Gartner Survey: CFOs Rank Cloud ERPs at Top of List for Information Technology Investment through 2024

Many CFOs credit cloud computing for helping them weather COVD-19 by cutting fixed costs, moving to remote work and adapting to a surge in online demand. Looking ahead, CFOs rank cloud enterprise resource planning (ERP) at the top of the list for information technology investment through 2024, according to a Gartner survey. Worldwide expenditures on public cloud services will balloon to $362.2 billion in 2022 from $257.5 billion last year — a 41% increase, according to estimates by Gartner. Money channeled to the cloud will represent 14.2% of total IT spending by 2024 compared with 9.1% in 2020, Gartner said.

SAP’s Expedited Shift to Cloud will Drive Long-Term, Sustainable Growth – Luka Mucic, Chief Financial Officer SAP

In a uniquely challenging environment, 2020 was a record year for cash flow in every single quarter and the full year. Our better-than-anticipated top line performance combined with our quick response on the cost side drove strong operating profit. SAP’s expedited shift to the cloud will drive long-term, sustainable growth while significantly increasing the resiliency and predictability of our business.

Pandemic Caused Some Companies to Speed Up Moves to Cloud & Upgrades to Internet-based Collaboration Software – Amy Hood, Microsoft CFO

Sales in each of Microsoft’s three divisions exceeded the average estimates of analysts polled by Bloomberg. Corporate versions of Office 365 cloud-based software saw revenue rise 21% in the quarter, the company said. Seats — the number of licensed users — rose 15% at corporations. Subscribers to the consumer version of Microsoft 365, which combines Office and Windows, increased 28% to 47.5 million. We really saw signs of recovery across industries, improvement in small and medium-sized businesses, and we obviously saw consumption that was better than we thought. We saw the improvement across a number of the industries that have been more impacted” in Microsoft’s previous two quarters.

We are well positioned for success as the leading Hybrid Cloud Platform Company – James Kavanaugh, IBM Senior Vice President & Chief Financial Officer

In 2020 we increased investment in our business across R&D and CAPEX, and since October, announced the acquisition of seven companies focused on hybrid cloud and AI. With solid cash generation, steadily expanding gross profit margins, disciplined financial management and ample liquidity, we are well positioned for success as the leading hybrid cloud platform company.