Finance professionals are frustrated by the costs, inefficiency and the overall lack of control they have with legacy on-premise financial systems, scoring them significantly lower than cloud-based enterprise performance management (EPM) services, according to a new report by Radius Global Market Research.

The study, commissioned by cloud-based EPM provider Host Analytics, finds that 20% to 30% of those organizations currently using legacy on-premise systems plan to move to an alternative solution within the next year. About two thirds (65%) plan to make a move at some point. “Based on the research results, it is clear that a large proportion of companies are frustrated by their legacy on premise EPM vendor,” Michael Patterson, senior vice president at Radius, said in a statement.

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