Well to start, let’s clarify what Software as a Service (SaaS) is. According to Gartner, it is “software owned, delivered and managed remotely by one or more providers. The provider delivers software based on one set of common code and data definitions that is consumed in a one-to-many model by all contracted customers at any time on a pay-for-use basis or as a subscription based on use metrics.”
That sounds a bit complicated, but in simpler terms, cloud software is offered to customers via the Internet on a pay-as-you-go basis. It’s extremely popular today, with most people using it daily without even realizing it. And this simple model leads to countless benefits for businesses and consumers alike. It’s so beneficial, in fact, that IDC predicts the cloud software market to surpass $112.8 billion by 2019.