As we often say, the Cloud is not a one-size-fits-all all proposition and it is not a silver bullet. It is a fundamental shift in how companies purchase software. It carries data security risks. If you need to customize the software to meet unique business requirements, the Cloud may not be ideal for your needs.
On-premise software traditionally consisted of a large up-front investment with a smaller ongoing maintenance obligation. With Cloud software, you are perpetually leasing software with the price increasing on an annual basis. It never goes down, and you can never stop the fee increases. Many Cloud products are not fully baked. Know what you are getting yourself into.