The recent set up presently several corporations have is called On-Premise.
It means that all the SAP servers are set in a physical location inside the organization.
The new setup, the so-called On Cloud, is a virtual environment that does not have a physical location and is hosted by SAP only.
So the corporations that choose Cloud don't have control over their servers. SAP will take care of the maintenance and upgrades from time to time.
An example of a SAP Cloud-based solution is S4 HANA, which is nothing but an R3 or ECC system on a cloud platform.
All functionalities are the same except the database is changed to HANA, which is SAP’s proprietary database.
So changing your solution to the Cloud platform is only change within the technical aspects of the server, not the functional.
Therefore functional consultants can do the same work as they are doing currently.
You can learn SAP FICO or S4HANA Finance course online to upgrade your skills by getting certified in any of the courses.