Market research firm Gartner has forecast the trend where organizations are increasingly using cloud solutions for supporting their core financial applications and transactional systems of record. By 2020, around 36 percent of enterprises are likely to sustain over half their transactional systems using the cloud.
According to John Van Decker, Research Vice President at Gartner, “We have found that most clients asking about these financial business application markets are solely interested in the cloud option.”
Gartner says that while the still developing cloud solutions cannot uniformly meet the requirements of all markets, verticals and company sizes, in future over 90 percent of enterprises are likely to use the cloud for half of their enterprise transactions.
Over the next three years, 44.6 percent of smaller organizations along with 37.7 percent of midsize and 40.4 percent of larger organizations plan to migrate to the cloud.