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.