetic, the indirect-use exposure that compounds during migration, and the eleven negotiation levers.

Research Paper 44 pages Published May 2026 Format: PDF Access: Gated
What You'll Learn

Six learning outcomes for the conversion window.

  1. Why the migration window is SAP's highest-leverage moment. The commercial dynamics of conversion and the audit-frequency data across the engagements we have closed.
  2. The eight conversion-credit traps. How the order-form arithmetic works against the customer, and the specific clauses to negotiate before signature.
  3. RISE with SAP, decoded. The bundled pricing, the subscription mechanics, the hyperscaler optionality, and the lock-in mechanisms most procurement teams miss.
  4. GROW with SAP for mid-market. Where the GROW package supports the business case and where it does not, with the modelling framework to test it.
  5. How indirect access exposure compounds during migration. Why the conversion event amplifies existing indirect-use exposure, and how to defend through the window.
  6. The eleven migration negotiation levers. Commercial, contractual, and architectural instruments that determine whether the conversion is value-accretive or value-destructive.
Table of Contents

Seven chapters. Forty-four pages.

Chapter IThe conversion window: SAP's leverage momentpg. 5
Chapter IIConversion paths: on-prem, RISE, GROW, hyperscalerpg. 12
Chapter IIIThe eight conversion-credit trapspg. 19
Chapter IVIndirect access through the migration windowpg. 26
Chapter VRISE arithmetic: bundle math, exit costspg. 32
Chapter VIThe eleven negotiation leverspg. 38
Chapter VIIA casebook: four conversion-defence matterspg. 41
Who It's For

Four audiences. One conversion reference.

CIOs & Programme Sponsors

Executives sponsoring S/4HANA conversion programmes who need to test the SAP business case against an independent commercial reference.

Procurement Leadership

VPs of procurement and SAP category managers negotiating conversion order forms, RISE bundles, and GROW commercial terms.

In-house Counsel

General counsel reviewing conversion contracts, audit-rights clauses, and the long-term licensing structure that emerges from the migration.

CFO & Finance

Finance leaders modelling the cumulative cost of conversion against on-premise continuation, with explicit consideration of exit costs.

The RISE proposal looked like a forty per cent reduction over five years. When we modelled exit cost and indirect-use exposure honestly, it was a fifteen per cent increase. We renegotiated.

CFOEuropean Industrial Group · Closed Q3 2025
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