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By 2024, 70% of all new midsize core financial management application projects, and 35% of large and global ones, will be public cloud implementations. *

According to the Gartner Financial Management Magic Quadrant Analysis, end-user inquiries about cloud solutions is continuing to increase. With the ability to maintain real-time data amongst new releases, cloud solutions provide midsize and large global enterprises to continue to remain agile. In addition to its consumer-like interface, cloud software is equipping users with the tools and training with less dependence on their IT crew.

With the evolution on the COVID-19 pandemic, large organizations utilizing on-premise solutions are quickly searching for a more flexible alternative. While an on-premise to cloud implementation is an extensive undertaking, organizations are realizing it’s more than just an upgrade. It’s a digital transformation and pivot towards financial success.

Read our summary below and check out the full report for more information.

Oracle ERP Cloud

With its ability to adapt to any size organization, Oracle ERP Cloud continues to provide security and compliance in a modern user interface. More CFOs are choosing Oracle ERP Cloud for IT system simplification, and to accelerate the addition of better security and new features.

Strengths*

• Scalability and extensibility
• Mature enterprise solution
• Product capability and vision

Cautions*

• Contract
• Service and support timeliness
• Ease of deployment and maintenance

Oracle NetSuite

There is a reason more than 36,000+ companies, organizations, and subsidiaries in more than 200 countries use NetSuite. Built with broad capabilities, NetSuite has been optimized specifically for unique industries including distribution, manufacturing, professional services, high technology, publishing, retail, non-profits and more. NetSuite continues to lead with an executed roadmap.

Strengths*

• Scalability and global reach
• Customer satisfaction
• Product capability

Cautions*

• ERP suite focus
• User interface
• IT support

*Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises Report

Outside of the cost savings and tools, cloud ERP software offers significant benefits. With core function areas like Financial reporting and analytics and Subscription billing and revenue recognition, cloud-based software is leading the way with innovation. Learn more about which cloud platform is best for your organization.