During Sapphire, SAP execs took pains to explain they were mostly interested in hybrid SaaS CRM deals - i.e. on-demand customers who would eventually migrate to on-premise or look at on-premise for at least some of their users (e.g. on-demand for a small subsidiary, but on-premise for rest of organization). SAP promises to provide "credits" when customers move to on-premise, but did not provide many details. But I would be willing to bet a subscription price for one user for a month (list of $ 75, much less after I negotiate -) ), they would compete for just about any SaaS deal.
When asked about what on-premise would be offered for Frictionless Commerce functionality, the answer was the acquisition was so new they would have an answer soon. Few details were available for on-demand for the broader ERP suite.
I got the sense the SAP chef will be happy to serve any SaaS a prospect desires - bernaise, barbecue, curry. Not sure it would win too many Michelin stars, though. Still a work recipe in progress.