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It is no surprise that almost all large enterprises and SMEs have shifted a part of their operations to the cloud. The cloud market is well on track to reach the expected $495 billion dollar mark by the end of 2022. The transformation the cloud is going to witness in the next decade is beyond what we can all imagine.
Moving to the cloud and, in turn, leveraging different cloud configurations to run operations is a sound strategy for success. Hybrid cloud solutions, in particular, are experiencing a global surge in adoption. Hybrid clouds also can help a business expand into different areas or explore alternate business models.
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Resistance to change is common, and business technology leaders are not immune. Additionally, many decision-makers perceive cloud solutions as more expensive. Most companies say that the added costs of the cloud are offset by other savings, such as eliminating hardware and data center expenses.
As the need for greater interactivity and data access increases, more companies are adopting cloudcomputing. Cloud-based EPM solutions reduce operating costs, but migration can be a time-consuming and complicated process, often resulting in productivity losses. Cloud by the Numbers.
If the operating theme for finance teams in 2024 was “automate workflows and optimize costs to drive value,” then the operating theme for 2025 is shaping up to be, “stay the course.” The enhancements will come with a price increase, but the added cost will be worth it. However, the move to cloud is far from complete.
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