software-as-a-service

Vocabulary Word

Definition

'Software-as-a-service' or 'SaaS' is a way of using software. Instead of buying it and keeping on your computer, you use it on the internet and pay a regular fee for it.

Examples in Different Contexts

In the tech industry, 'software as a service' allows for rapid deployment of software. A Tech CEO might comment, 'Our SaaS platform enables users to access the latest features without installing updates.'

Practice Scenarios

Accounting

Scenario:

It's becoming a struggle managing all our financial records manually. There's room for a major modernization of our accounting department.

Response:

A SaaS accounting package could definitely serve as a great step towards modernization.

Tech

Scenario:

Our development team aims to create an online platform that allows users to track, interpret and display data in real time without the need for any intricate installations.

Response:

Then we should definitely consider creating a SaaS product.