I've spent a lot of the last year helping clients in finance organizations think through how they should adjust after the dramatic upheaval of the pandemic. While initially there was a lot of trepidation about what is next, many teams adjusted their thinking using this point in time as an opportunity to think about the future.

Central to that future is a company's ERP system. Recently, I joined Rondy Ng, senior vice president of applications development at Oracle, and David Linthicum, managing director and chief cloud strategy officer of Deloitte Consulting LLP, on Deloitte's On Cloud podcast to talk about why an increasing number of companies are moving to cloud-based ERP systems-and how the pandemic has accelerated that trend.

In 2020, many businesses suddenly realized the ERP systems that they considered "good enough" simply weren't. They needed systems that went beyond processing transactions and closing the books, ones capable of supporting new business models and operating environments.