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Definition: Software as a Service(SaaS)
Software as a service is a type of application service provision that is offered by 3rd party service providers to the customers. In this software delivery model, the software and the data are centrally stored in a central cloud and the end customer or the end user accesses it using a thin client or a web browser, no data is stored in the local machine. This is increasingly becoming a model of software delivery where the risk is assumed by the service provided and the outage or the fix time is significantly reduced.
Some examples of services and software that are provided using this software delivery model are, Office tools, Customer relationship management solutions, Enterprise resource planning systems, accounting, collaboration, data sharing, management information systems etc.
The service providers charge on a subscription basis, for the software’s being used and the license period, and charged a fixed fee on a monthly or an annual basis. This is a signification step from moving towards web 3.0 from web 2.0 framework.