This IDC study examines the market for financial applications, which is expected to see solid growth despite industrywide impacts of the COVID-19 crisis. The crisis is expected to accelerate the adoption of cloud financial applications relative to on-premises and private cloud deployments.

"Currently, organizations are shoring up their financial processes and are trying to understand the strategies they need to implement to best position themselves during these unprecedented times. Vendors with cloud-based tools that automate and streamline financial processes are well positioned to grow beyond the pandemic," says Kevin Permenter, research manager, Enterprise Applications at IDC.



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