More and more companies are turning to cloud-based financial management systems to replace their legacy ERP systems.
With an aim of bringing efficiency and boosting flexibility, a majority of enterprises have moved their applications or infrastructure to the cloud. According to Gartner, by 2018, at least 30 percent of service-centric companies will move the majority of their ERP applications to the cloud. The research firm also says that by the next year, 70 percent of organizations adopting hybrid ERP will fail to improve cost benefit outcomes unless their cloud applications provide differentiating functionality. This is an indication of how more and more companies are turning to cloud-based financial management systems to replace legacy ERP systems says Ajay Kumar, Director Sales Consulting - ERP at Oracle India. “ERP on the cloud helps organizations saving the money on IT maintenance and hardware. Employees can also use their time to work on technology driven innovations.”
Current adoption of ERP solutions are basically of certain modules like HCM, HRMS, procurement solutions, sales and distribution etc. Most of the critical and core functionalities are still on-premise. However as time progresses and as business, internal IT organizations, customers, service providers, vendors mature, we will see increased adoption.
On-premise or cloud-based ERP software?
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