<p>Software manufacturers are propagating cloud computing for enterprise systems; in the long term, it can be assumed that all components of enterprise systems will only be provided as software as a&#xa0;service. Due to the dependence of many application companies on the few oligopolists (Microsoft, SAP, Oracle, Infor, Sage, Salesforce, etc.), the question arises as to how application architectures and IT processes will develop accordingly. Starting with an explanation of what is meant by enterprise systems and which presuppositions underlie the following sections, the state of the art of today’s enterprise systems is briefly outlined. A&#xa0;reference architecture for cloud computing is outlined, in which the different services of the three major hyperscalers are situated. Building on this, the strategic, process-related, application-related and system-related implications of cloud computing for domain companies are highlighted. The article makes it clear that the technological paradigms and systems engineering approaches in cloud computing will permanently change the future implementation of enterprise systems and their operation. The article concludes with an outlook on future challenges for research and operational practice.</p>