SAP is keen to tap the SME sector, as the company's traditional customers - large companies and organisations - make fewer and smaller software purchases.
Osram Light Consulting, a subsidiary of the German lighting company Osram, is the first of several companies testing Business One to license the product.
Localised versions of the software, adapted to conduct business with local currency and business regulations, will be available in a phased rollout worldwide. Austria, Denmark, Finland, the Netherlands, Norway and Switzerland will receive localised versions later this year, with versions for the Americas planned for early next year.
SAP Business One is based on the former TopManage Pro software, which SAP acquired in March from TopManage.
SAP is targeting companies with between five and 150 employees. The product will be priced at around $2,000 (£1,277) per user without a group discount.
Another product offered at larger medium-sized business, mySAP All-in-One, offers additional features. Both products, in turn, offer migration options to the higher-end mySAP.com family of e-business software.
SAP Business One's new channel network will consist of select partners with a regional, national or global presence, as well as companies focusing on specific industry needs.
On Wednesday, SAP announced a far-reaching alliance with Hewlett-Packard, which will deliver SAP Business One software through its distribution channel in more than 30 countries across Europe.