Vantaggi
The nicest part about working at SAP is that you have flexibility to work anywhere, a lot of people work from their home office so most of our work is done over conference calls, emails and IM. They also offer good benefits (free lunches at major offices, good HR benefits, etc).
Svantaggi
It's hard to get things done at SAP. Dependancies on collaboration can get in the way. I've worked on projects where you need over a dozen different approvals from different parts of the business to approve your project, and when one of the approvers ignores emails and misses meetings then wants to change things to benefit mainly his/her interest it is frustrating because everyone else suffers from the delay. SAP is also very process oriented, even if it doesn't make sense or slows things down, case in point it can takes 2 weeks to open a PO and about 2 months for a vendor to get paid, and most teams calculate their budgets in Excel.