(NECN) - Bill McDermott, co-CEO of SAP, addressed the Chief Executives' Club of Boston at Boston College.

He explains how the major business software company changed its business model for the millennial generation.

"We kind of had to rethink everything, cause we were all about sea-level relationships, making it up to the top floor in the corner office, but the world had changed with the consumerization of IT, the ubiquity of mobile devices," "If they didn't get beautiful technology that was easy to use, they simply went to one of our competitors."

McDermott discusses the implications of technology on his business as well as other industries in an always-changing world.

"This is an unbelievable time for this next great generation to step up. In SAP, I've told every senior executive who runs a big business, 'you will not make me happy unless you have a 20-something running a huge part of this corporation,'" he said.