Here's Why Cloud Startups Are Not A Threat To Enterprise Software Giants Like Oracle And SAP

With cloud companies and services gaining more popularity, it is only a matter of time before enterprise technology transitions to the cloud as well.

Bill McDermott, co-CEO of enterprise software company SAP, says that he is not concerned with the buzzed-about cloud startups that have emerged in recent years.

"If you looked at our quarterly results, cloud was up 385% year over year, and a lot of those wins were against the 'best of breed' cloud providers," McDermott said. "When you talk to large complex companies they want the cloud, but they want the cloud in the form they are interested in."

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Watch below as McDermott discusses the future of cloud for enterprise with Business Insider editor-in-chief Henry Blodget.