@Aaron_Moreng
I guess the first things to do is make sure your team knows and understands Azure. Look at what you can do with regards to mitigating spiraling subscription costs. There a few tools that will help you there.
The other thing I wanted to comment on was the fact that by the sounds of it the pieces of the puzzle are mostly there you have O365 so you can extend with Azure AD to move off that on-prem server. There are plenty of VM migration tools to Azure available as well as other components of Azure to take into account of some of the additional infrastructure like load balancing and of course backup and failover. Of course all that comes at a cost, hence me going back to my comment about subscription costs. Once you understand that, then I reckon you would be good to go.
Our current environment is a mix of on-prem for our legacy ERP and AD, but we are moving things slowly over. Our Epicor environment is all on VMs in Azure. It works not too bad, but we are still implementing and have not done any fine tuning.
The other thing I am really interested in SQL Azure and Epicor, but as I understand it, it’s not there yet.