Cloud-based enterprise resource planning pulls midsize companies into the big league by helping them discard their entry-level accounting packages and instead use sophisticated, all-in-one accounting systems.

Of course, they can also have a full-fledged, integrated system connecting crucial business functions such as sales and marketing, purchasing, inventory control and more, with financial systems. Blogger Robert Kugel, who writes for the Big Fat Finance Blog, for example, said in a Ventana Research paper that finance now lives in the cloud.

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