When there was the first public preview of the Azure™ Services Platform, we had lots of discussions about the future opportunities that the concept of "cloud computing" will open to every ISV.
One of the concept that I think it will surely "hot" in the near future and that I'm happy to see also on the Microsoft's blog is the concept of Multi-Enterprise Business Applications.
In an era where large enterprises are always more interconnected, having applications that span multiple companies will be always more a must.
Microsoft has shared a first concept of a MEBA application based on the Azure platform:
This is a totally new model of business. If you're interested on this topic, I recommend to check this post absolutely... I think it will be the starting point of new ideas for the future.
A common question we receive always more is: when Microsoft will release a "cloud-based" ERP?
We can't see if this will happen (the ERP is the core of an enterprise business and having a totally cloud-based ERP system is not always the best solution I think), but surely Azure will be the base platform for more and more services that will enhance the possibility of an ERP system (and not only for the ERP side).
Microsoft Dynamics systems will take advantages from the Azure quite soon... stay tuned!