Hosted product being wound down?

German business software maker SAP is winding down a cloud-based ERP product for small to mid-sized businesses, a German magazine reported.

Business weekly Wirtschaftswoche said SAP would stop the development of Business ByDesign, although existing customers will be able to continue to use it.

An SAP spokesman said on Saturday that development capacity for Business ByDesign was being reduced, but that the product was not being shut down.

SAP, one of the world's biggest makers of business management software, originally projected that Business ByDesign - which was launched in 2010 - would reach 10,000 customers and generate US$1 billion (A$1.03 billion) of revenue.