Until a few years ago, Cloud Computing and ERP (Enterprise Resource Planning), as a unique concept, weren't viewed as a solution for the business growth. Nowadays, because of tightening budgets, IT managers are looking for more affordable, high powered enterprise systems and ERP software solutions such as the web based ERP applications. In this paper we explained what ERP and Cloud Computing are, based on a set of corporate reports and specialized literature. As a result, the article identifies the advantages and disadvantages of this concept and its influence to the economical business environment.