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Smaller organisations outpacing larger counterparts in moving finance to the cloud: Survey

Smaller organisations have got the jump on their larger counterparts when it comes to adopting cloud-based financial management applications, according to a recent Gartner survey of global senior financial executives. The survey of 439 executives showed cloud computing take-up is occurring at a faster pace among smaller organisations; 44.6% of smaller organisations plan to move […]
Martin Kovacs
Martin Kovacs
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Smaller organisations have got the jump on their larger counterparts when it comes to adopting cloud-based financial management applications, according to a recent Gartner survey of global senior financial executives.

The survey of 439 executives showed cloud computing take-up is occurring at a faster pace among smaller organisations; 44.6% of smaller organisations plan to move to the cloud for their financial management processes over the next three years.

In the same timeframe, 37.7% of midsize organisations and 40.4% of large organisations are planning to make the move to the cloud.

Gartner found โ€œa major shift is taking place in how enterprises select their financial management applicationsโ€, with 36% of enterprises surveyed planning to use the cloud to support more than half of their transactional systems of record by 2020.

While the human capital management and procure-to-pay markets are ahead of finance in migrating business applications to the cloud, Gartner notes that this is now changing. There is expected to be a steady migration over the next five-to-10 years given the current change in the market.

โ€œThe Gartner survey showed that ninety-three percent of enterprises see the cloud being utilised for half of enterprise transactions in the future,โ€ Gartner research vice president John Van Decker commented.

โ€œThe cloud has definitely changed the game for financial management business applications.

โ€œVendors have responded with new and re-architected platforms in the cloud, and most have de-emphasised their on-premises solutions, in favour of cloud implementations, which are more profitable for the vendors, while reducing the effort of local IT support.โ€

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