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By 2025, we expect 80% of all new midsize core financial management application projects, and 45% of large and global ones, to be deployed in the public cloud. Inquiries on this market taken by Gartner’s financial applications team slowed somewhat in 2020, but appear to be at a pre-COVID-19 (2019) level.*

According to the Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises – Oracle remains in the Leaders Quadrant with the top ERP solutions of choice for completeness of vision and ability to execute for the fifth consecutive year.

With a strong market presence, Oracle Fusion Cloud and NetSuite continue to seamlessly deploy cloud solutions for lead finance users to help avoid challenges faced with on-premise application. Amongst the new releases, Oracle provides the ability to maintain real-time data for 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.”

“Our world has been radically altered this past year and our customers have successfully pivoted against all challenges to accelerate their finance transformations and modernize their business processes in the cloud.”

– Rondy Ng,  Senior Vice President of Applications Development at Oracle

In this post-pandemic age, limitations of existing tools brought awareness on the fact that businesses may not be as agile as they initially believed. IT leaders are finding success with the cloud to help improve capabilities and build a roadmap of resilience for the future of their organization. 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 Fusion Cloud ERP

Oracle continues its position as a Leader in this Magic Quadrant for the fifth consecutive year with Oracle Fusion Cloud ERP. Oracle Fusion Cloud is a SaaS suite of business financial management applications and platforms for upper midsize, large and global enterprises that are engineered to seamlessly work together to unify data and deliver continuous innovation. This new generation cloud platform embeds services like AI, IoT, and advanced analytics in the fabric of Oracle’s application portfolio.

Strengths*

• Mature enterprise solution/advanced features
• Client satisfaction
• Accounting hub and AI/ML

Cautions*

• Long projects
• Post-go-live complexity
• Professional services implementation skills

Oracle NetSuite

Oracle NetSuite is a Leader in this Magic Quadrant and continues to maintain its position. With its Ability to Execute and Completeness of Vision, NetSuite continues on its impeccably executed roadmap and extensive industry support. Including business services, manufacturing, high tech, retail, wholesale and not-for-profit – NetSuite is applicable to both product and service-centered businesses.

There is a reason more than 36,000+ companies, organizations, and subsidiaries use NetSuite.

Strengths*

• Upper-market features
• Global presence
• Customer acquisition

Cautions*

• ERP suite focus
• Channel conflict
• Cost

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

Outside of the cost savings and tools, cloud ERP software offers significant benefits. With core function areas like financial planning and analysis reporting 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.