Hi Ponnusamy
Have you done the Schedule Report Settings Under the SBo Mailer settings?
Do you have the SAP Business One Client installed on the server? If so, log in to the server via remote desktop and not xenapp. If you installed the client on the server in the default location then it will probably be C:\Program Files (x86)\SAP\SAP Business One\SAP Business One.exe. It shouldn't matter if it is on a Virtual Server.
Another place to look for possible errors to explain the issue is the Event Viewer in the Control Panel.
Regards
Kennedy