Pros
SAP is a very people-centric organization. Everybody at all levels of the organization treat one another with respect. SAP also encourages management to reward their people, and encourages peers to recognize each other. SAP has a good name, too, and so clients treat us with respect. Also, I think it is very cool that we have co-CEOs. It is a big job, and I am glad we have a team at the top.
Cons
As a consultant, most of my interaction with SAP is remotely. Even after 5 years working at SAP, I still have trouble finding information when I need it. SAP tries very hard to communicate policies and provide good training, but it is hard to keep up with everything that is offered. Another downside of working for SAP is that our hourly rates are higher than other consultants, which causes certain things to happen: sometimes the client will be inclined to bring you on as the only SAP employee on a project, and bring all other consultants from a partner or independent. The client does this so that SAP will have "skin in the game..." but still pay low rates for the majority of the team. Sometimes you discover that the other consultants have no real implementation experience, which can put you in a difficult political situation. Also, you are required to solve all of the toughest problems because you are considered to be the expert (a living-and-breathing-SAP-help-file). Your higher rate also means that the client will wait as long as possible before bringing you on and can be very picky about how many hours you work.