SaaS

SaaS (Software as a Service) represents a software delivery model according to which applications are hosted by a third party and accessed by the users over the internet on a subscription basis. SaaS removes the burden of locally installing and maintaining software by providing businesses with benefits of scalability, out-of-the-box solution, flexible updates and much more. For instance, SaaS applications that run in the cloud include CRM, project management and HRM tools.

Example of SaaS

A recruiting firm has a SaaS subscription that focuses on applicant tracking and management. Instead of buying expensive, on-premises software and hardware, the company accesses the SaaS application through a browser, buying a monthly subscription based on the usage. The platform provides recruiters with a tool to simplify the candidate sourcing, screening, and hiring processes by means of features like resume parsing, automated workflows, and collaborative tools. Through the use of SAAS, the recruiting firm improves efficiency; reduces overhead costs; and, holds its own in a competitive talent market.