Software-as-a-Service (SaaS)

Search Dictionary

Definition of 'Software-as-a-Service (SaaS)'

Software-as-a-Service (SaaS) is a software distribution model in which software is licensed on a subscription basis and is centrally hosted. This means that the software is hosted on a server owned and maintained by the software provider, and users access the software over the Internet.

SaaS is a popular delivery model for business applications because it offers several advantages over traditional on-premise software. First, SaaS is more cost-effective than on-premise software because the software provider takes care of all the hardware, software, and maintenance costs. Second, SaaS is more scalable than on-premise software because it can be easily provisioned and deprovisioned as needed. Third, SaaS is more secure than on-premise software because the software provider is responsible for security.

There are a number of different SaaS applications available, including customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), and accounting software. SaaS applications are typically used by businesses of all sizes, but they are particularly popular with small and medium-sized businesses (SMBs) because they offer a cost-effective and scalable way to get the business applications they need.

SaaS is a growing market, and it is expected to continue to grow in the coming years. According to a recent study by Gartner, the global SaaS market is expected to grow from $257.9 billion in 2021 to $331.2 billion in 2022.

There are a number of factors driving the growth of the SaaS market. First, the increasing adoption of cloud computing is making SaaS more accessible and affordable for businesses of all sizes. Second, the growing demand for mobile applications is also driving the growth of the SaaS market. Third, the increasing need for security and compliance is also driving the growth of the SaaS market.

SaaS is a disruptive technology that is changing the way businesses acquire and use software. By offering a more cost-effective, scalable, and secure way to get the business applications they need, SaaS is making it easier for businesses to be more productive and competitive.

Here are some of the benefits of using SaaS:

* Cost-effectiveness: SaaS is a more cost-effective way to acquire and use software than traditional on-premise software. This is because the software provider takes care of all the hardware, software, and maintenance costs.
* Scalability: SaaS is a more scalable way to acquire and use software than traditional on-premise software. This is because it can be easily provisioned and deprovisioned as needed.
* Security: SaaS is a more secure way to acquire and use software than traditional on-premise software. This is because the software provider is responsible for security.
* Accessibility: SaaS is more accessible than traditional on-premise software. This is because it can be accessed from anywhere with an internet connection.
* Convenience: SaaS is more convenient than traditional on-premise software. This is because it does not require any hardware or software installation.

SaaS is a growing market, and it is expected to continue to grow in the coming years. If you are considering using SaaS, be sure to do your research and choose a reputable provider.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.