Operator
Ladies and gentlemen, thank you for standing by and welcome to Cornerstone OnDemand s Q4 2020 Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your host, VP of Finance and Investor Relations, Jason Gold. Sir, please go ahead.
Jason Gold
Investor Relations
Thank you very much. Good afternoon, everyone, and welcome to Cornerstone s fourth quarter 2020 earnings call. With me today are our Chief Executive Officer, Phil Saunders and our Chief Financial Officer, Chirag Shah. In conjunction with today s call, we published a presentation that s located on the Investor Relations section of our website. Today s press release was also furnished to the SEC in a Form 8-K.
SAP said its fourth quarter will be better than expected as the company aims to shift its customer base to the cloud.
The enterprise software giant said that its fourth quarter cloud revenue will be up 8% under international accounting standards (IFRS), but software license revenue will be down 15%.
SAP will report its full results Jan. 29.
For 2020, SAP said its non-IFRS operating profit will be at the high end of guidance and operating cash flow will be about €7.0 billion.
As for the 2021 outlook, SAP s guidance was muted to reflect efforts to move customers to the cloud. For 2021, SAP said it expects €9.1 billion to 9.5 billion non-IFRS cloud revenue at constant currencies and €23.3 billion to 23.8 billion non-IFRS cloud and software revenue.